Payment Reconciliation Agent

Deloitte’s AI-enhanced Bank Reconciliation Workflow can transform the reconciliation process, helping ensure efficiency, accuracy, and compliance across the entire lifecycle. This solution leverages intelligent agents to automate and optimize each step, from bank statement retrieval to continuous learning.

Key Steps and Enhancements: Bank Statement Retrieval: AI can auto-fetch and normalize bank data from multiple formats and sources. Payment Identification: AI uses pattern recognition to classify and cluster payment types. Reference Matching: AI performs fuzzy matching and learns from historical match behavior. Amount Matching: AI tolerates minor variances and flags exceptions with contextual explanations. Date Matching: AI adjusts for weekends/holidays and identifies timing mismatches. Multi-line Allocation: AI suggests allocations based on historical patterns and invoice metadata. Exception Handling: AI categorizes exceptions and recommends resolution paths or responsible parties. Adjustment Posting: AI suggests adjustment entries and auto-generates journal templates. Reconciliation Confirmation: AI updates reconciliation status and logs audit trail. Reporting & Audit Trail: AI auto-generates reports and indexes them for audit readiness. Continuous Learning: AI retrains models to improve match rates and reduce manual intervention.

Benefits: Operational Efficiency: Reduces manual effort and accelerates processing times. Accuracy: Enhances data extraction and validation accuracy. Compliance: Determines adherence to policies and regulations. Financial Operations: Improves reconciliation timeliness and accuracy.

By embedding AI into routine tasks, Deloitte’s solution not only boosts productivity but also frees up human talent for strategic innovation. It’s a future-ready platform that brings together AI, automation, and human oversight into a cohesive solution.

This professional service utilizes Amazon Bedrock, Bedrock Agents, Strands Agents, Lambda and OpenSearch.