Why TraReconcile?
In the era of Industry 3.0, payment networks have become complex and continue to grow with the ongoing inclusion of new players, new channels, and new standards and protocols. In this environment, mastering financial flows reminds us of the 5V challenge of BIG DATA, namely the Volume, Velocity, Variety, Veracity, and Value of payment transaction data. How can we manage these flows while ensuring product profitability and providing quality customer support?
What is TraReconcile?
TraReconcile was specially designed to help managers address these challenges by assisting them in controlling the integration of financial movements, processing customer claims, and monitoring partner settlements. These processes deployed by TraReconcile are automated from start to finish (WLA – Work Load Automation techniques).
Who is TraReconcile intended for?
TraReconcile meets the reconciliation and settlement needs of any institution dealing with electronic payment transactions, whether it is a:
- Issuer National or regional switch
- Acquirer.
- Payment system
Key features of TraReconcile
Integrating the different flows of transactions and settlements, TraReconcile ensures the following major functions:
Integration control of financial movements
Detection of suspenses, transactions likely to generate a financial loss for the client (upcoming claim) or for the institution (imbalance of product accounts).
Claims management
Processing potential complaints generated for pending issues and those submitted by clients in the best possible time.
Monitoring of partner accounts
Monitoring and justification of the balances of each payment activity.
Reconstruction of settlement balances
Justification of the compensation balance received by breaking it down according to items and sub-items, along with the generation of financial movements to balance the corresponding accounts.