Fi911

JUNE 18, 2024

Visa Resolve Online provides real-time updates, documentation support, and detailed case management tools, thereby enhancing transparency and reducing the time typically required to settle disputes. Retrieval Requests : Issuer’s requests for specific documentation from the merchant to verify the validity of the transaction.

Disputes 80

Disputes Issuers Acquirers Compliance 80

Nanonets

APRIL 24, 2024

Bank reconciliation typically involves gathering bank statements and transaction records, comparing them with the corresponding entries in the company's accounting records, and investigating any discrepancies. This process ensures the integrity of financial data and confirms that the reported financial position is accurate.

Reconciliation 52

Reconciliation Audit Procedures Correspondent 52

Fintech News

JANUARY 30, 2024

Etiqa Insurance Singapore has unveiled a new pet insurance policy in response to the growing number of pets and the corresponding rise in veterinary costs in the island-state. This plan also covers congenital and hereditary diseases, subject to the provision of medical documents.

Correspondent 101

Correspondent FinTech Posting 101

Nanonets

APRIL 4, 2023

Put simply, mailroom automation is the process of automating incoming mail (both physical and digital) and other correspondence by transforming it into structured business data that is then sent to the relevant individuals or fed into processes and systems within your organization. Agility Agile business is a data-driven business.

Automation 52

Automation Correspondent Process AI 52

Nanonets

MAY 21, 2024

Reconciling accounts receivable involves comparing the balances in the accounts receivable ledger with supporting documentation, such as invoices, receipts, and customer payments. Review Sales Transactions: Compare the sales transactions recorded in the accounts receivable ledger with the corresponding sales invoices or sales orders.

Reconciliation 52

Reconciliation Accounts Adjustments Correspondent 52

PYMNTS

SEPTEMBER 24, 2020

Correspondent Banking . Financial institutions (FIs) traditionally offer remittances through correspondent banking relationships , in which banks in different countries open deposit accounts to handle cross-border payments. Correspondent banking is not the only way that money transfers can be conducted.

Regulatory Compliance 89

Regulatory Compliance Compliance Correspondent Bank Correspondent 89

Nanonets

JUNE 27, 2024

Fuzzy matching (également appelée correspondance approximative de chaînes) est une technique qui permet d'identifier deux éléments de texte, chaînes ou entrées qui sont à peu près similaires mais ne sont pas exactement identiques. Qu’est-ce que fuzzy matching?

Correspondent 52

Correspondent AI Non-Bank Duplicate 52

Nanonets

JUNE 18, 2024

Each balance should match its corresponding entry in the general ledger for any source. With disconnected data sources and innumerable documentation, accounting teams can face the added task of figuring in interest rates, exchange rates, and timing differences to reconcile balances effectively.

Reconciliation 52

Reconciliation Accounts Automation Credit Cards 52

EBizCharge

MAY 31, 2024

Now, automated cash application software employs artificial intelligence and machine learning to automatically match payments received via various payment methods, like credit cards, wire transfers, and electronic payments, to their corresponding invoices. Why is cash application automation crucial for businesses?

Automation 52

Automation Remittance Data Correspondent Wire Transfer 52

EBizCharge

JUNE 19, 2024

This simple, yet essential document can decode transactions and play a role in streamlining accounts receivable (AR) operations. Remittance advice refers to a document a customer sends to a business to indicate that an invoice has been paid. What is remittance advice? What are remittance slips, and how are they created?

Payer 52

Payer Reconciliation Correspondent Disputes 52

Nanonets

JULY 10, 2024

Even in the business world, invoices use this structure: items purchased are the keys, with prices as their corresponding values. By leveraging deep learning techniques, we can teach machines to understand document structures and extract valuable information accurately and efficiently. It's a recipe for errors and frustration.

Database 96

Database Process Use Case Correspondent 96

Nanonets

OCTOBER 8, 2024

Optical Character Recognition (OCR) technology has become a vital component for businesses looking to automate document processing and streamline data extraction. We included a few challenging documents as well, such as a badly scanned receipt with noise or creases or a handwritten legal document.

