OptiRecon

OptiRecon - Overview & Business Processes The purpose of a B&R module is twofold: 1) to give current clients and prospects a ‘closed-loop’ with regards to ATM processing and 2) to appeal to banks who may not be looking at an optimization system but are looking for new, cleaner methods of reconciliation. Banks typically assign an ATM to an internal account and it is this account that must be reconciled. Reconciliation consists of an Opening Balance, Transactions and a Closing Balance. Debits and credits must be cleared from this account on a regular basis (at most daily, at least monthly). The B&R system would consist of three separate processes. A bank may choose only ATM reconciliation or they could add the other two modules depending on their needs. The three business processes are the following: 1) ATM reconciliation – On a basic level, ATM reconciliation is necessary for a bank to comply with Generally Accepted Accounting Principles (GAAP). This will be the core piece of the reconciliation module. ATMs must be balanced on a daily basis to obtain overage/shortage information. Overages are key to responding to customer claims of being shorted at the ATM. Shortages may signify a vault or carrier issue that must be addressed. 2) Carrier Balance Reconciliation – Not all banks require that carriers hold balances or split cash on their behalf. However, those that do must also reconcile to the carrier to ensure that on both sides are the same. 3) Claims Processing – The result of shortages at the ATM often conclude with a claim to the carrier to request a return of funds. This module will facilitate that process by producing the claims request and providing a tracking mechanism to ensure resolution. If a bank uses only sealed cassettes with a carrier, this module will not apply.