Reconciliation& Settlement

ReconSS by

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INTRODUCTION

Ejada Systems Ltd.

Ejada ReconSS is a properly-designed and proven solution that simplifies the reconciliation and settlement process need for the banks. It is an end-to-end solution that loads various source files, matches transactions from multiple sources, manages disputes, resolves conflicts, generates reports and Integrate with host system.

Real Time Transactions Processing

User defined rules for reconciliation and conflicts

Offers Two and Three way reconciliation

ATMs & BNA Cash Reconciliation

Automatic Scheduling of Reconciliation Jobs

Instant Merchant Settlement for the Acquirer

POS/eCommerce Transaction

Flexible integration supports (TCP/IP, Web Services,

MQ,)

Auto Claims Processing based on configurable

business rules

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KEY FEATURES

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TYPICAL CHALLENGES

Ejada Systems Ltd.

Manual processes are not well-equipped to handle large scale reconciliation within bank.

There is a challenge of “ability to scale” with increasing transaction volumes.

With introduction of new payment channels (Apple Pay, STCPay) new data sources requires extensive development.

Application of mandates from monitoring authorities requires quick and impeccable changes in system.

With multiple channels (MADA, VISA, MC) involvement, different and complex matching logics are difficult to define, manage and execute.

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TIME & COST

Banks manually managing the reconciliation and settlement of transactions over multiple networks face a multitude of challenges; the need for excessive resources, slower response times to customers, and potentially compliance issues with the central Bank.

VOLUMES OF TRANSACTIONS

As Banks strive to increase their reach and volumes of transactions offered via POS and ATM channels, it is neces-sary that a solution that is scalable to the point of process-ing millions of transactions per day while automating supporting operations wherever possible is implemented. The lack of automation for heavy volumes of transactions will pose a risk of compromising the Bank’s credibility.

INVESTIGATION OF DISPUTES

By offering multiple customer-facing touchpoints, Banks are occasionally faced with disputes that require swift action. Without a solution designed to equip Bank staff with the necessary tools for investigation and dispute resolution, customer satisfaction rates will surely drop.

Ejada Systems Ltd.

1. RECONCILIATION

A high performance and comprehensive Transactions Reconciliation Engine that caters to the requirements of MADA, GCC and Card Scheme.

It performs multiple legs of matching transactions in the ATM Switch with other channels (MADA, GCC and the Core Banking System).

It utilizes the configured business rules in performing the transactions matching.

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Ejada ReconSSModules

ReconSSEjada Systems Ltd.

ATM SwitchData

Core BankingData

SAMAData

GCCData

EJData

The ATM Cash Reconciliation Engine

Retrieves the replenishment information from EJ file. In case the replenishment information is not available in the EJ file, the same is retrieved from the ATM Switch

Computes the Dispensed Amount by summing all the financial transactions in the EJ file from the previous to the current replenishment date & time

Retrieves the Opening and Closing Balance from the Core Banking/GL File

Generates Accounting Entries in the case of an ATM being on Shortage or Overage

Produces one of the three results:

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2. CASH RECONCILIATION

An efficient ATM Cash Reconciliation Engine that process transactions from the ATM Switch, ATM Electronic Journal (EJ) and Core Banking-Cash GL to determine the Overage or Shortage of an ATM.

ATMElectronics

Journal

COREBanking/CASH-GL

ATMSwitch

Results:

ReconciledOverageShortage

3. DISPUTE MANAGEMENT

Dispute Rules

Bank Cardholder on Bank ATM Machine

Transaction Present In

Switch Core Banking ATM Journal Generate Claim Shortage Overage

Result of Matching

A user friendly and powerful Claims and Dispute Management Module that manages the processing of claims and exception cases that result from transaction exceptions and disputed transactions.

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Transaction exceptions and disputed transactions are initiated automatically by the system based on the configured rules for claims and can be initiated manually by the Users.

Supports Issuer, Acquirer and Merchant claims.

Offers a ready to use interface with the MADA CPS system.

Business rules-based claims initiation and automatic customer.

Accounts posting.

An example:

The Module will identify the transaction as an exception and post a reversal entry to cardholder account automatically. If the auto posting is enabled.

Bank Cardholder used Bank ATM for cash withdrawal.

No cash was dispensed.

Cardholder’s account was debited.

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4. CLEARING AND CHARGEBACK

A well-designed clearing and chargeback module which is fully compliant with Visa, MasterCard and American Express standards.

Capable of handling Acquiring and Issuing business models.

Chargeback module manages credit and debit card disputed transactions.

Proactive identification of transactions which could lead to chargebacks.

Interchange reporting capability.

Chargeback's ageing management and alerting for cases as per card scheme and bank requirements.

RECONSS Clearing-Settlement-Chargeback Module

Visa Basel Master Card IPM Amer Inclear-Outclear

Card holderAccount Posting

MerchantAccount Posting

GL AccountPosting

FEATURES

Merchant on boarding workflow

Link multiple stores/terminals to single merchant profile by defining the hierarchy

Multiple settlement cycles

Settle the Merchant for the acquired transaction

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5. MERCHANT MANAGEMENT & SETTLEMENT

Merchant Management enables acquiring banks to manage the entire gamut of merchant related activities in an integrated way. Acquirers can enroll merchants, query transaction history, manage fees, track terminal inventory and generate settlements.

MerchantOrganization

CityCity

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BENEFITS

Proactive reconciliation processes to reduce customer complaints

Reduced time to resolve financial differences with Banks/MADA

Automatic Identification of transactions that cause the difference (possible claims)

Dual ATM EJ reconciliation (ATM EJ Vs Base24, ATM EJ Vs Core banking)

Interface with host for posting the GL entries

Reconciles all card transactions under a single system

Configured business rules

Interface with external systems via online/batch

Integration with LDAP for User Authentication

Profile based screen accessing controls for system navigation

Proven solution, easy to adapt and customize for MADA member banks

FINANCIAL INSTITUTIONS

Ejada has had the pleasure of designing experiences for esteemed partners in the region’s financial industry.

Is your organizationin need of deeper automation?

We would love to talk to you about taking your first step in this journey of becoming a truly digital organization, and making a positive impact for your customers & employees.

EJADA can help you

- BE DIGITAL - GO DIGITAL

Head Office+966 11 472 2277

Western Province Branch+966 12 665 0441

Eastern Province Branch+966 13 847 4261

Cairo Branch, Egypt+20 2225 94417

Alexandria Branch, Egypt+20 3584 2569

ARE YOUREADY?

www.Ejada.com

Info@Ejada.com