FSS Technologies Singapore Pte Ltd., a globally leading provider of integrated payment products and a payments processor, today announced Askrindo, a market leader in Indonesia’s general insurance industry, has implemented its Smart Recon solution to modernize and maximize the efficiency of its reconciliation operations.
FSS Smart Recon can match millions of transactions between multiple systems within few minutes, seamlessly accommodating growth in transaction volumes. The solution has been benchmarked to process 1-billion transaction records in an hour. Designed to process complex and large volume of payments, claims and settlement data, FSS Smart Recon automates core workflows encompassing data extraction, enrichment and reconciliation, exception management and settlement.
Rachmad Hidayat, Senior Vice President Division Head of IT at Askrindo, commented: “It was important for us to select the right technology platform on our digitalization journey that could meet current needs whilst providing us the flexibility to add more use cases for supporting future expansion. We were impressed by FSS’s extensive experience, innovation, and depth in deploying reconciliation solutions for a wide customer base, strong local presence, and support in the Indonesian market. With FSS Smart Recon we are building an agile back-office that helps us optimize reconciliation cycles, reduce errors, and lower operational risk exposure.”
Speaking on the partnership Krishnan Srinivasan COO, FSS PayTech stated: “Askrindo is the latest addition in our growing base of reconciliation customers in the APAC region. Askrindo needed an experienced partner to address reconciliation challenges and we are excited to work with Askrindo to deliver a modern, web-based reconciliation framework, that would help unlock new operating efficiencies, reduce risk and ensure high levels of compliance.
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