Credit Union Automates Daily ATM & Shared Branch Reconciliation
Saving Over 20 Hours of Manual Work Per Week
Enhancing Member Service Through Back-Office Efficiency
How a community-focused credit union leveraged Reconwizz to automate complex daily tasks and reinvest time into member value.
The Challenge: The Daily Grind of Manual Reconciliation
A growing credit union was burdened by the daily manual reconciliation of its ATM network, debit/credit card transactions, and complex shared branching settlement files. The accounting team spent several hours each day manually matching thousands of transactions, a process that was not only tedious but also prone to errors that could impact member accounts and financial reporting. This daily operational drag prevented the team from focusing on more strategic, value-added activities.
The Solution: A Unified Automation Platform
The credit union implemented Reconwizz to bring automation, speed, and accuracy to its daily reconciliation processes. We provided a single, unified platform to handle their diverse reconciliation needs.
- ATM Cash & Transaction Reconciliation: Automated the daily balancing of cash withdrawals and deposits across their entire ATM fleet against switch reports and core system records.
- Card Transaction Matching: Implemented automated matching for all debit and credit card transactions, from authorization to settlement, including interchange fee verification.
- Shared Branching Settlement: Simplified the complex process of reconciling shared branching activities, automatically matching incoming and outgoing transactions from the network to ensure accurate settlement with other credit unions.
- Daily Reporting Dashboards: Provided the team with at-a-glance dashboards to monitor the status of all daily reconciliations, instantly identify exceptions, and track resolution progress.
Reconwizz transformed these time-consuming manual tasks into a streamlined, automated workflow, giving the credit union's finance team complete control and confidence in their daily operations.
Transformative Results
The implementation of Reconwizz delivered measurable improvements across the board, empowering the credit union to operate more efficiently and strategically.
"The time savings have been incredible. Reconwizz took our most tedious daily tasks and made them effortless. Our team can now focus on analysis and member service instead of being bogged down in spreadsheets. It has fundamentally improved our workday."