Inter-Branch Reconciliation:
Inter-Branch Reconciliation is an important back-office function for Banks and
its significance cannot be more emphasized in today's expanding world of
banking. As commercial activities and money involved grow in magnitude,
co-ordination between activities of all branches becomes a daunting task. With
this in perspective, it becomes important for banks to protect their assets. In
case of fraudulent or errors in transactions due to negligence, a good Bank
Reconciliation system helps detect them. Once identified, the errors can be
rectified or at the very least, short-circuit the progression of losses.
Therefore, it
becomes imperative to have an efficient and robust IBR system, which can handle
high volume of data with accuracy and also with an inbuilt flexibility to
handle exceptions.
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