Sector

Payments

AutoRek is the go-to end-to-end reconciliation platform for some of the largest firms in the global payments sector. Our solution is specifically designed to help overcome the most complex challenges in managing reconciliations, financial data management and reporting requirements.

Payments industry outlook: Strategic priorities, operations, regulation and data

The benefits for you

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    Save time, reduce costs and increase overall efficiency with automation
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    Eliminate manual processes and spreadsheets to focus on value-add tasks
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    Comply with safeguarding rules and avoid penalties
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    Take control of your data with accurate and actionable MI
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    Improve month-end timelines to meet deadlines
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    Mitigate financial and operational risk, ensuring profitability

Who can benefit?

  • Payment facilitators
    End-to-end controls and workflows including data lineage, transaction matching and exception management resulting in streamlined payments processing.
  • Payment processors & gateways
    Data agnostic to allow for a multitude of rails data formats and configurable workflows to ensure business process is clearly defined and controlled within the solution.
  • Issuing banks
    Fully compatible with all card transaction data and direct integration with multiple databases and other partners.
  • Payment networks
    Fully scalable to meet huge volumes of transaction processing and automation of multi-system reconciliations.
  • Money transmitters & cross-border remitters
    Centralised control mechanism to manage customer accounts liquidity management in all currencies, applying FX conversion capabilities mixed with virtual accounts.
  • Acquiring service providers
    Combining settlement and bank reconciliations to allow for seamless flow of data across different verticals of the acquiring payments processes.

Eliminate manual processes to reduce costs

For firms operating in the payments sector, transactional volumes and the associated data is growing year-on-year. But managing this growth with spreadsheets presents an operational inefficiency as the industry continues to expand.

AutoRek is designed to circumvent the inefficiencies of manual processes through automated data ingestion, reconciliations and preparation of payments messaging. By automating financial control processes like exceptions and break management, categorisation and ageing, your skilled staff can focus on more value-add tasks.

A complete, end-to-end solution for greater efficiency

Gain total flexibility with the AutoRek platform, which utilises and exports data in any format and from any source. It comes complete with the built-in capacity to connect via APIs, including the accommodation of ISO 20022 messaging.

Prevent lengthy scale-up processes with operational software that is built with growth in mind and capable of handling limitless transactional volumes. Your firm can also choose a deployment that suits, whether that is a SaaS or on-premise solution.

Use cases

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    Safeguarding calculations
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    Network interchange calculations
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    Interchange fee reconciliations
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    FX calculations and re-evaluatuions
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    Scheme settlement reconciliations
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    Dispute management and chargeback processing
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    Wallet balances and transaction reconciliations
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    Merchant bank and services reconciliations
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    Settlement statements
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    Internal and external reconciliations
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    B2B payment reconciliations
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    System-to-system reconciliations
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    Network reconciliations
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    Processing reconciliations
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    Validation reconciliations

Unparalleled data control for better decision-making

Our payments solutions automate all data preparation activities and streamline breaks investigation processes into a single, convenient platform. It also allows you to manage dataflow and key activities using intelligent workflow capabilities.

Fully configurable dashboards can surface any MI or other key metrics required by your business, giving you complete control of underlying data. For peace of mind with audits, a comprehensive audit trail ensures clear visibility of all configurations and actions performed within the system.

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Save time with simplified safeguarding compliance

Comply with the FCA’s new regulations for payments and e-money firms with our first-to-market safeguarding solution. It has been designed to automate all the necessary reconciliations and segregate client funds in line with regulatory requirements. Access to comprehensive safeguarding reports will also reduce the time and money spent on annual audits.

A flexible solution to support your operations

At AutoRek, we understand that no two payments organisations are the same. Our industry, regulatory and technical experts work with you to design a custom solution tailored to specific operational requirements. The flexibility of our rules-based system allows you to design custom match rules, supporting one-to-one, one-to-many and many-to-many scenarios.

Supporting real-time payments

Our payments solution has been selected by FedNow as part of the technology infrastructure bringing instant payments to the US. FedNow plans to use AutoRek to overcome data management challenges, lower operational costs per transaction, address volume capacity issues and mitigate liquidity risk.

AutoRek’s data-agnostic platform has all the tools required to support a firm’s adoption of instant payments. It ingests data from any source and in any format in near real-time. The powerful supporting infrastructure can handle large transactional volumes and process data across multiple operational flows in seconds.

Automated data transformation and enrichment allow for reconciliations to occur in real-time, while the comprehensive audit functionality provides an accurate record of all activity processed in the platform. Automating this part of the payments lifecycle ensures real-time MI and reporting so issues can also be solved as and when they occur.

Payments solutions

Solution

Payment and e-money safeguarding

Solution

Automated reconciliations

Get ready to transform your reporting processes

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