Automated
Reconciliation
Manual reconciliation processes for Cheque and EFT are cumbersome, resource-intensive, and error prone. Forget about trying to match bank feed data manually and let us show you how you can decrease costs associated with reconciliation by close to 100% with our automated solutions.
What's different?
We are the first and only technology provider in Papua New Guinea to offer end-to-end automated reconciliation. From data ingestion and matching to crediting, receipting and reporting. Zero humans, zero error. Forget about bank feeds and migrate to an automated, seamless reconciliation platform.
Analyse ->
Our platform analyses payment and account data from hundreds of data points.
Learn ->
Matching accuracy improves over time as our platform gets to know your customers.
Combine ->
Raw financial data is matched with relevant customer account data. Automatic. No Hassle.
How we do automated reconciliation
The NiuPay reconciliation process couldn't be easier. Zero human intervention, zero error.
Real-world matching accuracy of EFT and Cheque payments
Value of Cheque & EFT payments processed without human intervention
Financial errors in reporting data for the previous 2 year period
Common questions
Our reconciliation platform has been developed from the ground up for “messy” financial data and, in some cases, a lack of any meaningful data altogether! We’ll analyse, transform and contextualise almost any source of financial data, regardless of the standard or format.
Our algorithms typically match approximately 99% of all EFT and Cheque payments automatically, with zero human intervention. For the remaining unmatched payments, accuracy will increase naturally over time as our platform starts to “learn” your customer behaviour.
No problem! We’re used to working with both off-the-shelf and bespoke financial reporting and accounting systems. For example, if you need to supply clean, reconciled financial data to a Government authority, we can provide you with an appropriate connector to do this – zero humans.
Absolutely! In fact, this is one of the included “above and beyond” services that we provide to assist organisations to ensure they are maximising the value of our platform.
Use Case: Department of Lands and Physical Planning
NiuPay assisted the Department of Lands and Physical Planning of Papua New Guinea (DLPP) in the extraction, verification and reconciliation of 40,000+ historical payment records which, once completed, resulted in the identification of approximately K300,000,000 in Land Lease Rental arrears. In the last 2 years, the DLPP has eliminated business costs (overheads) associated with 98.7% of all EFT/Cheque payments and 100% of card-based payments.
