AutoRek is a global provider of end-to-end automated reconciliation software, which strengthens the finance operations and controls of financial services firms. Live in 100+ organisations, the platform helps firms reduce costs, increase control, achieve compliance, and minimise the risk of misreporting.

Our solution has been developed alongside some of the largest financial institutions across the asset management, payments, banking, and insurance sectors. These include eToro, Arbuthnot Latham and Lloyds Banking Group.

Our configurable, rules-driven platform – specialising in financial data management – allows firms to automate and streamline data collection, validation, and reconciliation. This gives firms the transparency they need to meet regulatory obligations while ensuring good governance.

Use cases

Reconciliation automation

AutoRek automates and optimises the tasks reconciliation teams perform – such as preparing, reviewing and analysing data from various sources. The platform applies repeatable logic regardless of the data source, type, quality or volume. AutoRek is used for:

Bank reconciliations
Treasury reconciliations
Regulatory reconciliations
Cash/payment allocation
Accounting reconciliations
Intersystem reconciliations
Trade and asset reconciliations

Oversight and control

Our solutions provide end-to-end control. They enable firms to segregate tasks and gain oversight of core processes and data. Users review and approve through integrated workflow and case creation logic. The platform retains a full history of the actions they take. AutoRek is used for:

Break allocation, escalation and approval
Reconciliation review and sign-off
Management Information (MI) and report generation
Financial close processes
Improved auditability

Regulatory reporting

AutoRek’s automated reporting suite simplifies regulatory processes. It surfaces all data held within the platform, providing real-time management information (MI) on interactive dashboards. After the platform takes in data, it automates all data-related processes that feed into downstream reporting. AutoRek is used for:

Data enrichment and preparation
Full report configuration
Report generation
Integrated review and approval
Export reports in multiple formats
Export scheduler

Product features

AutoRek automates each stage of the end-to-end reconciliation process, from taking in data to reporting.

Data ingestion

Consumes data from any source and in any format, such as:

SWIFT
ACH
ISO 20022
Excel files

Takes in data from bank statement formats. The platform:

Transfers data in real-time from APIs
Automatically identifies source data formats
Supports OCR for paper sources
Integrates with ERP, front-office, email, trading, currency management and portfolio management systems

Data management

Consolidates detailed transactions to create an aggregated view
Merges third data source with raw data files like currency tables
Disaggregates or explodes bulk entries
Uses one data source for many reconciliations without re-importing
Provides reporting labels and features
Keeps full audit trail of original and transformed files
Performs data management without IT help

Intelligent matching

Recognises and suggests best results with intelligent match analysers
Allows user to configure match rules
Supports one-to-one, one-to-many and many-to-many match sequencing
Supports timing and age-sensitive match rules
Segregates user job roles for match rule creation, approval and execution
Provides high-speed matching for large volumes
Schedules match rule processing

Exception management

Integrates workflow to assign, route and track exceptions
Surfaces exceptions into dashboards and work queues
Automatically escalates breaks that exceed due dates or materiality levels
Provides consolidated view of all outstanding breaks, user work queues and bottlenecks

Attestation

Has centralised sign-off and attestation hub with full audit trails
Assigns ownership of accounts, transaction types and other criteria
Gives clear visibility of ownership across legal entities, business units and locations
Separates by job roles & duties
Creates and enforces sign-off hierarchies

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