Safeheld
    Sign inBook a demo

    Every account and ledger. Reconciled every day.

    Bank statements, ledgers, processor and partner records matched every day, with every difference raised the day it appears.

    Book a demoSee the platform

    How it works.

    01

    Connect

    Bank statements arrive by secure file transfer or upload. Ledgers and customer balances arrive by file or through our integration API.

    02

    Read

    Every file is read into one structure, whatever the bank or format, and every record keeps the file and line it came from.

    03

    Match

    Records are matched within the tolerance and date window you approve, for each pool and currency, internally and against the bank.

    04

    Sign off

    Each run is signed off by your team, with four-eyes and blocking controls where you set them.

    Sources

    Your banks, in the format they already send.

    Bank statements by secure file transfer or upload, set per account. Your own systems by our integration API.
    Your bank's standard statement files, the formats banks send as standard (MT940, camt.053 and BAI2), plus CSV, Excel and JSON, read as they arrive.
    An expected arrival time for each source, so a late file shows before the figures are used.
    SourcesToday
    SourceMethodFormatStatus
    Modulr, GBP operatingSFTPCSV06:00
    ClearBank, GBP safeguardingSFTPcamt.05306:02
    HSBC, USD client fundsSFTPBAI206:04
    Banking Circle, EUR safeguardingSFTPMT94006:05
    Customer balances ledgerUploadCSVDue 07:00

    Reconciliation

    Internal, external and three-way, for every pool.

    External: your records against the bank statement.
    Internal: customer balances against your own ledger.
    Three-way: bank, ledger and customer balances in one run.
    Each pool and currency reconciled on its own terms, entity by entity.
    HSBC, USD client funds11 Oct
    Card settlement$206,315.40
    Wire in, INV-20931$48,200.00
    ACH credit, 88412$12,480.00
    Wire out, PAY-90117−$75,000.00
    Break$9,870.00Wire in, no reference
    Sent to Investigate

    Rules

    Matching rules you approve.

    Amount tolerance for every match.
    Date windows from same day to 14 days.
    Sign-off controls: four-eyes, and sign-off blocked while a critical breach or an unremediated investigation is open.
    Every change versioned, with the reason recorded.
    Matching rulesVersion 7
    Amount tolerance$0.50 per match
    Date window2 days
    Sign-off controls
    ControlSetting
    Four-eyes sign-offOn
    Block sign-off while a critical breach is openOn
    Block sign-off while an investigation has no remediation noteOn
    Every change versioned, with the reason recorded.

    Schedule

    Every run on time, at each entity's cut-off.

    A schedule per pool and currency: business-day offset, local cut-off and time zone.
    A late run warns first, then raises a breach.
    The run summary shows lines read, matched and still open.
    Run, 11 Oct 07:14Nexus Payments Inc. · USDReady to sign off
    Statement lines18,412
    Matched18,409
    Open differences3
    Cut-offNext business day, 12:00 New York
    Second person signs off.View differencesSign off

    Positions

    One position per entity, in its own currency.

    Owed to customers, from your records.
    Held in accounts that count under that entity's rules.
    Recalculated after every run. Never converted, never netted across the group.
    PositionsAfter the 07:14 run
    EntityOwedHeldDifference
    Nexus Payments Inc.USD$48,210,400$48,512,900+$302,500
    Nexus Payments UK LtdGBP£31,604,118£31,579,118−£25,000
    Nexus Payments B.V.EUR€12,880,050€12,880,050€0
    Nexus Payments Pte. Ltd.SGDS$6,402,300S$6,455,800+S$53,500
    Each entity in its own currency. Nothing netted.

    Reads the statements your banks already produce.

    In the format each bank already sends, for every company and currency.

    Modulr
    ClearBank
    Griffin
    Banking Circle
    LHV
    BCB Group
    HSBC
    Barclays
    J.P. Morgan
    Citi
    Bank of America
    DBS
    MethodHow it worksFormats
    Integration APIYour systemsLedger and customer balance figures sent by your own systems through Safeheld's integration API.JSON
    Secure file transferSFTPStatement files collected from your bank or partner on a schedule.MT940, camt.053, BAI2, CSV
    Arrival checksScheduleEach source has an expected arrival time, so a late file shows before the figures are used.All formats
    UploadFileStatements, ledgers and customer balances uploaded by your team.CSV, Excel, JSON, MT940, camt.053, BAI2

    Standard bank payment messages (ISO 20022) are read as well, so payments sent and received can be matched to the statement.

    Controls and audit.

    Traced to source

    Every figure opens to the statement line, file and row it came from.

    Versioned rules

    Tolerances and date windows change only with a reason, and every version is kept.

    Four-eyes sign-off

    A second person signs off the run where the control is on.

    Blocking controls

    Sign-off stops while a critical breach is open or an investigation has no remediation note.

    Roles

    Administrator to view-only, with read-only access for auditors, banks and regulators.

    Full audit trail

    Every run, match, rule change and sign-off recorded with a name and a time.

    What it produces.

    Daily reconciliation

    Internal, external and three-way results for each entity, pool and currency.

    Per run, signed off
    Open differences

    Every unmatched item with its amount, age and source records, passed to Investigate.

    Breaks list
    Entity positions

    Owed, held and the difference, used by Forecast, Act and Report.

    After every run
    Reconciliation history

    Every run, sign-off and rule version, ready for the auditor.

    Audit evidence pack

    Questions.

    Which banks can Safeheld read?

    Any bank that provides statements by secure file transfer or download, in CSV, camt.053, MT940, BAI2 or Excel. Statements can also be uploaded. Partners, processors and your own systems can send figures through our integration API.

    Which file formats are supported?

    Standard bank statement formats (MT940, camt.053, BAI2), CSV, Excel and JSON for statements and ledgers, and standard bank payment messages (ISO 20022).

    How often does reconciliation run?

    On the schedule you set for each pool and currency, with a business-day offset, a local cut-off and a time zone. A run that is late raises a warning, then a breach.

    Does Safeheld replace our ledger?

    No. Your ledger stays the record of customer transactions. Safeheld reads it by file or through our integration API and reconciles it against the bank and customer balances.

    How are entities in different currencies handled?

    Each entity is reconciled and positioned in its own currency. Nothing is converted or netted across the group.

    What happens to a difference?

    It is raised as a break with its amount, age and source records, and goes to Investigate.

    Related.

    Every account. Every day.

    Book a demoSee the platform