Banner

Reconciliation services

Transform your reconciliation into a streamlined, largely automated process with Zoreza global. As an expert in banking and capital markets, we have what it takes to customize, integrate and support a vendor reconciliation solution or develop a bespoke one. 

   

Our reconciliation services

circle icon

Advisory

Leverage our expertise to optimize the whole transaction life cycle while de-risking your transformation efforts. We’ll help you establish efficient governance and management, conduct a gap and impact analysis, design a realistic delivery roadmap and draw up cost estimates. 

circle icon

Change and build

Let professionals take care of customizing, integrating and deploying your reconciliation solution while you focus on growing your business. Our wide-ranging expertise and industry-specific accelerators ensure predictable, cost-efficient delivery for both vendor and bespoke reconciliation solutions. 

circle icon

Testing

Rest assured your reconciliation system runs as intended with end-to-end functional and performance testing. We’ll define the testing strategy based on your needs and plan, manage and execute the testing. Our extensive automated testing capabilities ensure the process is streamlined and cost-efficient. 

circle icon

Deployment

Maximize your reconciliation system’s ROI by ensuring a smooth transition to the new platform. We’ll help you make the most out of your new digital solution with employee training, transition support, runbook management and go-live stabilization. 

 

Transform your reconciliation with SmartStream and Zoreza global

    

As a SmartStream global engineering partner since 2020, we leverage the exclusive benefits of our partnership to deliver higher, quicker value for our clients. 

Under our partnership, Zoreza global engineers have access to a dedicated competency development environment. It allows our experts to ace any challenges and ensures we follow the latest best practices in SmartStream customization, integration and deployment. 

Our experience allows us to navigate SmartStream projects of any complexity and de-risk SmartStream customization and/or deployment. 

   

background image

Leave manual, time-consuming reconciliation behind with Zoreza global

 

Why Zoreza global

vector

Deep industry acumen

With 45+ years’ experience in banking and capital markets, we’re well-versed in navigating the most challenging large-scale projects. Our reconciliation experience includes balance sheet substantiation, exchange-traded derivatives, payment investigations, post-trade processing, securities and treasury confirmations. 

vector

Process-specific blueprints

We leveraged our decades-long experience to craft blueprints for specific reconciliation and testing processes. These blueprints speed up our work and ensure we deliver value faster, all without compromising on quality. 

vector

Only bespoke solutions

We deliver one-of-a-kind solutions to one-of-a-kind challenges. While our blueprints speed up our work, we remain laser-focused on pinpointing the right solution based on your unique needs, goals, workflows, infrastructure and challenges. 

vector

Vendor-agnostic approach

Our partnership network includes leaders in financial markets solutions, such as SmartStream, Adenza, Murex and Finastra. While our close collaboration with vendors enables us to streamline implementation, our priority is identifying the right reconciliation system for your needs. 

   

Zoreza global's capabilities in numbers

45+

years of serving the banking industry 

350+

active financial services clients 

7,300

financial services experts on our global team 

70+

countries we deliver solutions for 

17

of the world’s top 20 banks rely on us 

>70%

of our engineers hold advanced degrees 

    

News and insights

The settlement cycle is moving from T+2 to T+1. What impact will it have on the capital market?

Blog

The settlement cycle is moving from T+2 to T+1. What impact will it have on the capital market?

A faster way to optimization

Blog

A faster way to optimization

Liquidity management in banking: Definition, ways to improve, benefits

Blog

Liquidity management in banking: Definition, ways to improve, benefits

 

FAQ

A reconciliation system is a digital solution that automates and facilitates reconciliation between two or three data sources for financial organizations and businesses in general. It typically handles: 

  • Preprocessing data at the loading stage 
  • Tracking cash flow 
  • Capturing revenue 
  • Comparing internal records with external figures 
  • Identifying discrepancies in records 
  • Enforcing financial controls 
  • Generating reports with matched and unmatched transactions 
  • Enabling dual approval where necessary

A reconciliation solution enables businesses to streamline error detection, fraud prevention and regulatory compliance. It can leverage intelligent automation, advanced data analytics (including but not limited to predictive analytics), cloud computing and other cutting-edge technologies to improve efficiency and ensure accuracy. 

Reconciliation solutions can be divided into bespoke systems and off-the-shelf platforms, and can be deployed on-premises or in the cloud. 

Industrywide reconciliation best practices include: 

  • Enabling daily reconciliation that includes outstanding item reviews 
  • Resolving exceptions within a predetermined amount of time in the event of a data break 
  • Minimizing the number of transaction data attributes required to finalize the reconciliation process 
  • Masking and encrypting sensitive data to protect it in case of a security breach and ensure compliance 
  • Ensuring reconciliation is done within the same account 
  • Standardizing the references used to identify accounts 
  • Enabling dual approval if user authorization is necessary 
  • Automating data feed loading in real time or in batches 
  • Setting up triggers for reconciliation or scheduling it for a specific time 
  • Automating report generation with a user review to ensure accuracy 

Implementing a reconciliation system can help organizations: 

  • Automate manual workflows such as verifying the accuracy of financial records and feed loading from separate systems 
  • Ensure the data is clean and organized by automating data preprocessing during feed loading 
  • Prevent balance sheet errors in a cost-efficient way 
  • Verify that all transactions are booked properly to the general ledger 
  • Ensure the data used for decision-making is reliable 
  • Detect and prevent unauthorized transactions with a higher level of accuracy 
  • Ensure compliance with anti-money laundering and anti-corruption regulations, as well as data security and privacy legal requirements 
  • Enable T+1 compliance 
  • Mitigate financial exposures and risks that stem from failing to comply with regulations or suspicious transactions going undetected 
  • Build stakeholder trust with reliable and transparent financial records 

 

background image

Optimize your transaction life cycle for cost and efficiency with Zoreza global