AutoRek is a powerful automated reconciliations solution, coming complete with everything your company needs to streamline your data processes. The solution helps firms simplify the collection, validation and reconciliation of data, as well as providing the transparency and good governance necessary for a comprehensive, automated reporting process.
AutoRek's range of deployments are implemented in many of the world's largest corporations and vary from complex inter-company reconciliations to high-volume bank processes. The solution is a purpose built, fully scalable reconciliation tool with all the essential components built in. AutoRek mainly operates within the FS sector, servicing many large banks, asset managers and insurance firms. The largest reconciliation deployment managed up to 2.4 billion transactions per hour.
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AutoRek Features
- Cost reduction: AutoRek's cloud-based solution reduces IT costs significantly.
- Automation: Incoming data is automatically aggregated, validated and enriched so that users can focus on resolving exceptions.
- Data templates: Available to load complex files from multiple sources.
- Intelligent workflows: To enrich, categorize, prioritize, re-assign and escalate high-risk transaction to multiple teams.
- Self-sufficiency: Users can easily create and manage data feeds, match rules, account setup for existing and new reconciliations.
- Regulations: Single solution to support multiple regulations i.e. CASS, EMIR, MiFID II, IFRS 17, ISO 20022.
AutoRek Target Market
The AutoRek platform services a large number of clients worldwide including leading asset managers, leading banks, payments and insurance companies. They work with employees from across the business within the Finance, Operations, Compliance and IT departments.
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User Reviews of AutoRek
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As a firm with a huge volume of transactions, AutoRek has freed up our time so that we can focus on the errors and breaks, rather than the manual tasks. Since implementing the product, we are already seeing an ROI.
Our client money reconciliation process has been reduced from two full-time equivalents daily, to around 15 minutes per day. This has freed up our team’s time to spend on other critical processes, including investigation and resolution of breaks, innovation and automation and ultimately supporting the wider growth goals of the business. We are already seeing significant ROI from our investment and are very excited for the future
iSoftware4Banks, Inc was looking to resell a reconciliation tool to sell to Banks and Credit Unions. We reached out to several providers and the senior team who are all former banks who held senior positions decided to go to market to serve our clients and new clients with AutoRek.
AutoRek is very flexible and it is not limited in what it can do. It covers all areas of finance, reporting, bank to bank, budgets etc. It is not limited in its ability at all. Many areas within an organization can use this software. To understand and see it in action you need to have a demonstration and you will be surprised of all its enhanced capabilities.
Honestly, there is nothing I can honestly state other than I wish I had it in banking career.
