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BANKREC

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BANKREC

Automated bank reconciliation that will save time & money

Developed and powered by Qvalent, Westpac's wholly owned and trusted technology
partner

Enquire now

CONSOLIDATED STATEMENT TOOL

Reducing manual processes by integrating with your ERP system to perform bank
reconciliation.

EFFICIENT AND ACCURATE RECONCILIATION

Delivering enhanced, enriched and debulked transaction details.

GLOBAL STANDARDS

Enabling streamlined consolidation and analysis of global accounts.

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BANKREC IS THE NEXT GENERATION OF BANK STATEMENTS

Unlike traditional bank statements which require multiple teams and staff to
reconcile, BankRec can reduce manual processes by supporting automated
connectivity, enriched information and transaction-level detail for easy and
accurate reconciliation.

Traditional bank statements

BankRec

How you receive bank statement information.

TRADITIONAL BANK STATEMENTS

Bank statements are manually downloaded and submitted into systems.

BANKREC

Electronic delivery via iLink*.
How your information is displayed on bank statements.

TRADITIONAL BANK STATEMENTS

Standard format in PDF or CSV. Staff may need to manually recreate information
for internal systems.

BANKREC

Additional formats available such as BAI2, MT940, CAMT.053 and Extended CSV
delivered automatically into your system.
What you see on bank statements.

TRADITIONAL BANK STATEMENTS

Limited information with bulk settlement. Staff will likely need to
cross-reference transaction information to reconcile payments.

BANKREC

Enriched and debulked information for easy and accurate reconciliation with
transaction level detail.

*iLink is Qvalent's comprehensive connectivity solution which supports web
interface, SFTP and API.

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AN ALL-IN-ONE SOLUTION FOR BANK STATEMENT RECONCILIATION. OUR SOLUTION IS
DESIGNED TO MAXIMISE THE ABILITY TO RECONCILE PAYMENTS VIA MULTIPLE CHANNELS.

BANK STATEMENT FORMATS

Find out more Move From

STATEMENT ENRICHMENT

Find out more Move From

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READY TO GET STARTED OR WANT TO FIND OUT MORE?


CONTACT YOUR RELATIONSHIP SPECIALIST OR OUR CORPORATE EXPERTS

RELATIONSHIP SPECIALIST

Please contact your relationship specialist to start.

CORPORATE EXPERTS

A dedicated team who focus on deeply understanding our customers and help to
unlock opportunities.

BANKREC TECHNICAL SUPPORT

Support is available to existing customers.

Find help

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WESTPAC PRIVACY STATEMENT

Privacy Statement (for individuals whose personal information may be collected -
in this clause referred to as "you"). All personal information we collect about
you is collected, used and disclosed by us in accordance with our Privacy
Statement which is available at Privacy Statement or by calling us through your
relationship manager or Westpac representative. Our Privacy Statement also
provides information about how you can access and correct your personal
information and make a complaint. You do not have to provide us with any
personal information but, if you don't, we may not be able to process an
application or a request for a product or service.

Information on this website has been prepared without taking into account your
objectives, financial situation or needs. Before acting on the advice, consider
its appropriateness. You should also consider the terms and conditions
applicable to the product. The terms and conditions are relevant when deciding
whether to acquire or hold a product. Contact your Westpac representative should
you need to obtain a copy of the terms and conditions applicable to the product.
Unless otherwise specified, the products and services described on this website
are available only in Australia from © Westpac Banking Corporation ABN 33 007
457 141 AFSL and Australian credit license 233714

 * Privacy Statement

 * Website Terms and Conditions