Payment reconciliation can be a complicated task. It’s comparable to when we used to play with our childhood book “Where's Wally?” (or Waldo, as he’s known in some countries) in one of his iconic and crowded illustrations.

Have you ever tried to find Wally in an image crowded with details and characters? If you have, you know it requires patience, attention to detail, and a clear strategy.

Now, imagine that Wally is one of your clients and he has just made a payment. Reconciling Wally’s payment quickly is important for updating your systems promptly so that Wally has peace of mind that his payment was received. It is also crucial in order to maximize both the amount and frequency of distributions from your Master Trust so as to recycle the money to grow your business efficiently and effectively.

Your mission, in this case, is to find and correctly apply that payment as soon as possible. However, what makes it a difficult task is that you have to do it amidst a large number of transactions and files, and sometimes it’s even difficult to identify Wally as Wally.

At Vaas, we understand the challenges that come with payment reconciliation. That’s why we’ve developed a solution designed to scale this task and make it more efficient, but also maintaining business flexibility. Our Payment Reconciliator is a product designed to cooperate with our Distributions Engine, automating the payment reconciliation process, ensuring that every transaction is accurately matched and recorded.

Let's explore its features:

Payment Reconciliation Engine

The purpose of this engine is to automate the process of obtaining payments, and reconciling them as frequently as you want to update your clients’ account statements.

• Obtain payments automatically: Forget about the task of downloading payment reports from several payment gateway platforms. With our data extractor, we automatically obtain payments reports for you, consolidating the information from multiple sources.


• Payment Identification: We use the retrieved data to identify who each payment belongs to. In other words: We find Wally for you! This is achieved through [business] keys that uniquely and accurately identify which transaction belongs to which client.


• Use your Reconciliation: At this point, our Payment Reconciliator is prepared to help with your payment application process. We can directly apply payments within your core systems, or you can obtain the information from our platform to apply them by yourself.


• Manual Reconciliation: For payments that cannot be reconciled automatically, we are designing a Manual Payment Reconciliator tool, to make the operational task of manual reconciliation more efficient.

Bank Reconciliation Engine

As we mentioned before, one of the multiple purposes of this combined products is to help you recycle payments from the master trust as soon as possible. Our Bank Reconciliation Engine contributes to making the process more accurate, and bringing more transparency for lenders, ensuring that all the money you’re distributing from master trust accounts is correctly identified.

• Starting with Bank Statements: We use the results from the payment reconciliation engine as input, taking the already reconciled payment information. Additionally, with our data extractor, we obtain bank statements from your master trust accounts to use them as inputs as well.


• Matching with Bank Statements: We compare the reconciled payment data with the obtained bank statements, verifying that each recorded payment corresponds to a specific bank inflow.


• Reconciliation: Once payments are reconciled, they are ready to be distributed to the project trust. We first identify any discrepancies between the reconciled payments and the bank statements. These discrepancies can include delays in payment gateways payouts (common in these processes) or errors in gateway processing. This way, you’ll always be informed about your pending payment disbursements and shall be able to act accordingly.

Distribution Engine:

Once both reconciliations are complete, we automate Master Trust distributions to each of the existing project trusts, enabling daily cash recycling to accelerate your business’s growth.

In addition, our Distribution Engine has an interface within the Vaas platform where you can:

• Check the Results of Your Distributions: On a daily basis, or in any period you define for distributions, we publish the results of the process on our platform. This way, you’re always informed about the distributed amounts.


• Generate Documents: Generate all the necessary documents and instructions to execute transfers from your Master Trust, ensuring a smooth and efficient process.


• Send documents to Trustee: Once all documents are generated, we can send them to the trustee for you! We even have an online signature process to suit digital approval requirements.

¡Let Us find Wally’s Payments for you!

Playing “Where’s Wally?” in our childhood was a moment of fun and play, but in our adult lives, finding these payments can be a nightmare. Now, with Vaas, reconciling payments doesn’t have to be a daunting task — let us make it simple and more efficient for you!

At Vaas, we cover the entire process from end to end: you receive payments, and we ensure they are distributed efficiently, allowing you to focus on growing your business while we handle the rest!

By: Matías Ramírez

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