80% Faster Bank Reconciliation Through RPA-Driven Automation
How Iqra Technology deployed UiPath RPA to automate the bank reconciliation process for a UAE-based financial services firm — reducing reconciliation time by 80%, eliminating manual matching errors, and delivering daily reconciliation reports automatically.
Client Overview
A UAE-based SME delivering IT services, digital transformation, and banking solutions to medium and large clients across the region. The firm's finance team manages bank reconciliation for multiple accounts across different banks and currencies — a high-frequency, data-intensive process requiring daily reconciliation of bank statement transactions against internal ledger records.
Bank reconciliation was performed manually by the finance team: downloading bank statements, opening accounting system records, matching transactions line by line in spreadsheets, investigating discrepancies, and producing reconciliation reports — a process that consumed significant finance staff time daily and was prone to matching errors and missed discrepancies.
Iqra Technology was engaged to automate the full bank reconciliation workflow using UiPath RPA — from automated bank statement download and parsing, through intelligent transaction matching against ERP records, to exception flagging and automated reconciliation report generation — delivering daily reconciliation results without manual effort.
Industry Details
Project Overview
The project deployed a UiPath RPA bot that automatically downloads bank statements from all configured bank portals, parses transaction data, loads corresponding ERP ledger entries, applies a configurable matching engine to reconcile transactions by reference number, amount, and date, and generates a structured reconciliation report — flagging unmatched items for finance review.
The bot runs on a scheduled daily basis via UiPath Orchestrator, ensuring reconciliation is completed every morning before the finance team begins their day — replacing a process that previously took several hours with a fully automated overnight run delivering results at the start of each business day.
Client Requirements
- Automate daily download of bank statements from all configured bank portals.
- Parse bank statement transaction data across multiple formats and currencies.
- Load corresponding ledger entries from the ERP/accounting system for comparison.
- Apply configurable matching logic to reconcile transactions by reference, amount, and date.
- Flag unmatched and partially matched transactions for finance team review.
- Generate structured daily reconciliation reports by account, bank, and currency.
- Schedule daily automated runs via UiPath Orchestrator with email delivery of reports.
- Maintain a complete audit trail of all matched, unmatched, and manually resolved items.
Technologies Used
Challenges & Solutions
Measurable Results
Implementation Highlights
- Automated daily bank statement download from all configured portals via scheduled UiPath bot.
- Intelligent transaction matching engine handling exact and fuzzy reference matching across all accounts.
- ERP ledger integration for real-time comparison of bank transactions against internal records.
- Automated exception flagging with structured report of all unmatched and partially matched items.
- Scheduled daily reconciliation runs via UiPath Orchestrator with automatic email report delivery.
- Complete audit trail of all matched, exception, and manually resolved reconciliation items.
What Our Clients Say
Verified reviews from Clutch.co — rated 4.7/5 across 8 client engagements.
"What stood out most about Iqra Technology was their genuine commitment to delivering quality work and their proactive approach throughout the project. It felt like working with a partner rather than just a vendor."
"Working with Iqra Technology was an excellent experience. They understood our requirements clearly, built the solution, and completed the implementation smoothly. The end result has streamlined our operations significantly."
"Iqra Technology played a key role in enhancing our internal digital workplace. The portal is now easy to navigate, visually clean, and aligned with our business needs."
"They performed as promised, communicated regularly, and completed the project on time. All requested data was properly and securely migrated."
"They're flexible and professional. If the company has a tight budget, they're the best company to work with. The team provides good value for money."
"The developer integrated seamlessly into our project, delivering high-quality dashboards that improved decision-making for our clients."
FAQs
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