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Mambu and ReconArt launch API integration to boost reconciliation solutions

By Delisha Fernandes

October 03, 2023

  • accounting solutions
  • API-driven banking
  • Core Banking
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Mambu, ReconArt, data reconciliation, accounting solutions, API-driven banking, SME lending, core banking, FinTech news, FinTech USReconArt, a vendor of automated data reconciliation and period-end accounting solutions, has integrated its offering with Mambu. Mambu is a cloud-native, API-driven banking and financial services platform, and the integration with ReconArt will increase the speed and efficiency of critical account reconciliation processes.

As part of a pilot project delivered for Platcorp Holdings Limited, a joint customer, the automated orchestration of data transfers and scheduled jobs within ReconArt has been introduced.

Transaction data from internal accounts now flows hands-free into ReconArt, with direct GL integration into the Mambu environment established via Mambu’s API for automated item transfer. The transition from file-based integration to system-to-system communication allows for the highest level of automation of daily bank reconciliation processes.

Ivan Popov, Chief Technology Officer at ReconArt, said, “As ReconArt’s CTO, I see a compelling intersection between agile SaaS banking platforms like Mambu and our own enterprise-level reconciliation solutions. This collaboration opens doors for an even larger community to expedite and simplify their critical reconciliation functions.The seamless interplay between ReconArt and Mambu equips our shared customer base with a streamlined, risk-mitigating experience, bypassing the challenges and vulnerabilities of manual reconciliation.”

ReconArt carried out the integration project in close collaboration with our long-standing client Platcorp, a distinguished lending and microfinancing institution in East Africa. Platcorp adopted ReconArt nearly a decade ago to underpin its expanding SME lending operations in several East African nations. Mambu’s version 2 API has been leveraged to export custom columns from the Mambu environment into the ReconArt module for transaction matching.

RDF serves as an integration layer that coordinates transfers from multiple banking data providers, starting with the main internal source the Mambu general ledger. The automated management of numerous internal and external data streams and system connections creates immense value for accounting teams in their daily reconciliation responsibilities.

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