Escrow Account Reconciliation for a leading UAE bank

banking-sector-accounting

Challenge
o The client has one of the largest real estate portfolios in UAE
o The escrow team of 4 members, spend a day each week reconciling the accounts manually, requesting updates from account management teams and making changes wherever necessary
o The client was keen on having the reconciliation automated and performed at the end of every business day

Solution
o Bot was developed to identify the key reconciliation parameters and documents
o Bot mimicked the exact human actions performed during the reconciliation process 
o At the end of the process, non-reconciled part of output generated was sent to the account management team and the reconciled part was uploaded in the systems for further action

Benefits
o At the end of the process, non-reconciled part of output generated was sent to the account management team and the reconciled part was uploaded in the systems for further action

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