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.
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.
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
Royal Wilanów Business Centre
Franciszka Klimczaka 1
NIP: 586 000 52 93
phone (+48 22) 290 88 00
fax (+48 22) 290 88 01
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