Donna Blum

speaker

135 appearances 1 recordings 1 series first heard Mar 2025 last heard Mar 2025

Donna Blum’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

No recordings in the last 12 months.Older appearances are listed below; set an alert to hear about the next one.

Appearances

newest first · ▶ plays the moment

Off the Rails from the U.S. Faster Payments Council - FPC · 13 March 2025 Tony Cook from First Bank and Donna Blum from BHMI on payments reconciliation · 13 Mar 2025 podcast

Sure.

So most companies that we work with receive their payments data from a wide variety of data sources, and they are receiving very high volumes of data from authorization systems,

external payment networks, and a variety of other sources.

So the first thing that needs to happen in order for the transactions to be properly reconciled is all the data needs to be aggregated within the system, which means that there needs to be a way to obtain all the data from those different data sources

And that data needs to come in in real time.

So the reconciliation system must be able to access that transaction data in a real time manner.

format.

The next thing that needs to happen is transaction matching and validation.

So as transaction data is coming into the system, it needs to be linked so that all of the data associated with a specific transaction is linked together.

You can imagine if there's transaction data coming in from an authorization system and also from a network, that data needs to be linked together.

And it needs to be in an automated system so that the transaction data is linked and then it is automatically compared based on some rules.

So it might be based on identifiers such as transaction ID or the amount or the timestamp.

Modern systems will also have company-specific equivalency checks and tolerance levels configured that will instantly identify discrepancies during that reconciliation process.

What's important is that discrepancies need to be identified quickly and they also need to be presented in a way that the research and also the corrections can happen within the system.

So a modern reconciliation system is going to provide that instant access to the current reconciliation status of every transaction and any specific reasons for any discrepancies.

and it will allow the user to quickly identify and resolve those discrepancies.

So that's kind of a high-level overview of the process.

It might sound like it's simple, but it's really not.

As you alluded to, it is a complex process.

Today, many organizations still rely on heavily manual processes, labor-intensive processes, and as a result, reconciliation can be very time-consuming and error-prone.

Showing 21–40 of 135 · page 2 of 7