ScalePoint Research Updated 13 October 2026
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Research / Clusters / Reconciliation

Reconciliation

Matching what should have arrived with what did, and working out why the two differ. Ten processes on the map come down to this same job, from a merchant's card income to an EMI's safeguarding account and a stablecoin firm's on- and off-ramps.

Vendor scanFirst pass done19 vendors, sources checked 14 Oct
Model testTest 2 being builtAbout the test →
Cluster reportIn preparationWhat's in it →

The processes

Card settlementMerchant, platform, acquirerMatch acquirer settlement files to bank receipts and the sales ledger, and explain each break.
Scheme settlementAcquirer, issuerCheck scheme settlement reports against internal clearing records, including the interchange and scheme fees charged.
APM settlementMerchant, platform, acquirerThe same job for wallets, bank transfers, buy now pay later and local methods, where references and timing differ from cards.
Cash applicationMerchant, acquirerMatch incoming payments and remittance advice to open invoices.
Merchant payoutsPlatform, acquirer, EMICheck that each payout equals transactions less fees, refunds, chargebacks and reserve movements.
Split payoutsPlatform, acquirerCheck that each payment split between sellers, commission and fees adds up, and every seller was paid the right amount.
SafeguardingEMIEach day, check that safeguarded balances cover what is owed to customers, and explain any shortfall.
Nostro accountsEMI, acquirerMatch bank accounts in several currencies against the ledger, including the FX conversions between them.
On- and off-rampsStablecoin, EMIMatch money coming in and going out against the stablecoins bought, sold or sent on-chain.
Stablecoin reservesStablecoinCheck that the reserves backing a stablecoin match the coins in circulation.

The work, step by step

  1. 01Collect the recordsSettlement files, bank lines, the ledger and the contract.
  2. 02MatchAlready done well by rules-based software.
  3. 03Find and value the breaksOne model call can do this. Test 2 measures how well.
  4. 04Investigate and explainMost of the time goes here. This is where an agent helps.
  5. 05Adjust or escalateA person approves the fix before money moves.

Vendor landscape

Headline finding

Most vendors cover collecting and matching the records and finding the breaks. Few go further. Investigating and explaining each break is where agents are now being launched, but only BlackLine has one in general release, and BlackLine sells mainly into the month-end close rather than payments operations. SmartStream and HighRadius say theirs do the same, without customer evidence found yet. None of the safeguarding reconciliation tools found use AI in the reconciliation itself.

Sells to
AI maturity
Product type

AI maturity. No AI: no AI assistant or agent in the product. Copilot: the AI suggests and a person does the work. Agent (vendor claim): the vendor says agents do the work, with no customer evidence found yet. Agent in production: the AI works a break from start to finish and paying customers use it. Being evaluated: the vendor has announced AI or agents, but its public material doesn't yet show how far they go or whether customers use them. A vendor moves out of Being evaluated once I've seen a demo, a named customer using it, or product documentation that shows what the AI does.

Size: Small, under 50 staff. Mid, 50 to 500. Large, over 500. From company statements and staff counts on public profiles, so treat it as a guide.

Status as of 14 October 2026. Each vendor links to its source, mostly the vendor's own announcement. No vendor pays to be included. Duco and other capital markets platforms are left out.

In preparation Reconciliation cluster report A 15 to 20 page report with the vendor grid as a spreadsheet. Paid, and available on request. Email me about the report
  • Step-by-step coverage. Every vendor against the five steps, so you can see where each product stops.
  • Evidence. What each claim rests on, named UK and EU customers, ownership, and which AI models the vendor uses.
  • Gaps by type of firm. The ten processes against six types of firm, showing where no vendor covers the hard steps.
  • Build or buy, by type of firm. Test 2's cost and accuracy for each model, what building it would take, and a verdict for each type of firm.

Where the return comes from

Staff timeWith rules-based software, cost follows the number of breaks. An agent takes on most of the investigation, so the same team can handle more providers and more volume.
Money recoveredBreaks nobody has time for tend to get written off, such as fees charged at the wrong rate, missing settlements and chargebacks debited without a case. An agent can work every break, including the small ones.
The costs on the other sideThe vendor licence or the cost of building, the model's cost per run, and the cost of its mistakes, which is why a person approves each fix.

The case is strongest for firms with many breaks a month across several providers. A firm with a handful of breaks a month gains little. How an AI agent works ↗