Against a backdrop of economic uncertainty, financial institutions are reliant on their accounting department to complete the entire account reconciliation lifecycle, while trying to keep costs to a minimum and meet both organizational and regulatory requirements.
ReconArt™ harbors the best proven methodology to address cash, settlement, portfolio and derivatives reconciliation through a completely integrated and enterprise scalable solution. Many financial institutions have implemented ReconArt™ to streamline their reconciliation activities – from underlying transactions to report, while improving process transparency and delivering a clear ROI.
ReconArt™ is a completely integrated and web-based reconciliation solution for the finance
Head of Finance & Reporting
TCorp, New South Wales Treasury Corp.
The system’s high-end matching algorithm allows for extremely fast and scalable transaction processing across the entire business.
For example, adding new accounts and types of reconciliations is carried out by business users in the organization without the need for any IT and specialty resources. Smart segregation of duties in ready-to-use workflows and interfaces allow users in different areas to concentrate on specific tasks – e.g. exception identification, investigation, resolution, reporting and analytics.
From a compliance stand-point, ReconArt™ is designed to adhere to a broad number of internal policies as well as commonly known industry standards Sarbanes-Oxley (SOX), Dodd Frank and EMIR.
Here is a sampling of account reconciliation types that are supported out-of-the-box in our consolidated web-based application.
- ATM and Teller Cash Reconciliation
- Due From and Due To Reconciliations
- Central Bank
- Nostro Reconciliations
- Confirmation Matching
- Federal Reserve Reconciliation (Fed Rec)
- Credit Cards
- Mortgage Loans and Fees Reconciliation
- Positions, Trades and Cash Reconciliations
- Stock and Bonds Positions
- Trade Reconciliations
- Mark-to-Market and treasury tools
- Merchant Accounts
- Gateway activities
Implementing ReconArt is fast and risk free. The solution is designed for rapid implementation, deployment, and user acceptance with minimal set-up and end user training required for what is an enterprise-class solution. Both cloud-hosted and in-house options are 100% web developed and deployed across every function, both administrative and end user, thereby eliminating the need for multiple technologies to support a distributed solution.
Our global client footprint is constantly expanding and includes leading asset management and investment solution providers, personal finance management organizations, energy trading companies, not-for-profit micro financiers, insurance providers and more.
Every individual client brings a unique set of requirements and challenges during the implementation stages making ReconArt an ever-evolving and cutting edge solution.
We hope you will take the time to find out how you can use ReconArt reconciliation solutions for the finance industry to overcome the challenges in your reconciliation environment. Don’t hesitate to contact us today to learn more.