Case Study: Harmoney achieves scalable, compliant reconciliation with ReconArt

Harmoney - Customer Case Study

Harmoney, New Zealand’s leading peer-to-peer lending platform, needed a better way to manage custodian-style trust account reconciliations as transaction volumes grew. Its existing custom tool for identifying reconciliation exceptions was becoming a bottleneck, and the company also wanted a scalable solution with strong compliance, auditability, and automation. ReconArt’s reconciliation software was selected after a proof of concept.

ReconArt implemented an automated reconciliation system that handled Harmoney’s complex matching rules and improved exceptions management through manual and automated categorization. With ReconArt, Harmoney gained better visibility into common cash movement issues, simplified rule changes, and trained internal users to administer the platform independently. The result was a successful live deployment, faster onboarding of additional high-volume trust accounts, and minimal ongoing support needed from ReconArt.

Harmoney

Kriti Nath

Finance Manager and Simon Ward, Harmoney’s CFO