remittance Reconciliation in the Payments Industry: When Money is the Commodity Reconciliation is, of course, an absolutely essential process in any business. If the accounts don’t balance then there is a serious problem somewhere that could cost a business its customers and could even be the death knell of the business itself.
SWIFT What Are You Doing That’s Over 40 Years Old? Back in 1973, the idea for a financial network of institutions which could send and receive information about transactions was born. SWIFT (or the Society for Worldwide Interbank Financial Telecommunication) [https://www.swift.com/] was a revolutionary solution to the immediate problems occurring to banks in the late 1960s: market
