Streamline Transactions from Inception to Settlement – Speedily and Securely
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. Fluctuating volumes, 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 hosted model provide a single settlement position for all type of electronic payment transactions. Customizable to your specific requirements, we help our clients derive tangible value by ensuring delivery excellence and cost efficiency.
Precise Efficiency. Improved Control. Cost Optimization.
With a 74 % + market share, we are the trusted partner for reconciliation for over 30 banks, support more than 750 million transactions per month, and are the reconciliation partner for the largest bank in the country. Our PA DSS 2.0 certified products provide banks secure reconciliation services with minimal capital investments, shared infrastructure, and reduced cost of operations.
- Expert Multi-level Reconciliation Services
Our reconciliation services support
- Debit cards (VISA, MasterCard, RuPay, NFS)
- POS & eCommerce transactions
- Cash balances in ATMs / BNA / Cash Recyclers
- Multiple payment gateways, Internet banking, aggregators
- Mobile banking, IMPS, mobile top-up, Unified Payment Interface [UPI], mobile wallets, Bharat Bill Payment System [BBPS]
- Aadhar Enabled Payment Systems [AEPS], Micro ATMs [financial inclusion]
- NEFT, RTGS, ABPS
- Multiple hosts, currency and input files
- End-to-end Services
Using inputs from several sources our reconciliation services optimize transaction matching, balance settlement, dispute management, reporting, exception handling and governance.
- Integrated Platform
Our integrated platform automatically and accurately reconciles transactions and generates settlement entries based on predefined rules in acceptable batch upload formats.
- Efficient Back Office Support
The FSS’ Recon Suite handles the entire back office operations including extraction of transaction data, normalization, transaction reconciliation, resolution of exceptions and position reconciliation.
- Enhanced Business Performance
Our high-performance platform and extensive domain expertise enable accelerated time-to-market and enhanced banks’ business performance.
- 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.
- Secure Scalability
Our scalable browser-based solution and security processes effortlessly address rapid growth in transaction volumes and channels.
- Robust Infrastructure
We provide infrastructure, hardware, database and customized reconciliation systems. Activities can be executed from either the bank’s or our premises.