Transaction Matching
Transaction matching is the automated process of comparing records from different data sources to identify corresponding entries. In financial operations, it pairs transactions from payment processors, bank statements, and internal systems to verify accuracy and completeness.
Key Details
- Matching algorithms compare multiple fields including amounts, dates, references, and counterparties to identify pairs
- One-to-one, one-to-many, and many-to-many matching patterns handle splits, aggregations, and partial payments
- AI-powered matching learns from historical patterns to improve accuracy and handle fuzzy matches
- Unmatched items route to exception queues for manual review and resolution