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by mtillman
974 days ago
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To your point, bank statement reconciliation (not the only kind of or even the most important type of financial reconciliation) is typically audited by scoring transactions against house financials which then buckets them into a few categories such as matched, no match, "FRAUD!", etc. Solutions to this use case (bank reco), often look more like recommendation engines as human auditors end up manually reviewing anything larger than a defined variance threshold. One area where M/L could make sense is to provide a high confidence suggestion around "FRAUD!" against a real-time stream of transaction data which I have personally worked on at a large bank-it was a long time ago (20 years) and the ROC curve wasn't impressive. Disclaimer: OpenEnvoy provides real-time auditing & reconciliation solutions but in front of the ERP so we don't directly compete with MT. |
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