API 52

API Multi-Currency Legal AI 52

Nanonets

JUNE 24, 2024

Gathering all the Statements and Receipts or supporting documents: First, we must collect all the credit card statements and the relevant receipts for the specified period. This results in a gap in the documentation and invoices are involved to fill in the gap by matching against the credit card statements. But how do we go about this?

Reconciliation 52

Reconciliation Credit Cards Correspondent Automation 52

The Fintech Times

MAY 16, 2024

NAO has revealed that in theory, this would be very effective as it would cut costs servicing telephone calls and correspondence. However, it is not clear how far and fast digital will reduce demand for telephone and correspondence services. It would also free up staff to serve people who need extra support.

Correspondent 58

Correspondent Audit Small Business Assessments 58

EBizCharge

NOVEMBER 11, 2024

Standardize procedures: Establish a standardized, documented reconciliation process with clear steps, timelines, and responsibilities. Use supporting documentation: Always keep documentation for every transaction, such as receipts, invoices, and bank statements. How long should reconciliation be kept?

Reconciliation 52

Reconciliation Best Practices Non-Bank Audit 52

Nanonets

MAY 6, 2024

Businesses maintain a multitude of other financial documents, including bank statements, invoices , bills, cash payment receipts, and more. These documents provide supplementary details and serve as external sources of validation for the transactions recorded in the general ledger.   What is the General Ledger?

Reconciliation 52

Reconciliation Payroll Automation Transactions 52

Nanonets

JUNE 21, 2023

The aim is to reconcile the data and ensure that transactions match supporting documents across different sources. Here are the general steps involved: Gather relevant documents Collect all the necessary financial documents that need to be reconciled. What are the steps in the Process of Reconciliation?

Reconciliation 52

Reconciliation Process Adjustments Automation 52

Nanonets

MAY 7, 2024

This process typically involves reviewing transactions, invoices, receipts, and other financial documents to verify that they match up with the company's records and budget. Compliance and Regulation : Expense reconciliation is crucial for compliance with financial regulations and standards.

Reconciliation 52

Reconciliation Best Practices Compliance Credit Cards 52

Nanonets

JUNE 23, 2023

It involves comparing and reconciling the balances of various accounts in the balance sheet with supporting documentation. It involves comparing the balances of various accounts listed in the balance sheet to external documentation, such as bank statements and general ledger entries.

Reconciliation 52

Reconciliation Audit Financial Analysis Adjustments 52

Nanonets

OCTOBER 18, 2023

Components of an RAG workflow - Knowledge Base (Input) : The knowledge base is like a library filled with useful information such as FAQs, manuals, and other relevant documents. Documents / Nodes: A Document is your container for data, whether it springs from a PDF, an API, or a database. pdf,jpg,png,docx, etc.)

API 98

API AI Database Facilitators 98

EBizCharge

JUNE 25, 2024

Invoices are documents a seller sends to the buyer detailing the products or services provided and the payment amount due. Your business should also collect any supporting documentation, such as purchase orders, receipts, and delivery notes, to provide a comprehensive basis for cross-referencing and verifying the details of each transaction.

Reconciliation 52

Reconciliation Automation Transactions Correspondent 52

Nanonets

APRIL 3, 2024

Vendor reconciliation , a crucial part of this process, involves scrutinizing purchase-related documents to ensure accuracy in all vendor transactions. " Reconciliation in accounting refers to the comparing of details of transactions and financial activities between various documents.

Reconciliation 52

Reconciliation Process Accounts Duplicate 52

Nanonets

APRIL 29, 2024

It is the process of comparing and matching credit card transactions with corresponding spends and financial records to ensure accuracy and transparency in financial reporting.  This may include invoices, receipts, purchase orders, or other documentation related to the transactions. What is Credit Card Reconciliation?

Reconciliation 52

Reconciliation Credit Cards Correspondent PCI DSS 52

Nanonets

JANUARY 31, 2024

Read to learn more: Month-End Account Reconciliation Reconciliation is the process of matching the company’s general ledger with payments and deposits recorded in documents like bank statements, credit card statements, or invoices. Now find the corresponding type in your bank statement and mark them as reconciled or “not found.

Reconciliation 52

Reconciliation Best Practices Adjustments Correspondent 52

Nanonets

JUNE 22, 2023

Invoice reconciliation is the process of comparing and matching invoices with relevant supporting documents to ensure the accuracy and integrity of financial transactions. By carefully reviewing and comparing invoices against supporting documents, businesses can identify discrepancies, overcharges, or unauthorized expenses.

