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Redtech Ltd

Payment Products

Intelligent Reconciliation

Fast, Accurate Zero-Touch Transaction Reconciliation

As new payment methods continue to emerge, banks must reconcile a variety of digital payment transactions, such as credit, debit, prepaid, ATM, POS, P2P, and mobile transactions. However, existing payment reconciliation systems lack the flexibility to accommodate new payment categories, file formats, and data. This inflexibility results in extended onboarding times for payment reconciliations and complicates multi-party reconciliations.

The inability to adapt to new payment categories and increasing transaction volumes introduces additional operational risks. This can potentially lead to a higher number of exceptions, increased dispute volumes, and elevated costs.

Features

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Redtech Intelligent Reconciliation

Redtech Intelligent Reconciliation provides a versatile system for integrating new payment categories and fully automating reconciliation processes. This includes administrative oversight, data synchronization, transaction alignment, and exception handling with comprehensive reporting.

Engineered for high-volume record matching, it supports a diverse range of payment categories and swiftly implements new reconciliation workflows. It ensures full transparency into transaction data, automatically flags exceptions, streamlines administrative tasks, reduces time and auditing expenses, mitigates risk, and improves customer satisfaction.”

Reconciliation Types

Adopted by prominent banks and processors worldwide, Redtech Intelligent Recon is a specialized platform for payments reconciliation. It facilitates various types of reconciliation, including card, ATM, instant payments, payment systems, and wallet reconciliation.

Card Reconciliation

Supports international schemes like VISA, Master Card, JCB, Union Pay International, Amex.

Supports all typical file formats made available by Interchanges.

Generates settlement report for Interchanges.

Robust exception management and reporting for analyzing unmatched records for further knock-offs.

Supports auto-match and relax (variance) match.

Interchange fee reconciliation for verifying accuracy of transaction fee charged to the bank.

Dispute management and chargeback lifecycles.

ATM Reconciliation

The reconciliation of ATM transactions involves processing data from multiple sources including switch, host (CBS), electronic journal (EJ) from ATMs, cash balance report (CBR) and cash-in-transit (CIT) agencies.

Reconciles Cash Balance.

Robust ETL (Extract, Transform, Load) Engine.

Feature-Rich Dashboards.

Balances Transaction.

Executes Cash Increment or Decrement Reconciliation.

Automated Voucher Generation.

Payment Channel Reconciliation

Manages biller data for reconciling BBPS off-us transactions.

Manages business correspondent data for reconciling AEPS transactions.

Addresses timeout and adjustment cases for IMPS and UPI, and initiate TCC, RET, DRC, and RRC reports.

Dispute resolution procedure with response time & notification system for alternative channels to ensure prompt handling of customer grievances.

Payment Systems & Wallet Reconciliation

Balances wallet expenditure, wallet funding & refilling transactions, and wallet-to-wallet transfers.

Produces balanced and unbalanced reconciliation reports.

Adjustable rule configuration to reconcile transactions using various criteria.

Generation of adjustment files where necessary for integration into the CMS.

Core Functions

  • Charge administration
  • Smart algorithmic pattern recognition
  • Expandable to handle billions of records
  • Secure settlement operations
  • Robust dashboards and reporting
  • Automated operations
  • Operations dashboard
  • Reconciliation
  • Error handling
  • Integrated dispute resolution

Benefits to Banks

Optimizes Workflow Performance

Cuts operational expenditures and assures the maximum automation levels and matching rates through detailed match rules. Enables economies of scale by expediting the swift on-boarding of new reconciliations.

Boosts Client Satisfaction

Reduces dispute resolution time, leading to increased customer satisfaction ratings

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