Transaction Reconciliation System (TRACE)

Transaction Reconciliation

The MAXIMUS TRACE system offers total automation of reconciliation process for daily balancing of transactions effected through ATM and POS networks based on transaction logs collected from different systems. Files received from payment networks such as RuPay, Visa and MasterCard are also part of the system input. On importing the required transaction logs generated by various terminals and other systems involved, TRACE processes the transaction logs to produce reconciliation reports greatly simplifying the settlement process.

TRACE assists a bank to easily reconcile daily on-us (bank’s own customers) and off-us (other bank customers) transactions. Its sophisticated reconciliation algorithm and file management module work together to import, archive and compare all related logs to provide a wide variety of reports that can be used by the bank for settlement with other banks.

The TRACE system checks all transactions done during a certain time period to identify discrepancies like shortage or excess credits. The reconciliation process generates TTUM and other reports on a periodic basis which allows the bank to carry out settlement for shortage or excess credits observed. Further, it saves the entire transaction comparison process for future auditing purposes.

Following data is used in the ATM transaction reconciliation process:

EJ Logs: Electronic Journal (EJ) log is generated on each ATM by the ATM software. This is an important input for the reconciliation process. Where the bank has so opted, EJ logs from all the ATMs can be pulled daily in auto-scheduled or manual mode by the MAXIMUS INFOXCHANGE application.
Switch Logs: EFT Switching provides the Transaction Log File (TLF) at the cut-off time, generally 9:00 pm daily. This file is another input for reconciliation.
GL Logs: General Ledger (GL) is extracted from the CBS at cut-off time, generally 12:00 midnight on all working days.
NPCI/Visa/MasterCard Logs:Logs generated from different payment networks are part of the input data for TRACE.
CBR Data: Cash reconciliation at ATM is performed by the Cash Replenishment Agency (CRA) and Cash Balance Report is produced. The CBR is also uploaded into the reconciliation system as an input.

TRACE creates a number of reports such as:

Daily On-Us Transaction Status
Daily Off-Us Transaction Status
ATM Cash Balancing
Suspect Transaction
Cash Dispense Summary
EJ Exception
Last Reconciliation Status
Customer wise Transaction
Daily Consolidate CBR
Hanging Transactions
Hanging Transactions Summary
Hanging Transactions Category-wise
Force Match Transactions

Application Features

Support for 2-way, 3-way and 4-way reconciliation
Built-in scheduler for data/file collection with support for FTP, SFTP, FTPS and other file transfer modes
Automatic determination of time window for carrying out reconciliation
Covers on-us and off-us transactions
Considers ATM dispense counters for cash overages/shortages
ATM Configuration
Suspect transactions, TTUM and other transactions part of reconciliation
Produces different statutory, regulatory, audit and business related reports