Eko Recon

Eko Recon is a bank-reconciliation system aimed at fintech finance teams rather than general bookkeeping. It suits operators handling several settlement streams who can run software themselves. The main trade-off is clear: extensive controls and workflow coverage come with self-hosting responsibility.

Overview

Eko Recon brings together reconciliation for DMT, AePS settlement, payment-gateway net settlement, QR settlement, chargebacks, E-Value wallet loads, BBPS refunds and SBI Kiosk P01–P04. That product focus makes it a credible choice for payment operations with varied settlement processes, while it is less natural for a small business seeking a simple bank-feed matcher.

Eko Bharat Ventures’ finance operations team built it for live settlement volumes across more than 12 product lines. The MIT license permits teams to inspect and adapt the code. Local and Docker deployment, SQLite by default, and production options for MySQL or PostgreSQL give technical teams control over where data runs, but also make infrastructure and maintenance part of the buying decision.

Key features

Ingestion and matching

The system accepts CSV, XLSX/XLS, PDF and tab-separated text files, recognizing headers and formats automatically. That is useful when banks and payment partners produce inconsistent exports. Its priority-ordered rule engine matches on TID, tracking number, UTR and amount, and flags amount-tolerance mismatches. Teams can therefore encode operational matching logic instead of relying only on exact file joins.

Exceptions and approvals

Open Items, manual matching, overrides with mandatory remarks, maker-checker approvals and ad hoc tags provide a structured route for unresolved transactions. Mandatory explanations and approval separation are valuable where reconciliation changes need an audit trail, although they add process discipline that may be unnecessary for a very small operation.

Reporting and automation

Reconciliation summaries, ageing and SRC analysis support oversight, while matched-pair exports, EOD digest emails, scheduled subscriptions and monthly reconciliation certificate PDFs turn results into recurring operational reporting. Watch-folder uploads, cron schedules and automatic reconciliation after ingest reduce repetitive handling. Startup self-healing migrations are aimed at keeping deployments operational as the schema evolves.

Controls and integration

Append-only audit logs, JWT and API-key authentication, IP allowlists, per-module permissions, product scoping and session logging provide a substantial control layer. The JSON API is documented through Swagger and ReDoc. AI integrations can use Anthropic, OpenAI-compatible or local providers, but receive de-identified fields and return advisory output requiring human approval; this is assistance, not unattended decision-making.

Pricing

Eko Recon is free software and open source under the MIT license. There is no recurring subscription stated for the software itself. A plan labelled “Pricing not published” carries custom pricing, so buyers needing that arrangement must request a quote. The free open-source route is the better fit for teams able to provide deployment, database and support capability; organizations wanting vendor-managed terms should clarify the quoted offering before committing.

Platforms

It supports API, web, Windows and self-hosted use. One-container Docker deployment and local operation suit controlled environments, with SQLite for straightforward starts and MySQL or PostgreSQL for production installations.

Who it's for

Choose Eko Recon when fintech operations span multiple settlement products, require exception approvals and need scheduled evidence of reconciliation. It is particularly suited to teams with engineering or infrastructure ownership. It is a poor fit for buyers who want a turnkey hosted service, a consumer mobile workflow or a general accounting package.

Pros and cons

Pros

• Broad fintech module coverage supports several settlement and refund workflows in one system.
• Priority rules, tolerance flags and controlled overrides handle both routine matches and difficult exceptions.
• Audit, authentication, scoping and approval features support governed operations.
• Open-source licensing, Docker support and database choices provide deployment flexibility.

Cons

• Self-hosting leaves infrastructure, upgrades and operational support with the adopting team.
• The workflow depth may be excessive for simple, low-volume reconciliation.
• Custom-priced commercial arrangements require a separate quote rather than a transparent published subscription.

Alternatives

For a browser-based option with a free allowance and mobile apps, consider SahiSay Reconciliation; its free plan allows five reconciliations per day, unlimited transactions per file and PDF export, while Pro costs ₹1,499 a month.

Settler is a free, self-hosted/API alternative with 10,000 monthly reconciliations and local evidence and replay traces on its Open Source plan.

speedRecon is a web-only freemium choice for single users needing up to three reconciliations per month and 300 rows per file on its free-forever plan.

OpenRecon offers a no-account, MIT-licensed self-hosted/API product with no paid tier.

For paid web products, FIS Data Integrity Manager, BankRecon, OneCap and Serrala PSP Reconciliation are alternatives.

Browse the wider Account Reconciliation Software category for more options.

Verdict

Eko Recon is a strong recommendation for technically capable fintech teams that need domain-specific matching, controlled exceptions and defensible reporting without a software-license charge. Look elsewhere if your priority is a managed cloud service with predictable subscription pricing and no deployment burden.