The Challenge

For many organisations, reconciliation can be a complex, tedious, and extremely time-consuming process involving multiple instruments across several business lines. These internal silos are, in turn, compromised by the diverse data sources and formats received from a wide variety of external counterparties, banks, customers, brokers, and suppliers. The potential for human error in this reconciliation process introduces yet further risk to the financial and reputational security of an organisation.

 


Our Solution

Bottomline provides market-leading reconciliation solutions that seamlessly incorporate all data types across the entire enterprise. These proven services deliver real-time reconciliation and exception management for all business lines and market instruments, with comprehensive automatic matching for both internal and external data sources in any format.

Bottomline’s reconciliation solutions work in harmony with your existing systems and processes to deliver measurable efficiency results. They can be deployed as an in-house product application or offered as a hosted service from our global cloud platform. The reconciliation solution provided by Bottomline is a SWIFT Certified Application for Reconciliation and it has already successfully replaced the SWIFT Accord matching service.

 

Benefits

Bottomline's reconciliation solutions provide consolidated visibility across all business areas.

  • Dramatically reduces costs and operational risk and ensures regulatory compliance with automatic reconciliation and straight-through-processing 
  • Provides a comprehensive set of configurable rules for the highest automatic matching rate for both internal and external data sources in any format
  • Can replace the SWIFT Accord service for FX reconciliation
  • Covers compliance requirements such as EMIR with configurable reporting facilities
  • Allows rapid escalation and resolution of discrepancies with extensive exception and investigation queries
  • Provides simple and intuitive business controls with an easy to deploy solution with a web-based user interface
  • Provides a consolidated view of positions on all accounts 
  • Guarantees the optimisation of working capital with sophisticated cash pooling services
  • Works in harmony with your existing systems and processes as a customisable modular solution 
  • Significantly mitigates risk with timely alert and oversight views and a dynamic dashboard reporting service 

 


Benefits
Benefits

Functionality

Seamlessly incorporates all data types across the entire enterprise with:

  • Real-time reconciliation for all business lines and market instruments including cash nostro and giro, general ledger, bank accounts, securities transactions, custodian holdings, funds, treasury, foreign exchange, money markets, precious metals, and custom generic reconciliation.
  • Cross-linked modules to combined discrepancies (e.g. a securities holding discrepancy creates a cash discrepancy; both are linked together) 
  • Multi-level configurable and sophisticated reconciliation rules to provide the highest automated rate of reconciliation 
  • Powerful transformation engine ensures any format interoperability, including SWIFT, XML, Excel, ATM, Card, FIX, SIC, SECOM, SARIE, and proprietary
  • Extensible and business-driven rules allowing fully customisable facilities for exceptions, investigations, escalation, per business line, group, account, currency, etc. 
  • User-defined alarms, pre-formatted claims, queries, and exceptions follow-up
  • Built on the latest open standards, the Bottomline Reconciliation solution can easily be integrated into any environment, including LINUX, with an integrated relational database 
  • The solution has already succesfully replaced the SWIFT Accord reconciliation service for FX