eToro, a leading global social investment network, faced operational challenges following a period of rapid growth. Their reconciliation processes were largely manual and performed in Excel, leading to inefficiencies and a heightened risk of error. As transaction volumes surged, they required an automated solution to reconcile payments from various Payment Service Providers with their banks and internal ledgering systems.
AutoRek implemented an end-to-end automated solution that streamlined eToro’s processes and enhanced regulatory compliance. The platform allows eToro to efficiently match large volumes of data from multiple sources while providing a full audit trail for FCA oversight.
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Full Automation: Replaced manual Excel workflows with a fully automated solution to reduce error risks.
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Scalability: Successfully manages high transactional volumes across diverse payment service providers.
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FX Solutions: Built a custom FX rate solution to automate currency calculations for historical data.
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Audit Readiness: Every action is logged to simplify the audit process and reduce regulatory costs.
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Data Integrity: Enhanced validation capabilities allow for complex custom data mappings.