Funding Societies: 600+ hours a year saved on reconciliation
How Funding Societies automated the recognition and reconciliation of bank transactions with Acme — cutting manual work by more than 65% and going live in under 3 months.
As the largest digital financing platform in Southeast Asia, Funding Societies needs real-time visibility over money movement and accurate recognition and reconciliation of high transaction volumes. The team was reconciling transactions manually every day — more than 80 hours of work a month.
Acme's automated recognition and reconciliation solution accurately matches bank transactions with data on Funding Societies' internal platforms — critical as the company scales and transaction volumes grow every month. Acme handled all the backend integration work and coordination with the bank, so Funding Societies' engineering and product teams could stay focused on building the core product. The partnership has since expanded: fund collections via eGIRO and payouts are now also live through Acme.
“We were doing manual reconciliation every day, and we know that this is something we need to automate. Acme checks all the boxes that we were looking for in a provider, given their experience and expertise in the field.”
“The previously manual process, which takes about an average of 80 hours or more a month, has now been reduced by more than two-thirds, which means Acme has saved us more than 50 hours a month.”
“Instead of having to hire more headcount, working with Acme helped us to save more than 600 hours a year on recognition and reconciliation.”