+91 70111 97831
  • About us
    • Data Analyst Team
    • Magazines Sections
    • Editorial Team
  • Advertise with us!
  • Business review
  • Guest writers
    • Guest Contribution
  • Subscription
  • Career
  • Testimonials
  • Contact us
Friday, February 3, 2023
International Magazine
Business Connect | Best Business magazine In India
Upcoming Event
  • News
  • Magazine
  • Interior Design
  • Press Release
    • PR Enquiry
  • Success Stories
  • Latest Edition
  • Launchpad
  • Blogs
  • Testimonials
No Result
View All Result
  • News
  • Magazine
  • Interior Design
  • Press Release
    • PR Enquiry
  • Success Stories
  • Latest Edition
  • Launchpad
  • Blogs
  • Testimonials
No Result
View All Result
Business Connect | Best Business magazine In India
No Result
View All Result
Home Lounge interview

i-Recon

Reconciliation & Settlement system

Anurag Tiwari by Anurag Tiwari
January 25, 2023
in Lounge interview
i-Recon
Share on FacebookShare on Twitter

i-Recon

Reconciliation & Settlement system

Reconciliation is an accounting process that uses various sets of records to ensure figures are accurate and in agreement. Reconciliation is the key process used to determine whether the money leaving an account matches the amount spent, ensuring the two values are balanced at the end of the recording period.

Reconciliation Process:

Transaction reconciliation takes place based on various ways of reconciliation for transaction matching. The system supports 2-way, 3-way and 4-way reconciliation. ATM cash balancing is taken along with chargeback management/ dispute resolution for all transactions, preparation of settlement vouchers, generation of unloadable files and exception reporting, interest rates, maintaining records for all the bank’s transactions. System is optimized for multiway reconciliation.

Key Features:

• Platform independent, with multiple Dashboards
• In memory processing
• Supports 3-way and 4-way reconciliation
• Efficient and high-performance centralized reconciliation system with T+1 TAT
• Built-in FRMS / Analytics

Business Benefits:

• Workflow based Dispute Management
• Flexible with compatibility for customization as per bank
• Generates Payment Vouchers, Settlement and Statutory Reports
• Fees, Interchange, GST, TDS and expense income calculation
• Eliminates risk of manual errors which may result in financial loss
• Handling exponential increase in transaction volumes without additional cost

The PA DSS certified Enterprise Wide Reconciliation and Settlement i-Recon© product of IDBI Intech is designed on latest AI based technologies to meet the reconciliation and settlement of daily transactions from various sources like NPCI (NFS / RuPay), VISA, MasterCard, CashNet, Amex for ATM & POS, ATM Cash In Accounting using EJ / CBS / Switch / CBR (C3R), Digital Banking transactions like IMPS / UPI / BBPS / AePS etc., digital wallets, Card to Card transactions, Contactless Cards, Nostro Accounts (Swift), Dividend etc. up to the maximum possibility of matching and in highly efficient time bound manner. i-Recon© is purely future proof and it is ready to adopt upcoming payment channels. PA DSS certification is an industry standard accreditation for secured payment systems.

Must Read:-

  • Upcoming List of Top Indian Web Series of 2021
  • Top 10 richest player of the world 2021
  • Top 10 highest-paid Indian Athletes 2021
  • Top 10 highest paid CEO in the World
  • Top 10 richest person of India
  • Top 10 Highest Paid CEOs of India
  • List Of Most Followed Facebook Pages in 2021
  • The Success Story of Jeff Bezos
  • Success Story Of Elon Musk
  • Top 10 Business Magazine In India
  • Top 10 Business Newspaper In India
  • Top 10 richest billionaires in the world 2021
  • Upcoming English Web Series in 2021
  • Top 10 Tourist Places in India, places to visit after lockdown
Previous Post

Mining 360 Services

Next Post

Jerry Seinfeld Success Story: From Scribbling Jokes to Touching the heights of Stardom

Related Posts

TATTVAM & CO.
Cover Story

TATTVAM & CO.

by Anurag Tiwari
February 3, 2023
0

TATTVAM & CO. A trailblazer introducing ‘new-age’ services to the business landscape. As the business grows multi-fold, its complexities multiply...

