Project Overview
An upgrade to BIDV's batch payment processing system, automating the document reconciliation workflow that previously required manual cross-checking of hundreds of thousands of paysheets annually. The upgrade introduced automated Excel-to-record matching, virtual account number conversion, and two-factor authentication for high-value batch approvals : in compliance with State Bank of Vietnam regulations.
Challenges & Pain Points
Manual Document Reconciliation
Tellers manually cross-checked paper paysheets against Excel files uploaded by corporate customers. With hundreds of thousands of paysheets processed annually containing millions of credit transactions, manual reconciliation consumed significant staff time and carried inherent error risks.
Regulatory Compliance Gap
State Bank regulations required two-factor authentication for interbank transfers above a certain threshold, but the batch payment system lacked this capability at the approval step, creating a compliance gap.
Our Solution
Automated Reconciliation Engine
Built an automated matching engine that cross-references uploaded Excel paysheets with bank records in real time. The system validates account numbers, amounts, and beneficiary names : flagging discrepancies for manual review while auto-approving matched records. Also implemented automatic virtual account number conversion.
2FA Batch Approval & Compliance
Integrated two-factor authentication at the batch approval step for high-value interbank transfers, meeting State Bank of Vietnam Circular requirements. The 2FA flow supports multiple authentication methods and maintains a complete approval audit trail.
Technology Stack
Project Highlights
- Automated paysheet-to-record reconciliation
- 2FA compliance with SBV Circular regulations
- Virtual account number auto-conversion