Analysis And Implementation Of The Customer Transaction Reconciliation System Based On Tulip

Bank Reconciliation and Clearing for Enterprises is an important part of bank accounting and record keeping. Bank reconciliation is the process of comparing and matching bank records against customer accounts. It is a regular means of internal control for commercial bank operations. It is the key to prevent operation errors and customer frauds. However, in recent years, many major criminal cases have been reported in banking industry. This shows some fatal flaws in the reconciliation and management of our financial and banking industry. Criminals used some weak links in existing banking procedures such as untimely bank reconciliation, low return rate of bank reconciliation slips, un-separation between reconciliation staff and customer representatives, to conduct fraud with insiders, and have been causing huge financial loss in banks and enterprises. Therefore, we must develop comprehensive and targeted solutions to these weaknesses.Customer transaction reconciliation system basing on Tulip, according to Agricultural Bank of China (ABC)'s business characteristics and system requirements can perform account reconciliation electronically. This system consists of six parts: reconciliation data processing, face to face customer management, reconciliation information management, reconciliation staff management, risk control of un-reconciliated accounts, and check-matching system. Based on the reconciliation cycle, the system achieves dynamic management of customer information and reconciliation information. The system automates the filtering of reconciliation data, results feedback of reconciliation, reconciliation status monitoring, reconciliation slips checking, and early warning for un-reconciliated information. The bank departments and different levels of management can access the system based on their permissions granted by the system. Using this system, the action of any reconciliation staff and their operations within the management scope can be fully monitored and managed. The system guarantees the completeness and accuracy of reconciliation data, and automates the retrieval of custom data based on preset conditions and customer classification. As a result, customer can "withdraw money whenever it is safe to do so" witho'ut human intervention. During the reconciliation cycle, the reconciliation records of customers are continuously recorded, managed and monitored. Operations like reminding and pending are implemented to control the risk for un-reconciliated clients. Therefore, this system solves many problems in the traditional reconciliation process:reconciliation staff didn't have clear role or responsibility; reconciliation staff didn't pay enough attention to whether results were match or how unmatched results were investigated; tedious process in statistics; low efficiency of reconciliation; management cannot monitor reconciliation situation in time; etc.From the point of view of banking system information technology, this system achieves the following objectives:1. performed bank reconciliation electrically; 2. achieved the standardization and integration of reconciliation; 3. achieved a centralized management of reconciliation data; 4. used effective mechanisms for protection of data accuracy; 5. performed better reconciliation management, lowered operation cost, achieved close monitoring and tracking of bank reconciliation procedure and its standardized management. The research, development and application of this system within ABC are an important strategy for ABC to strengthen internal management and prevent financial risk in the new century. The improvement to management has shown in practice during the application of this system. The research, development, and application of this system are a qualitative leap compared to traditional bank reconciliation procedure. The traditional bank reconciliation procedure was done manually, had long delays on the data feedback, had many human disturbance factors, and had high rate of errors. All these have been fixed in this system. This system can manage and monitor bank reconciliation staff and procedure in real time. It improves the maneuverability of bank reconciliation, enhances the accuracy of data collection, and achieves significantly higher rate of reconciliation. This system is another successful strategic move of ABC to enhance internal monitoring, tracking, and management, and achieve bank reconciliation using modern methods. It brings bank reconciliation of ABC to a new level. With more extensive application of this system, it will further play its role. It will improve the awareness of reconciliation for bank customers, and make customers consciously protect their financial information. It will improve the credibility of ABC, improve ABC's social image, enhance the core competitiveness of ABC, and provide a solid foundation in management for the future development of ABC.