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Digital transformation for banks is crucial to retain customers and achieve loyalty in a highly competitive market bustling with new players and features. Ideally, this would mean that every single step of the customer journey from opening a bank account to day-to-day operations, ...

What is supplier statement and invoice reconciliation? The process of reconciling a supplier statement and invoice reconciliation in general is quite plain and simple. The Supplier submits a list of transactions and the outstanding balance of unpaid invoices for a given period. ...

Introduction. Digital Transformation in Banking and Financial Data. When it comes to financial data streams, paper as a medium has irreversibly lost the battle with e-formats decades ago. “Digital” does not mean only paperless, but above all being able to structure and analyze ...

“Account reconciliation is the process of comparing two sets of records to ensure their balances are correct at the end of the accounting period”, end of the definition. As clear and simple as it sounds, this definition implies more than meets the eye. Imagine you are a small ...

Government entities such as state treasury institutions, often are among the largest organizations in terms of assets managed and cash turnover. They oversee public funds and are responsible for their gathering, safekeeping, redistribution, and investment. Apart from the sheer magnitude ...