Skip to main content

With the proliferation of new payment mechanisms banks need to reconcile many types of digital payment transactions including credit, debit, prepaid, ATM, POS, P2P and mobile transactions. Current payment reconciliation systems are, however inflexible to support new payment classes, new file formats and data

resulting in protracted time to onboard payment reconciliations quickly and facilitate multi-party reconciliations. An inability to keep up with new payment classes and growing transaction volumes, introduces additional operational risks, potentially increasing number of exceptions and dispute volumes and costs.

0 +

Customers including leading banks, processors and telecom companies

0 B

Records annually reconciled


Types of reconciliations supported

0 K

Multi-currency transactions reconciled annually

0 %

Lower direct costs as compared to partially automated processes

FSS Smart Recon

FSS Smart Recon offers a highly configurable platform for onboarding new payment classes and automates the complete reconciliation operations spanning administrative management, data integration, transactional matching and exception management and reporting.

Designed to match high-volumes of records, FSS Smart Recon supports a wide diversity of payment classes with built-in flexibility to rapidly onboard new reconciliation processes for multiple payment channels and scheme-based payments. Complete visibility into transaction records across payment systems and automatic identification of exceptions reduces administrative overheads by saving time and audit costs, mitigates risk and enhances customer satisfaction.

Multiple Reconciliation Types

Implemented by leading banks and processors globally, FSS Smart Recon, a dedicated platform for payments reconciliation supports Card reconciliation, ATM reconciliation, Instant Payments reconciliation, Payment Gateway and Wallet reconciliation.

Card Reconciliation
ATM Reconciliation
Alternate Payment Channel Reconciliation
Payment Gateway and Wallet Reconciliation

Key Capabilities

Automated processing

Sophisticated ETL processes streamline data collection and validation into one centralized system to quickly identify matched and unmatched transactions. This eliminates tedious manual process and accelerates account close cycles.

Operations workbench

From set-up to closure all reconciliation activity can be managed from an intuitive browser-based user interface, with auditable workflows simplifying operations and service governance.

Use case library

Built-in library of pre-configured use cases for standard reconciliations significantly improves onboarding time.


Settlement and funds movement of net positions and electronic payment transactions such as credit card, debit card, ATM, POS, and mobile transactions.

Exception management

All reconciliation exceptions and breaks (un-reconciled, chargeback, claim, complaint) are available for exception management analysis enabling the user to view, manage and clear breaks and credit funds into the system.

End-to-end dispute management

The dispute and chargeback management module is a powerful workflow management system for managing the complete lifecycle of the dispute and analyzing the information to predict and avoid potential chargebacks via proactive credit adjustments wherever applicable.

Fee management

Fees and commissions module for banks and processors to rapidly configure a range of fees , including interchange fees, gateway fees, processing fees, service fees, recurring fees, commissions, and more. It supports a wide range of multi-dimensional pricing modules including transaction-based, volume-based, percentage-based, threshold-based, flat, and tiered rate schedules.

Intelligent rule-based pattern matching

With Intelligent Transaction Matching, banks and processors can automate high-volume, labor-intensive reconciliations and free up time for investigating discrepancies and performing analysis. FSS configurable, rule-driven matching process provides the highest automated match rates for multi-party reconciliation without depending on technical experts.

Scalable to match billion of records

High-volume, complex matching needs exist across the board and require matching functionality that is highly scalable. Benchmarked to match 1 billion transaction records hourly, FSS Reconciliation suite allows customers to automatically match and reconcile billions of transactions in minutes.

Secure reconciliation operations

A comprehensive security framework including physical security, data encryption, user authentication and application security underpins the solution to safeguard sensitive payments data.

Rich dashboards and reporting

Enable process monitoring, immediate action on errors and quick investigation and resolution of exception and transaction disputes.

Transform Reconciliation Operations with a Managed Services Approach

FSS offers a full services Reconciliation portfolio to help customer improve operational efficiencies. Customers have the option to extend a managed technology service model or a managed technology and operations services model. We offer flexible on-shore and off-shore services tailored to customer needs.


Customers benefit from FSS unique combination of deep payments expertise, proven global solution and experienced staff with practices and deep operational expertise to manage reconciliation. Under the umbrella of Managed Services, FSS assumes complete responsibility for end-to-end operations including reconciliation, complaint redressal and regulatory reporting across payment classes.

Success Stories Delivering Value

FSS has experience of successfully serving a wide base of customers from multinational banks, payment processors and telecom operators to wallet companies. FSS 30 years’ experience in the payment domain guarantees ability to meet unique reconciliation needs of each institution.

Our customer is the largest private multinational bank in India in terms of market capitalization and the fifth largest bank in terms of assets. The Bank has a network of 4,787 branches and 12,635 ATMs across India. FSS Smart Recon reconciles 3 million ATM transactions and 1 million POS transactions daily for the bank. FSS Smart Recon was extended to support new payments classes including IMPS (Immediate Payment Service) Reconciliation, Micro ATM Reconciliation and Domestic Interchange support for business advancements.

Our customer is the largest public sector bank in India and has deployed FSS Smart Recon as the end to end reconciliation solution for its customer base of 424.2 million debit card holders. FSS has helped the bank to successfully calculate the fees charged by interchanges for every transaction made. The system also reconciles the calculated fees with the charge from the interchange. The process revealed the bank was incurring an additional annual charge of $57,360 which led to direct savings to the bank’s bottom line.

Our customer is a full-service commercial bank in the UAE. The company needed a solution to automate the manually intensive ATM Cash Tally process. FSS ATM Cash Tally provided the perfect match for the bank’s Cash Tally needs, by handling Switch, EJ, CBS and CRA data. The system supports:

  • Reconciliation records from 400+ ATM terminals
  • Auto-scheduling and notification of data upload via various channels, seamless processing and GL updates without any manual intervention
  • Intra-currency settlement processing
  • Seamless ATM Cash Tally and generation of EJ missing reports and Tally reports
Benefits to Banks

Associated Products and Services

Reconciliation Services

Partner with the leading global player for comprehensive reconciliation services

Payment Analytics

Maximize business performance with data-driven insights

Payment Gateway

Enabling cashless, cardless payments

Debit CMS

Global leader in card management systems

Prepaid CMS

Single card management system – multiple uses

To give you the best possible experience, this website uses cookies and by continuing to use the site you agree that we could save them on your device. Cookies are small text files which are placed on your device and which can remember your preferences / some details of your visit.