ReconArt takes its transaction matching, account reconciliation and financial close management solutions to the next level of innovation with AI powered functionality, which is now available to current and future customers alike.
ReconArt, a leading provider of financial reconciliation software, is excited to announce the introduction of ReconArt AI Assistant, a new feature designed to revolutionize the way users create and optimize rules within the platform.
ReconArt AI Assistant, powered by OpenAI, enables the generation of complex expressions using simple prompts in natural language. The AI Assistant is first integrated in the Import/Export modules of the ReconArt reconciliation solution to help users configure import and export templates with ease.
Import and export templates play a key role in rule-based automation by defining how reconciliation data from multiple internal and external sources is fetched and transformed within ReconArt, and then transferred to other systems within the client enterprise. ReconArt AI Assistant translates human instructions into machine-readable expressions, ready to be incorporated in the rule body. Currently, ReconArt AI Assistant communicates in English, with plans to expand the languages pack in the future.
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ReconArt AI Assistant establishes an interactive environment where users can brainstorm the rule creation and optimizations. The AI-driven validation of the syntax prevents errors and enhances clarity. This functionality not only safeguards the accuracy of expressions but also ensures users can efficiently troubleshoot and refine their rules, paving the way to higher success rates.
“Our new AI Assistant is a leap forward in user experience,” said Ivan Popov, CTO of ReconArt. “As a financial technology company, we are always fascinated by innovations with potential to augment ReconArt. By harnessing the power of generative AI, we are making it easier for our customers to articulate their reconciliation logic and build rules that support auditability, user self-sufficiency, training and knowledge retention.
Following its long-standing policy of continuous product reinvestment and democratization of innovations, ReconArt is committed to making this powerful tool accessible and affordable to all its customers, current and future alike. By reinforcing user precision in creating rules, ReconArt AI Assistant significantly enhances the overall functionality and user experience of the platform.
The ReconArt’s AI implementation roadmap has kicked off with the release of ReconArt AI Assistant as part of version 3.2 of the software. Integrating artificial intelligence and machine learning within core functionalities such as matching, exception categorization, process analysis and documentation are future milestones of the product development strategy.
In line with the ambitious innovation pathway ahead, ReconArt remains champion of proven usability and meaningful client benefits. “We approach the evaluation and investment in new technologies with common sense, responsibility, and integrity,” added Ivan Popov. “Our primary objective is to enhance our reconciliation solutions continuously, with a strong focus on efficiency, reliability, data security and data privacy. ReconArt AI Assistant is a step forward in this longer journey.”
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