Use case summary
Corefy pulls statements from every connected provider, matches them to the transactions recorded on the platform, and flags any that disagree. Fees, refunds, chargebacks, and balances update automatically, and your team works a short exception queue. Result: reconciliation runs continuously instead of consuming the first week of every month.
- Payment Ops
- Finance & CFO
Why the numbers never tie out on the first pass
Payment teams run money through several providers at once, and each keeps its own books. Every provider, bank, and merchant account reports in its own format, on its own settlement schedule, net of its own fees.
So the numbers rarely agree. A capture recorded on Monday settles Wednesday, in a different currency, minus a fee you have to derive. Refunds, chargebacks, and retries arrive as separate lines with no shared reference.
Multiply that across every provider and reconciliation becomes a standing headcount cost. It persists because the work stays invisible until a settlement never lands, a fee is charged above the agreed rate, or a close slips.
How automated payment reconciliation works on Corefy
Reconciliations on Corefy continuously compare two ledgers: what the platform recorded and what each provider says it settled. You configure it once per connection.
- 1
Pull statements from every provider
Corefy requests statements over the provider's API, handles callbacks, and accepts manual or bulk uploads in .csv, .xls, or over FTP when an API is unavailable. Every connected account feeds the same statement database.
- 2
Normalize what arrives
Incoming data from different providers is auto-mapped onto shared properties, so a refund at one provider and a reversal at another become the same field in one place.
- 3
Match automatically and finalize
Transactions are processed and pushed to finalization without a person touching them. Delayed auto-reconciliation runs a second pass later, which accounts for chargebacks and refunds that land after the original settlement.
- 4
Work only the collisions
When your record and the provider's record disagree, Corefy detects the mismatch and alerts you. Corrections apply automatically where the provider has supplied newer data, and manually where a human has to decide.
- 5
Verify the fees you were charged
Route fee auto-correction recalculates the fee for each transaction route against what the provider actually charged, which is where quiet overcharges surface.
- 6
Keep balances live and check your own side
Balances across every merchant account sync continuously, with history you can inspect. Reverse reconciliation lets you compare your internal ledger against Corefy's closing balances through the reconciliations API, an .xls export, or a direct database connection.
What you get
Reconciliation stops being a monthly event and becomes a background state.
A close that starts clean
Balances and statements are already matched when the period ends.
Exceptions instead of everything
Your team reviews the transactions that disagree and leaves the rest alone.
Fees you can verify
Route fees are recalculated against what the provider actually charged.
One record for audits
Every statement, correction, and balance change is stored with its history.
56% of payments businesses still reconcile in spreadsheets
A 2025 survey of 250 UK payments and e-money businesses found that 56% still rely on spreadsheets for reconciliation and reporting. Among those firms, 94% struggle to meet reporting deadlines. The survey traced matching difficulty to three specific conditions: cross-currency transactions, multiple payment channels, and high transaction volumes, which describe the operating reality of most multi-provider merchants. Automating the match against provider statements removes the manual step that produces those delays. It does not remove the exceptions themselves, which still need a person to resolve.