ATM Reconciliations

50 years on since the unveiling of the first ATM, 94% of adults in the UK use cash machines. AutoRek provides a transparent and actionable control regime to be put in place that fully supports ATM cash management, reconciliation and reporting. AutoRek improves operational performance, mitigates risk and drives up efficiencies, in a robustly controlled and auditable environment.

Benefits

  • Strengthens Controls and Governance Throughout the ATM Cash Cycle
  • Validates and Consolidates Data at Each Stage of the ATM Cash Cycle
  • Drives up Automatic Match Rates for all ATM Reconciliations
  • Allows Focus to be Redirected to Break Resolution and Exception Management
  • Ingests Existing Data Feeds in Any Format from Banks, Cash Ordering Systems, Cash Carriers, Credit and Debit Card Providers
  • Improves the Quality of Reporting Across ATM Networks - MI, Journals/Adjustments, Accounting Records

 AutoRek provides a transparent and actionable control regime to be put in place that fully supports ATM cash management, reconciliation and reporting

AutoRek

AutoRek is a scalable solution that streamlines the ability to work with unstructured data, disseminating ATM transactional data and pinpointing discrepancies at ATM level.

Reconciliations are undertaken at each stage of the ATM cash cycle – cash ordering, cash collection, ATM load, withdrawals, ATM de-cash, residual banking and scheme settlement. Break resolution and exception management is enhanced by incorporating data items including ATM ids, ATM location/address, cash in transit depot codes and cash denominations. Corrective adjustments can be automatically produced for write off of small tolerance differences, accounting for customer claims and schema settlement differences.

Operational issues that lead to longer term remediation are identifiable through categorisation, ageing and valuation of breaks.

Frequent and meaningful MI is automatically produced across the ATM network, depots and regions. Disputes are categorised across specific ATM regions, and volumes of transactions are monitored to determine which ATMs are the least used.

AutoRek’s accounting engine ensures that all ATM and bank transactions and balances are fully accounted for and supported by primary accounting records.

 

“We reconcile and report on a quarter of all cash transactions in ATMs in the United Kingdom.”

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Learn how AutoRek helps reduce costs, improve process efficiency and ensure on-going compliance with a range of regulatory reporting requirements.