Portfolio Statements

As with most automated solutions, reconciliation engines generally depend upon receiving structured message types such as the MT535 and MT536 which can be captured and processed automatically.

Statements that cannot be provided in structured message format will typically be received in as PDF, spread-sheet, or other such document types usually via E-mail or Fax. The reconciliation team are then tasked with manually entering details into a reconciliation system (or spread-sheet) that, typically, won’t be well suited for such an operation (the focus being on automation), in order to complete the reconciliation. The time taken to manually input unstructured data can impact heavily on the overall process and impede the rate at which reconciliations can be completed and exceptions identified can be investigated.

SCANit's ability to automatically capture data from any of the above file types and extract key information in order to build export message types such as those mentioned above, i.e. MT535 and MT536, eliminates the manual input requirement, turning the entire operation into one of exception processing, which ensures operational efficiencies are maximised and risk is kept to a minimum.

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