Reconwizz is an automated reconciliation system designed for banks, microfinance institutions, credit unions, and payment service providers. It streamlines financial reconciliation processes, reducing manual effort and improving accuracy. Key features include automated matching of transactions, exception handling with intuitive workflows, flexible data integration with existing core banking and accounting systems, compliance reporting for internal and external audits, high scalability to handle varying transaction volumes, a secure environment with robust data protection, customizable dashboards for real-time analytics, and an audit trail for compliance.
Reconwizz automates the comparison and matching of financial transactions from multiple data sources, such as general ledgers and bank statements. This automation reduces the time and resources spent on manual reconciliation, minimizing errors and ensuring compliance with financial regulations. The system's intelligent algorithms automatically match transactions with high accuracy, significantly reducing manual effort. Its exception handling capabilities allow users to easily manage and resolve discrepancies through an intuitive workflow and rule-based system.
The platform seamlessly integrates with existing core banking and accounting systems, ensuring a smooth transition and minimal disruption to current operations. Reconwizz generates comprehensive reports for internal and external audits, simplifying compliance efforts. It is designed to scale with the needs of the institution, whether processing thousands or millions of transactions. Security is a top priority, with bank-grade security measures, including end-to-end data encryption and secure access controls, ensuring the protection of sensitive financial data.
Reconwizz offers customizable dashboards that provide valuable insights and real-time analytics, enabling better decision-making. The system maintains a complete and unalterable record of all reconciliation activities, ensuring compliance and audit readiness. Use cases include GL account reconciliation, bank reconciliation, mobile money reconciliation, and card & ATM reconciliation. Reconwizz serves various industries, including banks, microfinance institutions, credit unions, and payment providers, offering tailored solutions to meet their specific reconciliation needs.
