SunGard enters ATM reconciliation arena

SunGard, a provider of software and processing solutions for the financial services sector, has announced the launch of its IntelliMatch Operational Control solution for ATM and card reconciliation.The solution helps FIs improve operational efficiency by streamlining their ATM and Card reconciliation processes, said SunGard in a press release.

IntelliMatch Operational Control helps financial institutions deploy enterprise matching and reconciliation solutions that can promote business growth through rapid on-boarding of new reconciliations, consolidation of infrastructure and processes, and optimization of processes for greater cost-savings and business efficiency.

In particular, the solution will help banks to:

• manage ATM cutoff and replenishment timing issues;
• improve the quality of ATM e-journals and transactional data;
• handle disputes and failed transactions;
• manage on/off us, issuer and acquirer transactions;
• create card settlement/payment file generation; and
• manage the manual process for reviewing transaction breaks and general ledger entries.

"As the volume of card activity across ATMs and point-of-sale devices increases, timely and accurate validation of transactions can become more costly, increase risk and be prone to error," said Richard Chapman, SunGard director of product management for IntelliMatch. "Reconciliation, process automation and the timely identification of anomalies and exceptions are vital to help ensure better risk management and that operational costs are reduced."

Read more about transaction processing.