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Even after repeated request to their CBS vendor, the vendor failed to integrate / provide the solution to the Bank. And that made the bank look out for solution in market.
The reconciliation is one of the basic requirements in the CBS, and will be more important facility in future as the digital transactions will increase.
The Bank approached us as they had reviewed our solution in one of our customer banks. Reconciliation is an integrated module in our CBS, knowing this the Bank was excited to understand the working of our ReCon Module. After technical discussions and multiple solution options the Bank decided to implement the ReCon Module.
On implementing the module, our solution reconciled and identified the records of last 5 years. The bank realized the pending amount was almost Rs.xx,xx,xxx. The ultimate step included the customized unique application to identify the bank’s database and map the transaction in the files received from NPCI & Acquirer Banks. This solution has bought the bank’s reconciliation activity on daily basis to be reconciled till last evening.