■ enReconcile for Banking and Finance

Automate and solve all of your
complex reconciliation challenges
from a single platform

enReconcile's automated reconciliation platform helps Banking and Financial services companies improve back office efficiency by 2x to 3X

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Banks and financial services companies generate and manage sea of data every single day and every piece of the data need to be reconciled to ensure data integrity and accuracy across a multitude of data sets.

enReconcile for BFSI offers highest level of security and privacy for all of your reconciliation use cases from a single platform. From transactional and balance reconciliations to financial close and statutory reporting, our advanced reconciliation engine offers the most seamless and efficient reconciliation in the market.

Common use cases of data reconciliation in banking and finance

Reconciling bank
accounts

This involves comparing the transactions recorded in a bank's internal records with those recorded in the bank's external records, such as those held by a clearing house or correspondent bank. This helps to ensure that the bank's records are accurate and complete.

Reconciling investment
portfolios

Investment managers use data reconciliation to ensure that the positions and values of investments in a portfolio are accurately reflected in the portfolio's records. This helps to ensure that the portfolio is properly valued and that any gains or losses are accurately recorded.

Reconciling trade
settlements

When securities are bought or sold, data reconciliation is used to ensure that the trade is properly settled and that the correct amount of money and securities are exchanged between the parties.

Reconciling customer
accounts

Banks and other financial institutions use data reconciliation to ensure that the balances and transactions in their customers' accounts are accurate and complete. This helps to prevent errors and fraud and to ensure that customers are properly credited or debited for their transactions.

Reconciling regulatory
reports

Financial institutions are required to report certain data to regulatory authorities, such as the Securities and Exchange Commission (SEC) in the United States. Data reconciliation is used to ensure that the data reported to regulators is accurate and complete

Our Key Clients

Challenges that may arise during data reconciliation

Data reconciliation in the banking and finance industry can be a complex and time-consuming process due to the large amounts of data that need to be processed and the many different systems and sources that the data comes from.

Inaccurate or incomplete data

Data errors or inconsistencies can occur for a variety of reasons, such as human error, system errors, or outdated or incorrect data sources. These errors can make it difficult to accurately reconcile data and can lead to incorrect or incomplete results

Lack of standardization

Different systems and sources may use different data formats, structures, and definitions, which can make it difficult to combine and compare data from different sources.

Data security and privacy concerns

Data reconciliation often involves the sharing and processing of sensitive financial data, which can raise concerns about data security and privacy. It is important to have robust security measures in place to protect this data and ensure that it is not compromised.

Complexity of financial transactions

The financial industry involves many complex transactions, such as derivatives, swaps, and other financial instruments, which can make data reconciliation more challenging.

Limited resources

Data reconciliation can be a resource-intensive process, especially for large financial institutions with large amounts of data to reconcile. It may be necessary to invest in additional resources, such as software or personnel, to ensure that the data reconciliation process is efficient and effective

enReconcile for BFSI

happycustomer

The data management and reconciliation needs for BFSI are unique, diverse and complex. enReconcile for BFSI offers a robust and flexible E2E platform from data ingestion, transformation, reconciliation to reporting. Each use case for BFSI can be modeled and orchestrated as a separate process with role based access, audit trail and maker checker functionality.

pointData masking

pointAny to any transformations

pointCollaboration and workflow

pointAudit trail and maker checker functionality

pointN-way reconciliation with fuzzy logic

pointDispute management

point Reporting, dashboards and alerts

Our users include

Ellipse-1

1 among the global Big-4 Consulting firms

global-top

2 among the globally top-5 tlogistic firms

global-large

A Globally Large Bank

enterprises

100s of Enterprises


Delight your customers and partners

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Enhanced customer experience and satisfaction

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engagement

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Better KPIs with across the board

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