Product
Exception management software: reconciliation exception management for bank operations
Matching is table stakes. What decides whether a reconciliation is under control is what happens to the items that did not match: how they are classified, who owns them, how old they are and whether the resolution can be proved a year later.
Sources
Bank formats are inputs, not an integration project
| Format | What it is | Used for |
|---|---|---|
| camt.053 | ISO 20022 end of day statement | Statement side of cash and nostro reconciliation |
| camt.052 / camt.054 | Intraday report and notification | Intraday matching against pending items |
| MT940 / MT950 | SWIFT end of day statement | Correspondents and schemes still sending MT |
| MT942 | SWIFT intraday report | Intraday position and early break detection |
| pain.001 / pacs.008 | Instruction and interbank transfer | The instructed leg of payment reconciliation |
| pacs.002 / pacs.004 | Status report and return | Tying returns and rejects to the original |
| Settlement files | Card scheme and ATM network | Settlement against core postings, fees modelled |
| Core exports and CSV | Whatever your core produces | The internal side, with a versioned field mapping |
Matching
Two passes, and every match records the rule that made it
Pass one: the exact key
Normalized reference, amount to the cent and value date. No judgement, no tolerance, no ambiguity. On a healthy account this clears the overwhelming majority of the day and should be the number you watch.
Pass two: approved tolerances
A value date window, an amount tolerance in cents or percent, and reference normalization rules. Each is versioned, approved and recorded on the match it produced, so a widened tolerance is never invisible.
Grouped and split matches
Many to one for batched postings and one to many for split settlements, with every leg consumed by the match recorded against it.
Duplicate detection
At file level, so a statement is never ingested twice, and at item level, so a re-presented instruction does not consume the wrong line.
Exceptions
Six classifications, because a long taxonomy is used inconsistently
Same reference and value date, amounts a fraction of a percent apart because two rate sources were used.
Re-price the ledger leg on the correspondent source and post the variance.
Same amount, different date, because cut-offs and time zones do not agree.
Accept as timing or widen the window for that account, with the change approved.
A second entry against a reference that already cleared.
Confirm the original, reverse under maker-checker with a reason code.
An item on one side with nothing to tie it to.
Investigate with the correspondent or repair and re-present the instruction.
A charge deducted at source that no accrual expected.
Post the charge and fix the accrual so it stops recurring daily.
One side settled short of the instructed amount.
Split the posting, match the settled leg, leave the residual open.
Every break also carries an age from the value date, an owning queue, an assignee, the attachments gathered while it was worked and the audit note. The resolver demo shows the same worklist on sample data.
Control
The parts that make an auditor comfortable
Maker-checker
Write-offs, reversals, tolerance changes and routing changes are proposed by one role and approved by another. The system refuses to let one person do both.
Versioned rules
Every rule has a version, an author, an approver and an effective date, and the version that applied travels with each item it touched.
Append only audit log
Actions are never edited or deleted. A correction is a new action with its own actor, timestamp and reason.
Roles and segregation
Preparer, reviewer, approver and read only, scoped by account and entity, with SSO from the Platform plan up.
Evidence export
Scope, period, items, actions, approvals, attachments and rule versions, in one action rather than four days of assembly.
Aging and escalation
Thresholds per item type, escalation as a state change rather than an email, and the oldest break visible on the first screen.
The control detail, including SSO, residency and retention, is on security and compliance. The workflow mechanics applied to compliance queues are on compliance workflow automation, and the process by process view of where teams point the engine first is automation in banks.
Get started
Put your first reconciliation on rails
Create an account, and we will email you how onboarding works and what a first source connection looks like. The Reconciliation Break Resolver is open to try right now, on sample data, without an account.