Reconciliation of MoneyGram® payment transactions is a specialized process in BINETIX PTM that allows automatically compares the financial and non-financial parameters of transactions to and from MoneyGram® that are processed by the System with the official financial reports that MoneyGram® provides to its partners.

Why a reconciliation needs to be performed?

The short answer is because you have to monitor and control communication between your organization and MoneyGram®. Observing a significant volume of transactions is a task that is required when analyzing the Financial risk. Performing this task without automation can take a lot of time, and manual operations can cause mistakes and sensitive gaps.

BINETIX PTM provides functionality that allows you, as a user and financial expert, to directly load the standard financial reports provided by MoneyGram® into the System. As a result, PTM reads and analyzes the content of the report and compares it tabularly by reference number (and some other requisites) with the payment transactions registered in the System.

Due to the reconciliation, you can quickly and effectively check the correctness and consistency of cash flows processed by BINETIX PTM and those processed and reported by MoneyGram®.