VisionRisk: Account Reconcilement

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Real-time access to all payment account activity
VisionRisk: Account Reconciliation allows your institution's corporate customers to track the status of their account standing, monitor for fraudulent activity, and make on-line decisions regarding exception items. VisionRisk: Account Reconciliation monitors all of the account activity, including paper, ACH, wire transfers, Internet, and electronic transactions.

A Metavante Image Solutions Automated Account Reconciliation Product
In today's competitive marketplace, financial institutions realize they must provide commercial customers with the most complete, convenient, and cost effective options for handling reconciliation and cash management services. Corporate customers are seeking new image-based services that allow easier account reconciliation, and more convenient and efficient record-keeping at all levels.

VisionRisk: Account Reconciliation provides automatic and electronic reconciliation and balancing that results in reduced costs, enhanced cash flow, and increased staff efficiency.

Providing customer customizable features
Account Reconciliation is customizable for each corporate customer's unique and specific requirements. Corporate customers can:

  • Transmit issue files, or individual items
  • Create additional users with assigned privileges to specified accounts
  • View an "activity log" record of every account transaction
  • View images of checks and deposit slips
  • Create reports of paid items, outstanding items, exceptions, and decisioned items
  • Have a "default" decision made for exceptions which are not decisioned

Supports all the popular industry standard file formats
Account Reconciliation supports multiple issue file formats from your corporate customers, including the industry-popular "comma delimited" file format. Account Reconciliation is consistent with the industry standard BAI Version 2 file format. The Account Reconciliation product receives an issue file from the corporate customer on a schedule of the customer's choosing. The financial institution receives a BAI file from the host each processing day, which is reconciled against the stored issue file. On a schedule appropriate for the customer, exceptions are quickly handled and reports are created that are made available to the customer via web access or file transfer.

Powerful integration with VisionRisk: Fraud Detection - Positive Pay for a competitive advantage
When used simultaneously, Account Reconciliation and VisionRisk: Fraud Detection - Positive Pay are tightly coupled because they are built on the same underlying platform. This means that any action taken on an account or item by a user of one product is immediately seen by the user of the other product. This significantly simplifies coordination of operations personnel supporting the two products on the same account to dramatically decrease susceptibility to check fraud and provide a powerful competitive advantage.

Compliance
Account Reconciliation's advanced features enable confidence in compliance with audit, accountability, and reporting requirements.

Comprehensive reports module
Account Reconciliation offers a comprehensive Reports Module, through Crystal Reports 9, that provides individual reconciliation data reports that are relevant to your corporate customer's needs - on a daily, weekly, or monthly basis. Reports can be viewed, printed, or exported.

Benefits for your corporate customers:

  • Resolves missing deposits, late deposits, mis-posted items and over/shorts as quickly as possible
  • Improves loss prevention by reducing your corporate customers exposure not only to honest errors, but also to larceny and fraud
  • Automates and streamlines time consuming tasks, such as deposit verification and exception resolution, reducing administrative time and processing costs

VisionRisk: Account Reconciliation provides the timely data your corporate customers demand to simplify payments settlement.