Omnio picks AutoRek platform to automate reconciliation

Fintech infrastructure provider Omnio has selected Autorek to underpin its reconciliation operations.

Autorek is automating Omnio’s previously manual processes

Autorek is covering internal and external reconciliations between Omnio’s payment processors, bank accounts and its ledger system.

Omnio claims to provide the “best of banking capabilities and customer engagement in a single platform”. Headquartered in London with operations in Europe, it offers banking, payment and loyalty solutions.

The firm’s previous manual processes relied on Microsoft Excel, but will now be automated by Autorek.

“We approached Autorek to provide us with a solution to help automate our reconciliation processes,” says Laurence Sproston, head of reconciliations and settlements at Omnio.

“Our main goal in pursuing this partnership is to save time, costs and ensure operational resilience as we move forward to a new way of working. AutoRek has provided us with an automated solution ensuring our regulatory, data integrity, workflow and management information needs are met.”

AutoRek, headquartered in Scotland, won a pair of deals for its reconciliation systems last year.

The first was with the Bank of England, a contract Autorek says it won after a “competitive” tender. A month later Autorek also picked up Nationwide as a customer.

Related: JP Morgan, DBS Bank and Temasek to form new payments platform

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