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End Of Day (EOD) Automation Tool

Banks today are heading towards higher levels of automation to manage the back end operations; thereby minimizing human errors. “End of Day” is a critical operation that banks need to run at the end of each business day. Today most modern core banking systems have this process partially automated; yet, this requires manual intervention and constant monitoring to handle exceptions that are created. The exceptions are usually a result of  – Unauthorised Transactions, User login related issues, GL Balance Mismatch, Non-Closure of Till, Branch EOD issues. These exceptions create the need for manual interventions where in the bank staff are required to follow up with the branches, authorise transactions, share user credentials with EOD Operators, manually clear users from the system etc.

The Finonyx EOD Automation Tool is designed address the specific issues that arise due to the various EOD exceptions. The tool sends out custom notifications to Branch Managers and Individual users to clear outstanding processes and provide necessary authorisations. A customized screen is provided at each branch to identify pending processes and potential mismatches, and initiate appropriate action. The entire EOD operation can be prescheduled and the stakeholders would receive notification on completion.

With the Finonyx End of Day Automation Tool

  • Adopt a systematic approach for EOD Operations
  • Reduce need for manual intervention
  • Minimize the need for resources beyond regular working hours
  • Achieve absolute time tracking
  • Avoid fraud and resultant regulatory issues

For More Details and Consultation

About Us

Finonyx Software Solutions is a trusted Oracle Platinum Partner focused on providing comprehensive consulting, custom development, testing, maintenance & support, implementation and upgrade services for the Oracle Financial Services suite of products for Banks and Financial Institutions across the globe. Finonyx offers a comprehensive suite of homegrown banking products that address specific needs of banks.