08 Nov 2023

The card business within the CBS B2 system is continually advancing, with regular enhancements to its subsystem functionalities. CS Company has meticulously ensured that the operations of the card back-office, logistics, acquiring, handling of disputed transactions, and payroll project management are user-friendly and technologically advanced. 

Reconciliation represents another essential feature in the card services workflow, which saw substantial refinements at the end of 2021. These improvements have introduced more adaptable configurations, allowing for expanded compatibility and operational scope with diverse card systems. 

Reconciliation as a Tool for Business Process Optimization 

Reconciliation is a process of verifying financial records and transactions across various databases to ensure their alignment. In the banking industry, this practice typically entails the alignment of bank and card system records to guarantee their uniformity, precision, and up-to-dateness. 

In an environment where a vast number of transactions are processed on a daily basis, even the slightest inconsistencies or errors can lead to severe financial and reputational consequences. Therefore, reconciliation is not merely a preventative measure against inaccuracies. It's an essential strategy for managing operational and reputational risks effectively. 

When discrepancies are detected during the reconciliation process, banks must decide on the best course of action to address them. In some instances, the identified discrepancies may require manual transaction processing. In other cases, if the variances are due to configuration errors in the CBS or changes in the processing center's operations, system reconfiguration or an adaptation of the card back-office's workflow to accommodate such changes might be necessary. The origin and nature of the discrepancies are decisive factors in choosing the appropriate response. 

Reconciliation assists banks not only in comparing data across different systems but also in identifying the root causes of mismatches in databases. It serves as a versatile tool that enables banks to effectively manage financial data, ensuring its consistency and responding promptly to any irregularities. 

Advantages of the CS Reconciliation Solution 

The CS reconciliation solution stands out for its numerous advantages: 

Flexibility in configuration. Banks can flexibly adapt the reconciliation process to the specifics of their CBS B2 settings and chosen Processing Center (PC). With the CS reconciliation solution, it is possible to: 

• Perform reconciliation of various types of balances provided by the processing center, including main accounts, overdrafts, and blocked amounts. 
• Select the necessary types of PC technical accounts for reconciliation and link them with corresponding transaction accounts in CBS B2. 
• Conduct reconciliations for both current and historical balances. 
• Set precise times, not just dates, for balances reconciliation. 

Compatibility with various card systems. The ability to work with different card systems puts the CS solution at the forefront of customized solutions. Popular systems such as IS-Card, WAY4, and SmartVista are already supported. Thanks to the solution's adaptability, integration with new systems is possible in the future. 

Ease of implementation. A distinctive feature of the CS solution is its rapid deployment and the ability to configure compatibility with new card systems quickly. Even if a bank chooses a card system that has not previously been integrated with this reconciliation solution, customization and implementation of the functionality can be completed in the shortest possible time. 

Speed. The high speed of data processing allows for reconciliations to be performed in real-time or within a very short timeframe. This feature is particularly important in the dynamic banking environment, where quick detection and correction of errors can significantly reduce financial and reputational risks. 

Custom configuration and ongoing support. The highly qualified specialists at CS provide a full range of support from setup to daily use, ensuring the reliability and stability of the reconciliation process. 

How does the CS Reconciliation Solution work? 

The reconciliation process offered by CS is highly customized and begins with meticulous system configuration, taking into account the specific requirements of each bank. This configuration involves adapting parameters to match the unique processes of the financial institution, ensuring proper interaction between the CBS B2 and the processing center. 

The initial stage of implementing the reconciliation solution often uncovers various discrepancies due to differences in formatting and processing of report files between the CBS B2 and the PC. For instance, it might be found that some accounts are reflected in the PC reports but are not accounted for in the CBS B2 system, or vice versa. To achieve full compatibility and data accuracy, a CS specialist makes adjustments and ensures that the system correctly identifies and processes all necessary entries. 

After initial discrepancies are resolved, the bank's specialists can regularly perform reconciliations, accurately comparing CBS B2 data with the card system's data. Should any discrepancies be detected, the system generates detailed reports, allowing the bank to quickly respond to errors and make adjustments in accordance with its internal procedures. 

In the final stage, after successful configuration and stabilization of the system's operation, CS continues to provide client support, ensuring its uninterrupted functioning and adaptation to changes in the bank's financial operations or other requirements. 

The Bottom Line 

The reconciliation solution from CS Company is tailored through flexible configurations to adapt to the unique processes and needs of a financial institution, ensuring seamless interaction between CBS B2 and the processing center. 

Compatibility with various card systems, rapid implementation, customized settings, and professional support ensure that banks can conduct reconciliation efficiently, in line with their unique operational features. CS provides comprehensive support to address any issues that arise both during the integration of the solution and in its subsequent use. This guarantees reliability and stability of reconciliation in the long term. 

For additional materials and personalized consultation on ordering subsystems for card business, please send a request to the email: [email protected].