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FBO Reconciliation demo

Each FBO account tied every morning to the sum of its end users' balances, the difference walked to zero with its records 1:34

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What the demo shows

Sponsor banks reconcile each FBO custodial account to the fintech's end-user ledger daily

Seven agents do the reading, pairing, explaining and checking. The Intake agent reads the core's FBO balances, the payments hub's ACH and wire files, card settlement and each partner's ledger file, and checks control totals and format. The Matching agent pairs each day's ledger entries with the bank records behind them. The Break agent explains each difference with its records, such as an ACH return batch posted after the ledger cut-off, says when timing items should clear and checks that they did. The Ledger Integrity agent checks each end user for negative, duplicate and ownerless balances, the 30 record fields of the FDIC's proposal, ownership codes and unusual activity for the BSA Officer. The Tie-out agent recomputes both totals independently from the raw files. The Attestation agent drafts the daily attestation, and the Oversight watcher drafts partner notices and escalates late files and missed SLAs. A reconciliation analyst prepares the attestation and a second analyst checks it; the oversight manager sends notices; the Controller approves every money movement.

Transcript

  1. FBO Reconciliation proves each morning that a sponsor bank's custodial account matches every end user.
  2. After one fintech middleman failed in 2024, $85 million went unmatched.
  3. Plover Pay, October 21: the bank holds $1,466.07 more than the ledger.
  4. The Break agent walks that to zero, each step with its records.
  5. An ACH return batch, posted ten minutes after the ledger closed.
  6. Then card timing. Unexplained: zero, and an independent recompute agrees.
  7. Three end users are negative, so Nadia opens a case with Plover Pay.
  8. Celeste, the oversight manager, checks the notice and sends it.
  9. Nadia prepares the daily attestation; a second analyst checks and files it.
  10. Every step is audited, and examiners see any day's balances in seconds.
  11. Six partners, 412,000 end users, proven before ten every morning.
  12. Built on Botminds: agents, data, screens and governance on one platform.

The narration as written for the film. Captions are on the player.