NBS Bank Malawi Case Study

The Challenge: Complex Operations and Hidden Risks

NBS Bank Malawi, a key player in the nation's financial sector, was grappling with a highly complex operational environment. With a growing number of digital channels and services, their manual reconciliation processes were stretched to the limit. This created significant challenges, including a high risk of internal fraud, operational bottlenecks, and a lack of clear, timely financial oversight. The bank needed a robust, scalable solution to automate dozens of unique reconciliation scenarios and regain full control over its financial operations.

The Solution: A Tailored, Multi-faceted Automation Strategy

Reconwizz worked closely with NBS Bank to implement a comprehensive automation strategy that addressed their unique challenges head-on. We deployed our flexible platform to automate over 20 distinct reconciliation processes across the entire organization. Key implemented solutions included:

• Utilities Reconciliation: Automated matching of utility bill payments made through the bank's channels.
• ATM Withdrawal Reconciliation: End-to-end reconciliation of cash withdrawals from their extensive ATM network.
• Mobile Money Reconciliation: Seamless reconciliation of transactions from various mobile money providers.
• Card & POS Transactions: Full automation for VISA, Mastercard, and UnionPay transaction lifecycles.
• Internal Suspense Accounts: Clearing and managing internal accounts with automated workflows and aging analysis.

By implementing more than 20 tailored solutions, Reconwizz provided NBS Bank with a single, unified platform to manage all reconciliation activities, enforce controls, and gain real-time visibility across all channels.