Reconciliation requirements have increased in complexity to the point where existing processes and systems are no longer fit for purpose. Organisations often attempt to mitigate this by adopting manual processes, each relying on a specific set of actions to progress a reconciliation.

Internally developed tools, usually centred on Excel and Access, are deployed to combat this and ensure the reconciliation can be performed. This adds additional steps to the process which are time consuming, high-risk and increase operating costs. These tools are inherently difficult to change and impossible to audit.

Xceptor Reconciliation Hub is an industrial strength solution that delivers an end-to-end reconciliation management process. Adaptable and scalable, Xceptor meets both enterprise-wide and departmental requirements, whilst maintaining flexibility to rapidly undertake ad-hoc requests.

Xceptor services requirements ranging from fund and asset position and transaction matching; cash balance and transaction matching; broker activity matching and fee reconciliation.

Through rule-based configurations, Xceptor places business users in complete control of defining and managing their reconciliation process, without having to rely on IT support. The number, and sequencing, of rules that can be applied to a reconciliation are limitless and users can configure the workflow of each reconciliation and exception path, notifying appropriate resources to enable repair and resolution.

All aspects of the reconciliation process are automated from initial data preparation and reference data look-ups; through reconciliation, exceptions and repair; to final sign-off.

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Benefits of Xceptor Reconciliation Hub

Xceptor’s reconciliation configuration allows organisations to:

  • Capture data in any format, from any channel for the reconciliation
  • Apply rule-driven enrichment steps – consulting internal and external sources of reference data stores and translation tables where required
  • Create limitless rules to determine data workflow and exception paths
  • Provide exception workflow to notify users to apply repair processes
  • Tracks and audits each stage of reconciliation process triggering automated notifications of progress and presenting information through customised reports and real-time dashboards