Reconciliation & Settlement System

i-Recon

i-Recon© Enterprise wide Reconciliation & Settlement System

Reconciliation is the backbone of financial accuracy ensuring the money leaving an account matches the transactions recorded. With the growing complexity of digital payment ecosystems and multi-channel financial networks, manual reconciliation is not only tedious but prone to errors.

i-Recon is a robust, AI-powered reconciliation and settlement platform designed to simplify and accelerate daily transaction matching from multiple sources. Supporting a T+1 turnaround time, i-Recon ensures that financial institutions can process high-volume transactions swiftly and accurately, while significantly reducing operational overhead.

i-Recon differenates itself by leveraging AIbased technologies to deliver exceponal reconciliaon accuracy, with intelligent matching capabilies of up to 99.9%. The soluon is PCI S3 certified ensuring compliance with industry security standards.

Some clients are:

UCO Bank
Kerala Bank
Raigad Bank

Frequently Asked Questions (FAQs)

Payment reconciliation is an accounting process that verifies account balances to ensure all sets of records are true, consistent, and up-to-date.

Our Enterprise Wide Reconciliation and Settlement System is PCI S3 Certified.

The use of certified payment applications contributes to reducing the risk of card data theft. PCI S3 supports solution providers in developing new payment applications and helps merchants achieve PCI S3 (Payment Card Industry Software Security Standard Framework) compliance.

  • Developed on the most advanced open-source computing framework
  • Built-in AI/ML components to adapt to changing data formats
  • High availability via multiple framework nodes
  • No database dependency
  • Available in both cloud and on-premise deployment
  • Versatile data adapter for seamless data ingestion
  • Security measures – Secured Protocol, Encryption, Workflow, Audit Trail
  • Certified by PCI- S3
  • Complies with statutory guidelines for real-time reconciliation

i-Recon supports reconciliation and settlement of transactions from NPCI (NFS / RuPay), VISA, MasterCard, CashNet, Amex for ATM & POS, ATM Cash In Accounting (via EJ / CBS / Switch / CBR), IMPS, UPI, BBPS, AePS, wallets, Card to Card, Contactless Cards, Nostro Accounts (Swift), Dividends, etc.

For small datasets, Excel-based macros are used, while for larger datasets, AI and ML technologies are applied for efficient reconciliation.

Some businesses prefer full ownership of the product, while others outsource vendor selection, solution implementation, support, and professional services. Seamless integration and ease of migration are critical factors.

i-Recon is PCI S3 Certified and includes built-in security measures such as secured protocol, encryption, workflow management, and audit trails.

i-Recon: Reconciliation and Settlement System

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