Specific solutions for banks
RecoMatics offers various solutions that were specifically created for banking institutions. This includes scanning paper transfers and cheques or the automatic processing of SEPA mandates. Each of these solutions provide a major efficiency gain. This was also understood by banks such as Europabank, Belfius, Crelan, BBVA and AXA Bank.
Electronic transfers were introduced a few years ago. Still, thousands of consumers still use paper transfers. Transfers that banks have to, in principle, process manually. This is a time-consuming and error prone process. This is why RecoMatics developed adapted software with which these paper transfers can be processed automatically.
The principle is as simple as it is efficient. When the transfers have been scanned – our very first specialty – the RecoMatics software ensures the correct recognition of the data (among others, thanks to Advanced Tandem Voting for recognition). In addition, corrections and changes can be made quickly with the user-friendly EasyForm Key Entry module.
This specific bank solution also offers support for priority processing (VAT, tax, social security) as well as for random signature control and the ‘four eyes principle’. If required, it is integrated with the bank-specific systems for electronic banking.
Automatic processing of SEPA mandates
Due to the changed legislation in Belgium on direct debit orders, some companies need to enter large volumes of SEPA mandates into their system manually. However, a number of banks takes over the processing of these mandates from their clients. They do this on the basis of the specifically designed RecoMatics software with a high level of automation.
Cheques are becoming increasingly rare. This doesn’t alter the fact that they still have to be scanned before they can be passed on to the payment institution. Thanks to RecoMatics software the ‘digitalisation’ of the cheques runs smoothly. It sees to the scan, recognition of the optical line, key entry of amounts, balancing and the creation of the accompanying dockets for the National Bank.