Reconciliation 52

Reconciliation Audit Automation Correspondent 52

M2P Fintech

JANUARY 22, 2024

Data Masking via Vision Framework To protect sensitive data on identity documents such as PAN and Aadhaar, businesses are resorting to Data Masking. PNG JPEG TIFF Here, we validate the image data to determine if it corresponds to one of the supported formats using an enum class ‘ FormatType.’

Correspondent 52

Correspondent Origination Breach Security 52

Nanonets

SEPTEMBER 17, 2024

A section focusing on VLMs for document understanding and leading models for extracting information from documents. Document retrieval in financial/legal domains Image Search in e-commerce can be turbo charged with VLMs by allowing the search queries to be as nuanced as possible.

Best Practices 97

Best Practices Adjustments Assessments Research 97

Nanonets

JUNE 28, 2023

The Need of OCR and Document Data Extraction for Salesforce In the age of digital transformation, businesses are inundated with vast amounts of data. Customer interactions, business transactions, and administrative procedures generate massive volumes of documents that require careful management.

CRM 52

CRM Automation Process Fed 52

Nanonets

DECEMBER 11, 2023

Typically, a robust data automation solution can extract data from documents, classify, validate, and export it, or auto-populate fields in other software systems. Moreover, AI-OCR tools like Nanonets can extract data from structured and unstructured documents seamlessly. And that’s only half of the story.

AI 59

AI Payment APIs and Integration Automation Best Practices 59

Neopay

AUGUST 22, 2024

Both the EBA and the ECB thereby rely on statistical information on the volumes and values of payment transactions and corresponding fraud reported by payment service providers (PSPs) located in the EU/EEA. Documents EBA and ECB 2024 Report on Payment Fraud (717.27

Central Bank 52

Central Bank Volume Payments Authorization 52

Nanonets

MARCH 14, 2024

For this, all details of the purchase as mentioned in the invoice are matched with the corresponding purchase order to ensure that the product/services that were ordered were delivered correctly and at the price agreed upon. This verification process is called 2-way matching.

Payment APIs and Integration 52

Payment APIs and Integration Automation Correspondent Checks 52

The Fintech Times

MAY 21, 2024

The report reveals that over the past five years, scheme and processing fees have surged by more than 30 per cent in real terms, without corresponding improvements in service quality.

Visa 90

Visa Regulations Payments Consulting 90

Nanonets

JUNE 12, 2023

Document Automation Workflows in Power Automate Document automation workflows in Power Automate represent one of its most compelling features, enabling businesses to automate repetitive document management tasks, enhance efficiency, and reduce the possibility of human errors.

Automation 52

Automation API Returns Process 52

Fi911

AUGUST 28, 2024

Each reason code corresponds to particular circumstances surrounding the dispute, providing clarity in the chargeback process and guiding the necessary steps for both parties. While issuing banks do not have to clarify their decisions, acquiring banks and merchants gain valuable insights into the necessary documentation for representment.

Disputes 52

Disputes Non-Bank CHIPS Authorization 52

Nanonets

NOVEMBER 5, 2024

Vendor bills are a critical part of AP workflows - the final document in an AP process that specifies how much you need to pay a vendor for a purchase. A fully billed PO in NetSuite with the corresponding Receipt and Vendor Bill. The 3-way match can also be generalised to any 3 documents that may not strictly be the above examples.

Automation 52

Automation Rules Process Checks 52

Nanonets

APRIL 1, 2024

For instance, payments may erroneously appear as settled in records while the corresponding cash remains undebited, necessitating reconciliation adjustments. These comprehensive records serve as valuable documentation for audits and regulatory compliance. Checks outstanding can disrupt cash flow management.

Reconciliation 52

Reconciliation Checks Automation Process 52

Fintech News

DECEMBER 10, 2023

” For FIs, the consequences are equally daunting, as they face expenses associated with the correspondent banking network. This approach is not limited to domestic payments but is especially relevant to international transactions, which often involve a complex web of correspondent banks.

Addressing 116

Addressing Fraud Prevention Financial Inclusion Payments 116