StarRECON [Reconciliation & Settlement System]
StarRECON is a Comprehensive Reconciliation & Settlement system for Card Based / POS Based transactions, which has paved way to maintain mirror bank transactions from the Bank's Switch/Host/ATM-EJ/Interchange/Tie-up Banks, for managing net payments & receipts.
IntroductionBanks provides Debit / Credit Cards to their customers to facilitate them to do ATM Transactions like Balance Inquiry / Withdraw cash from ATM centers or POS Transactions like make purchases from any merchant outlets through out the globe, Internet Transactions like IRCTC, Online purchases, and round the clock. For this arrangement banks have tie-ups with shared Network's or partners like VISA, MasterCard, RuPay, AMERICAN EXPRESS, CUP etc. These shared Networks provide access in shared ATMs and at the merchant's place (Point of Sale). Every transaction depending on ISSUER or ACQUIRER goes through ATM, Switch, General Ledger (Host) and Shared Networks. End of the day each shared network sends reports to the issuer bank for those transactions occurred for the day using their network. Issuer Bank also generates corresponding reports for the day from General Ledger, Electronic Journal (ATM) and Switch. As the volume of transactions is huge in every bank and the trend is always increasing, the need of fully sophisticated software with minimum human intervention to prevent delay in process and maintain accurate results becomes mandatory nowadays; this is exactly where our StarRECON plays a pivotal role.
CGS Banking Solution - StarRECON
StarRECON - is a unique Reconciliation & Settlement System for ATM & POS based transactions, which has been specifically designed to cater to various technology needs of the banking and financial service industries. StarRECON - is highly parameterized, operational & decision-making support to the fast changing requirements of the banks.
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Over 3 Decades of domain knowledge in offering state-of-the-art retail banking automation