RECON

Reconciliation Simplified

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NOTIVA Recon

This is our full-fledged plug & play Nostro Reconciliation System software product designed for Banks to automatically reconcile Incoming Nostro Statements against entries in the Bank’s General Ledger entries, and thereby minimizing the manual effort required to keep accounts reconciled. Our solution uses a multi-level matching engine that automates the processing of transactions and enhances match rates. It provides comprehensive exception management which helps in identifying unmatched entries across multiple BIC’s and provides mechanisms to match entries using the manual match process.

The Salient Features of NOTIVA Recon

Unlimited Account and Transaction Management

  • Supports unlimited Nostro and Recon account creation
  • Supports unlimited transactions and currencies creation and management

Dashboard for Quick Overview

  • The system has a dashboard that provides a quick summary and important information at a glance

Multiple Data Channels

  • Supports multiple channels to process Back-Office data for internal accounts

ISO 20022 Support

  • Supports ISO 20022 CBPR+ messaging standards

Auto Upload of Statements

  • Auto upload of Mirror entries and Swift Nostro statements
  • Supports single or batch processing of Nostro Statements

Data Enrichment for Nostro Entries

  • Supports enrichment of Nostro account data using transaction details

Flexible Matching Options

  • Supports one-to-one and one-to-many matching for transactions
  • Auto-matching based on rules, or suggested matching by the system

Customizable Matching Rules

  • Supports creation of custom matching rules at either the account or transaction level

Balance Control Checks

  • Includes control checks to ensure balances match

Auto and Manual Matching

  • Allows both auto-match and manual match options for transaction reconciliation

Department Tagging

  • Facilitates department tagging

Split/Merge Entries

  • Handles splitting or merging of transactions as needed

International Branch Reconciliation

  • Manage reconciliation for separate entities like international branches

Custom Reports & MIS

  • Allows custom reports creation and Management Information System (MIS) reports

Optimized EOD Process

  • The system is optimized to automatically handle the End-of-Day (EOD) process
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