‘Smart Matching’ added to Simple Fund 360, allows code free bank processing

Nest egg, superannuaiton, SMSF, retirement
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BGL has added part 2 of its AI Assistant – ‘Smart Matching’, which allows what it says is an industry first, “code free SMSF bank processing” – to Simple Fund 360.

“We are always looking for new ways to help our clients make the shift from annual processing to more regular processing,” said the announcement by BGL.

“Stage 2 of our AI Deep Learning Research introduces ‘Smart Matching’ – an innovation that will dramatically improve the transaction matching process for Simple Fund 360 clients, so they can work faster, smarter and with more accuracy.”

The update follows from the release of the Simple Fund 360 AI Assistant earlier in 2018. At the time BGL said it was “the first Deep Learning transaction review assistant for the SMSF Software industry”.

BGL says, in the video, that Smart Matching is a “unique combination of BGL’s SmartPost III and Zero Touch transaction matching technologies”.

“Smart Matching builds on Simple Fund 360’s automation with Deep Learning AI algorithms that can recognise hard to find patters in SMSF data.”

BGL says the AI Assistant uses this Deep Learning to analyse over 480 million transactions, so it can process otherwise difficult transactions such as cheques.

BGL says its “AI and Big Data Update” includes:

  • “View 4x more transactions on screen
  • New improved filters and sort functions eg search by Amount range and sort by description
  • New Rebuilt Chart Selector  that provides for Control and Sub Account separation
  • 360’s Deep Learning (AI) categorise all your Normal Account and Control A/C transactions, based on a confidence.
  • New Data Entry – Spreadsheet, combining desktop copy & paste functionality with above AI categorisation.
  • New Create Rule preview. – provides real time transparency of a transaction rule match, removing the previous matching delay
  • New auto grouping  into recognised function of all similar transactions
  • New simpler more intuitive transaction split function”

The Simple Fund 360 update also includes other new features, including the ability to cancel TBAR events lodged with the ATO, integration with Xero HQ, one-click integration with ASF audits, and support for new banks and brokers, among other new features.

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