How they describe themselves: AutoRek is a global automated reconciliation software, revolutionizing finance operations and controls – delivering cost reduction and data confidence since 1994.
AutoRek has developed alongside some of the largest financial institutions across the asset management, payments, banking, and insurance sectors ensuring firms have a scalable solution to meet their needs.
AutoRek is designed to overcome high-volume reconciliation challenges, enhance auditability, and reduce operating costs for leading high street banks, challenger banks, and building societies.
How they describe their product/innovation: AutoRek tackles the biggest pain points in the reconciliation process through its intuitive, configurable dashboards. It provides key MI that monitor the performance of reconciliations. Including; breaking down the outstanding transactions into smaller digestible chunks of information, categorizing outstanding transactions, ageing breaks, highlighting any escalation points, and monitoring how much has been matched off on that given day. The solution reduces the reliance on spreadsheets and manual processes, increasing control and efficiency.
Product distribution strategy: Direct to Business (B2B)