Author: Autorek

fintech payments

Omnio selects AutoRek for reconciliation solution

Scottish fintech companyAutoRek, a leading software provider to global financial services firms, is proud to announce Omnio as the latest addition to its expanding list of digital banking/payments clients.

Omnio is a high growth financial services infrastructure provider, combining the best of banking capabilities and customer engagement / loyalty together in a single platform. Headquartered in London with operations in the U.K. and Europe, it supports many of the world’s leading corporates and financial institutions in delivering innovative and effective banking, payment and loyalty solutions.

AutoRek will be providing the core reconciliation solution, including internal and external reconciliations between Omnio’s payment processors, bank accounts and ledger system. Replacing the operations team’s manual processes on Excel by providing end-to-end automation, AutoRek’s solution will facilitate  increased efficiency and control, as well as provide automated reporting and real-time Management Information to ensure the team’s business users and management are provided with quality MI through a variety of dashboards to fulfil their daily activities at the optimal level.

Laurence Sproston, Head of Reconciliations and Settlements at Omnio, commented, “We approached AutoRek to provide us with a solution to help automate our reconciliation processes. Our main goal in pursuing this partnership is to save time, costs and ensure operational resilience as we move forward to a new way of working. The AutoRek team adopts a collaborative approach for implementation and have provided us with an automated solution ensuring our regulatory, data integrity, workflow and management information needs are met.”

Gordon McHarg, CEO at AutoRek, added, “We are pleased to welcome Omnio to our increasingly growing client portfolio. The payments industry is evolving rapidly and we are proud that AutoRek’s capabilities meet the challenges facing the industry including volume of data. We are looking forward to establishing a good relationship with Omnio and building upon it over the years.”

Nick Botha, Banking and Payments Lead at AutoRek, who led the deal commented,“We are delighted to be working with the Omnio team. Following the turbulent year defined by COVID-19 and with the constant changes taking place in the digital banking and payments world, we are extremely proud that Omnio have selected the AutoRek solution to be the glue between their internal and external systems.”

About AutoRek

AutoRek is a leading software provider to companies in the global financial services sector. 

An industry leader at the forefront of financial data management, AutoRek’s customisable rules driven platform allows firms to automate and streamline the collection, validation and reconciliation of data. This facilitates the necessary transparency for good governance and fulfilling regulatory obligations. Efficiency and cost reduction are delivered by eliminating spreadsheets and manual processing, as well as mitigating operational and regulatory risk associated with managing high volumes of data.

Its clients span the asset management, banking and insurance sectors and include commercial banks, payment platforms, fintech start-ups and established life and pensions companies.

Headquartered in Glasgow, with offices in Edinburgh, London and New York, the firm has over 85 employees, possessing extensive experience in finance, regulation and technology.

Corporate social responsibility is at the heart of AutoRek’s ethos and it is involved in a number of initiatives to reduce waste, help local communities and create a positive work environment for its employees.

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