A friction-less integration service that could link banks with corporate account holders to automate the task of bank reconciliation using blockchain technology

Large companies often have multiple offices. Each of these offices has multiple associated bank accounts. Despite digitization of banks, most banks have different statement formats that are either made available as a soft copy over email, or (in some rare cases) via an API. This leads to a major manual tasks and thereby frictional costs in reconciling these bank accounts with the company’s books of accounts. Using Blockchain Technology, we have created a friction-less and transparent integration service that links banks with their corporate account holders in order to automate the task of bank reconciliation.