Connect with us

Hi, what are you looking for?

Uncategorized

BoB to have reconciliation system

Bank of Baroda is planning to implement a universal reconciliation management system as it wants to improve reconciliation, which is a key part of the financial streamlining and control functions of a bank. Since manual reconciliation is time-consuming, tedious and error-prone, it is looking for an automated reconciliation solution to provide a cost-effective and efficient means of achieving the reconciliation requirements. It wants the system to have the following functionalities: flexible, universal data loading engine that can support data loading from multiple data sources, data format and standard interface like ISO 8583, ISO20022, ISO15022, SWIFT message, CTS, XML; flexible and visual tool to define business rules: ability to define reconciliation process to streamline reconciliation processing and ensure the 4,6 eyes; flexible data matching engine, data quality check, central integrated exception management and ability to generate reports, transform matched data to specific data type for using with another system.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

PR Newswire

Copyright © Glocal Infomart Pvt Ltd. All rights reserved. Usage of content from website is subject to Terms and Conditions.