New Counterparty auto-confirmation rule

Counterparties with a yellow status turn green after 3 user confirmations.

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With this update, when the user confirms the same Counterparty/Originator 3 times for a certain description, say Pay Client A, that Counterparty will be confirmed, changing from yellow (suggested by nBanks) to green.

If, in the future, the user identifies another bank movement with the same description Pay Client A, but with another Counterparty, this will remove the identification rules for that same description. When this happens, the algorithm will learn the identification rules from scratch and the user will have to manually identify the movements 3 times again until it is automatically identified again.

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Benefits:

- Intelligent automatic validation, after 3 manual confirmations, saving the user time;

- Reduction of repetitive work, optimizing the reconciliation process;

- Adaptive system, as the process restarts when there are relevant changes, ensuring accuracy and reliability;

- Better data organization, ensuring that counterparties are always correctly validated and updated and contributing to more consistent financial reports;

- Greater fluidity in the categorization process, which makes counterparty management more efficient and less susceptible to manual errors.

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Available in all geographies.

‍You can try this feature here.