Sygnity

RECONCILIATION OF NOSTRO ACCOUNTS AND SUSPENSE ACCOUNTS POSITION

Modern system supporting reconciliation of positions on Nostro and suspense accounts, their monitoring and reporting.

Correspondence of records in Nostro accounts in own books with records kept by correspondent banks is one of the basic requirements of a bank that comes from the Banking Law and the Currency Law.

Ensuring reconciliation of suspense accounts used for keeping records of economic events of different types is an important task of bank organisational units that are responsible for monitoring the state of suspense accounts.

A possibility to automatically reconcile positions and support analysis of unreconciled positions has a key significance in the process of current monitoring of operations registered in Nostro accounts and suspense accounts.

BUSINESS BENEFITS

Assuring correspondence of records on Nostro account

in your own books with records kept by correspondent banks

Shortening time of reconciliation processing

due to reconciliation process automation

Current monitoring

of reconciled and unreconciled transactions

Current reporting of reconciliation state

A possibility to flexible define the rules

for automatic and half-automatic position reconciliation

Reconciliation system allows to define rules for automatic and half-automatic reconciliations while using full compatibility of dates of currency, references and sums, together with a possibility to use tolerance and additional references created based on chosen features of a transaction.

SYSTEM CHARACTERISTICS

Reconciliation rules that are parameterized in system make it possible to achieve a high rate of automatic reconciliation. A considerable advantage of a system is a flexibility of parameterization and a short period needed for preparing the product launch.

Reconciling in a multi-bank mode

Automatic reading of data for reconciliation by using MT940/MT950 formats and a canonical model of extractions

Automatic reconciliation of Nostro accounts and suspense accounts position

Approving reconciliation suggested in half-automation reconciliation services

A possibility to reconcile manually

Generating reports of different positions by using defined criteria

Obligatory Reporting and Business Support

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Sygnity S.A.

Royal Wilanów Business Centre

Franciszka Klimczaka 1
02-797 Warszawa
NIP: 586 000 52 93

phone (+48 22) 290 88 00
fax (+48 22) 290 88 01
e-mail: biuro@sygnity.pl

CONTACT

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