Sold by: Deloitte Consulting LLP
Deloitte’s Bank Reconciliation Agent is an AI-powered solution that automates and enhances the end-to-end bank reconciliation process. The agent streamlines bank statement imports, GL transaction extraction, automated matching, and exception handling, while providing real-time fraud detection, FX adjustments, and continuous balance monitoring. By leveraging advanced automation and machine learning, organizations can accelerate close cycles, improve accuracy, and strengthen financial controls with minimal manual intervention.
Overview
The Bank Reconciliation Agent transforms traditional reconciliation by automating key steps and increasing accuracy throughout the process. Machine learning algorithms improve matching accuracy for complex scenarios, while exceptions are categorized and likely matches or explanations are suggested for rapid resolution.
Outstanding checks and deposits in transit are monitored, with the agent flagging stale-dated items and predicting clearing times. Bank fees and interest are auto-posted to the GL, and foreign currency accounts are handled with automated FX adjustments and full documentation. The agent uses anomaly detection to flag suspicious transactions, enhancing fraud prevention.
Reconciliation approvals are managed through automated workflows, and adjustment journal entries are generated with audit trails. Continuous balance monitoring helps ensure that discrepancies are identified and addressed in real time, reducing risk and supporting timely financial close. This automation empowers finance teams to improve efficiency, accuracy, and compliance in cash management and reporting.
This professional service utilizes Amazon Bedrock, Bedrock Agents, Strands Agents, Lambda and OpenSearch.
Highlights
- Automates bank statement imports, GL extraction, and transaction matching.
- Enhances exception handling, fraud detection, and FX adjustments.
- Delivers automated approvals, adjustment entries, and real-time balance monitoring.
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Deployed on AWS
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