Reducing Manual Effort on ATM and POS Reconciliation

June 11, 2013 – As financial institutions continue to search for ways to become more efficient, Lodestar clients are adopting cost effective solutions such as our ATM and POS Reconciliation application. Efficiencies are achieved in multiple ways:

  • Automating the file downloads daily from the banking system and switch vendors
  • Automating the switch data import into the Lodestar Data Store
  • Automating match and kill reports that easily identify outages and differences on both the banking and switch sides

Success Story!

East Kootenay Community Credit Union has recently implemented our solution with the following results:

  • For experienced staff, there is a manual effort savings of 4 hours per week. For less experienced staff, 6 hours per week
  • Training costs have been drastically reduced in this area

According to Corinne Neil, Senior Manager, Information Systems, the results have been highly positive:

“Our staff love the change in their daily ‘switch balancing routine’. What once was a multi-stepped process has been reduced to receiving two emails every morning, investigating unmatched transactions (if any), and they’re done!!!!”

Lodestar continues to provide cost effective solutions that drive measurable return on investment in the short and long term.