The heart of RECONCAIL is a daily 3-way automated transaction matching and account reconciliation between the servicing system, cash movement and bank accounts.
3 Rapidly Deployed,
Easy-to-Integrate Modules
- Exponentially improve efficiencies and reduce employee time spent identifying mismatches, researching outstanding reconciliation items, and creating and approving reconciliation summaries.
- Reduce employee time spent on calculating fees by 90%
- 70-80% of line items are auto matched, reducing reconciliation time by at least 75% – over time, the Livegage AI-Engine drives an even faster monthly close.
Bank Reconciliation
Leverages AI to automate repetitive reconciliation tasks.
Servicing Fee
Automates contract management and fee calculations
Remittance Reporting
Automates report generation for non-agency and agency investors
Typical Livegage Client Experience Employing RECONCAIL
| Auto Reconciliation % | ||
|---|---|---|
| Account Type | 30 Days Post-Rollout | 90 Days Post-Rollout |
| P&I Custodial Account | 70.39% | 90.78% |
| T&I Custodial Account | 87.28% | 94.12% |
| Payment Clearing | 77.18% | 91.01% |
