Evolving regulatory standards in the wake of rapidly growing electronic and digital payment methods have significantly disrupted the payment industry. Banks are under significant pressure to adopt new payment channels while ensuring performance efficiency, transaction security and timely reconciliation for proper accounting, settlement and dispute resolution. Secure settlement and reconciliation have become increasingly complex and expensive, given the rapid growth and diversity of electronic payment channels. Expert and experienced reconciliation services partners who offer comprehensive
solutions at an optimized cost can enable banks to efficiently and effectively manage their operations, simplify processes and reduce overhead costs.
FSS’ comprehensive multi-level reconciliation services on a managed services model provide an accurate and timely settlement position for all type of electronic payment transactions. Customizable to your specific requirements, we enable our clients to derive tangible value by ensuring delivery excellence and cost efficiency.
Using inputs from several sources our reconciliation services optimize transaction matching, balance settlement, dispute management, reporting, exception handling and governance.
Versatile Range of Reconciliation Services
FSS comprehensive multi-level reconciliation services simplify processes and efficiently manage reconciliation for all types of electronic payment transactions. Our integrated platform automatically and accurately handles the entire back office operations including extraction of transaction data, normalization, transaction reconciliation, resolution of exceptions and position reconciliation. Our scalable browser-based solution and security processes effortlessly address rapid growth in transaction volumes and channels.
Reliable Risk Mitigation
Our PCI-DSS compliant services and our PA DSS 2.0 certified products ensure total data security, while multi-level reconciliation considerably minimizes risks. FSS has compliant production and DR data centres and follows industry best practices to ensure high level service uptime and performance throughputs, business continuity, and prompt disaster management.
Our subject matter and process experts bring extensive experience in banking and financial services and in-depth understanding of typical business processes and operational issues. They support in timely follow-up and closure of all the broken / exceptional transactions. FSS’s reconciliation operations team promptly communicates potential issues in near real-time to help resolve irregularities timely and accurately. The team also facilitates service efficiency improvements to ensure delivery excellence and strict adherence to service-level agreements (SLAs).
Harnessing our business intelligence engine, we provide customized dashboards and reports for managerial users to view the transactions reconciliation status from different dimensions. FSS provides an efficient and scalable reconciliation environment with high data accuracy and transparency to ensure compliance and minimize operational risks and costs.
Reduced Operating Cost
Our unified platform enables banks to manage reconciliation for all types of electronic payment transaction under one roof, thereby reducing operating costs significantly. Our wide range of reconciliation services are tailored to meet your specific requirements that not only help lower costs but also improve operational efficiency.