Case Study - A major Pacific North-West bank leverages ReconArt for enterprise reconciliation

The client and ReconArt celebrate a decade of fruitful collaboration in full spectrum enterprise reconciliation spanning sweeping automation of period-end GL certification and rolling out of high-volume transaction matching.

Client profile: a prominent bank institution on the West Coast of the USA

The client organization, founded in 1953 in rural Oregon, has grown into a prominent regional bank with over 300 branches across eight Western US states and more than $50 billion in assets. Today it serves approximately 800,000 customers—including consumers, small and middle-market enterprises, nonprofits, and corporate clients—with a full spectrum of services from retail and commercial banking to wealth and institutional services.

Challenges: how to streamline complex reconciliation operations

The bank partnered with ReconArt in 2015 to fully automate its period-end account reconciliation process. With a complex chart of accounts and intricate approval workflows, the bank needed a trusted technology partner to streamline its financial close operations. A profound optimization and automation of this process aimed to:

• Enhance collaboration among teams,
• Provide greater visibility into bottlenecks,
• Accelerate the financial close cycle, and
• Strengthen internal controls.

This strategic move underscored the bank’s commitment to efficiency, transparency, and robust financial management.

Reconciliation software solution and benefits

Balance sheet account reconciliation and certification

ReconArt successfully replaced the bank’s legacy solution, TrinTech AssureNET, with a modern, centralized platform for balance sheet reconciliation and certification. This new system now supports thousands of balance sheet accounts managed by hundreds of users monthly.

The implementation process was highly collaborative, resulting in a seamless transition and the acquisition of enhanced functionality. These advancements provided the team with maximum flexibility to adapt the platform to their unique workflows.

ReconArt offers a robust suite of tools designed to automate time-sensitive processes, such as period-end financial close management. Key benefits introduced to the client include:

• Seamless mapping of the chart of accounts, approval chains, and timetables.
• Automated import of trial balances for improved efficiency.
• Rule-based, multi-step review and approval workflows to streamline account certification processes.
• Unified storage of account balances, supporting documents, and process records, ready for retrieval upon demand.
• Enhanced separation of duties, full auditability, and compliance readiness.

With ReconArt, the Bank has achieved a more efficient, transparent, and scalable solution for enterprise reconciliation and account certification.

Optimizing period-end tasks management with enterprise reconciliation tools

In 2019, following years of a successful partnership, we deepened our collaboration with the client by enhancing our close functionality to include monthly task management for a new user group. This expansion further streamlined the month-end process, improved process control, and reinforced SOX compliance, supporting the management of hundreds of monthly tasks.

ReconArt’s Tasks functionality is specifically designed to address common challenges faced by large financial organizations. These challenges often stem from cross-departmental collaboration, hierarchical complexities, and reliance on shared spreadsheets and extensive email communication to track financial close processes. Key features of the Tasks functionality include:

• Structured period-end task trees and checklists, assigned to designated team members.
• Clear role delineation, ensuring accountability and separation of duties.
• Real-time progress tracking for department supervisors.
• Prompt identification of delays and obstacles, enabling swift resolutions.

This functionality provides organizations with greater efficiency, clarity, and control over their financial close processes.

Transaction matching – closing the circle of enterprise reconciliation solution

In 2024, the bank conducted a comprehensive review of the market for high-volume transaction matching and exception management solutions. Following a thorough evaluation process, the implementation of a robust matching and exception management system began and remains on track for completion in 2025.

A key differentiator of the ReconArt reconciliation platform is its advanced matching functionality, which optimizes daily reconciliations for multiple high-volume, high-risk accounts where speed and accuracy are paramount. The platform’s transaction-level reconciliation capabilities include:

• Rule-driven, AI-enhanced onboarding and comparison of diverse data sets.
• Fully automated data transformation and normalization processes.
• Scheduled operations with centralized dashboards to monitor accounts seamlessly.
• Comprehensive exception management, featuring automated classification, aging tracking, and resolution workflows.

The primary focus is on streamlining processes tied to cardholder activity clearing, checks, cash, loans, and other high-transaction operations, cumulatively managing millions of daily transactions. It also integrates month-end balance sheet workflows wherever applicable.

With this solution, the client gains the full power of an end-to-end reconciliation lifecycle platform. All reconciliation activities are consolidated and automated within a secure, auditable, and integration-ready data hub—delivering unmatched efficiency and precision across the board.