EzeePay
The 10 Most Promising Fintech Solutions Providers in 2023

EzeePay

by Anurag Tiwari
February 3, 2023
0

EzeePay An Emerging Player in the Payments and Utility Space, is Streamlining Banking Services in Rural India Digital transformation has...

NEXT-GEN REALTY OXYGEN

NEXT-GEN REALTY OXYGEN

February 3, 2023
TheCraftTank

TheCraftTank

February 2, 2023
PIONEER GROUP

PIONEER GROUP

February 2, 2023
Mykare Health

Mykare Health

February 2, 2023
Next Post
Jerry Seinfeld Success Story: From Scribbling Jokes to Touching the heights of Stardom

Jerry Seinfeld Success Story: From Scribbling Jokes to Touching the heights of Stardom

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent News

3 Work-From-Home Digital Careers Trending Right Now

3 Work-From-Home Digital Careers Trending Right Now

February 3, 2023
Farewell to a Cinematic Legend: K Viswanath, 92, Honored with Dadasaheb Phalke Award, Dies

Farewell to a Cinematic Legend: K Viswanath, 92, Honored with Dadasaheb Phalke Award, Dies

February 3, 2023
TATTVAM & CO.

TATTVAM & CO.

February 3, 2023
Explained: How Chat-GPT Works and Why It's Bigger Than You Think

Explained: How Chat-GPT Works and Why It’s Bigger Than You Think

February 3, 2023

Recommended

Miss Universe pageant to allow mothers & married women to participate from 2023

Miss Universe pageant to allow mothers & married women to participate from 2023

August 22, 2022
Asha Chemicals: manufacturing products for every cleaning need

Asha Chemicals: manufacturing products for every cleaning need since 1992

November 5, 2020

Most Popular

3 Work-From-Home Digital Careers Trending Right Now
Blog

3 Work-From-Home Digital Careers Trending Right Now

February 3, 2023
Farewell to a Cinematic Legend: K Viswanath, 92, Honored with Dadasaheb Phalke Award, Dies
News

Farewell to a Cinematic Legend: K Viswanath, 92, Honored with Dadasaheb Phalke Award, Dies

February 3, 2023
TATTVAM & CO.
Cover Story

TATTVAM & CO.

February 3, 2023

Business Connect is a business magazine whose name is derived from Business Community which connects entrepreneurs, executive officers and VCs. With a mission to have one of the highest readership figures of senior-level executives and investors in India, Business Connect brings its edition on monthly basis.

Follow Us

Recent News

3 Work-From-Home Digital Careers Trending Right Now

3 Work-From-Home Digital Careers Trending Right Now

February 3, 2023
Farewell to a Cinematic Legend: K Viswanath, 92, Honored with Dadasaheb Phalke Award, Dies

Farewell to a Cinematic Legend: K Viswanath, 92, Honored with Dadasaheb Phalke Award, Dies

February 3, 2023

Contact Information

Address: 807, DDA 2, District Centre, Janakpuri West, New Delhi-110058

Phone Number: +91-11-41065208, 42636209

Mail: abhishek@businessconnectindia.in / events@businessconnectindia.in / info@businessconnectindia.in

  • About us
  • Why us
  • Healthcare
  • Guest writers
  • Career
  • Contact us

© 2020 All Rights Reserved by Business Connect India

No Result
View All Result
  • News
  • Magazine
  • Interior Design
  • Press Release
    • PR Enquiry
  • Success Stories
  • Latest Edition
  • Launchpad
  • Blogs
  • Testimonials

© 2020 All Rights Reserved by Business Connect India