Date: October 15, 2020

User Acceptance Test Report of Domestic Nostro Accounts Reconciliation of Kumari Bank
Ltd. through Gokyo Reconciler – Automated Reconciliation Software

About Assignment: Kumari Bank Limited have appointed Gokyo Labs Private Limited for
automation of reconciliation processes of the bank through software- Gokyo Reconciler. The
project covered following overall scope for reconciliation:

1. Domestic Nostro Accounts

2. Foreign Nostro Accounts
3. NRB Accounts
4. ATM Transactions
5. Agency/ Remittance
6. Inter Branch Transactions

This report includes the test results for domestic nostro accounts of the bank.

About Gokyo Reconciler Software: Gokyo Reconciler is custom software for automated
reconciliation of financial data, follow-ups, activity logs, and reporting. Automated
reconciliation helps companies centralize their control functions, improve monitoring,
accessibility, data security, and reduce audit risks and costs. To overcome the problems existing
in the manual reconciliation, Gokyo Reconciler has introduced an automated software for
reconciliation of financial data, follow-ups, activity logs, and reporting helping companies
centralize their control functions, improve monitoring, accessibility, data security, and reduce
audit risks and costs. Benefits provided by the software includes, but not limited to, the
followings:

• Faster reconciliation with higher accuracy (daily reconciliation possible) • Very low manual
intervention required (reduction in HR cost) • Early identification of fraud risk indicators •
Reconciliation of tariff (possible reduction of cost and increment in revenue) • Audit logs of all
reconciliation activities (ensures accountability) • Customized rules and reporting
Test Cases and Conditions:
Account Test Details Expected Result Actual Result Pass/Fail/Not
Executed/
Suspended
Nabil Bank NPR  Reconciliation of  Auto fetch of bank’s  Auto fetch of
NIBL NPR Ledger & Bank CBS data and bank’s CBS data
NIBL USD Statement with upload of nostro and upload of
Himalayan Bank - existing manual statement. nostro statement.
NPR reconciliation rules and  Deployment of  Deployment of
Sunrise Bank NPR comparison with manual manual
Sunrise Bank USD manual reconciled reconciliation rules reconciliation
report in the software rules in the
 Parallel Run of  Simplicity in manual software
automated reconciliation  Simplicity in Pass
reconciliation and  Generation of report manual
manual reconciliation  Maintenance of reconciliation
Logs  Generation of
 User Access report
Management and  Maintenance of
Information Security Logs
 User Access
Management and
Information
Security

Test Carried period: 15 October 2020 to 03 December 2020

Associated personnel from Kumari Bank Limited:

Test Carried and Report Created by: Reviewed By:

Uddab Putuwar Aswin Babu Shrestha

Head - Finance & MIS Department
Prajita Khadka

Bishnu Karki

Rajat Maharjan

Associated personnel from Gokyo Labs Private Limited:

Utsaha Bhattarai

Enclosures:
Manual Reconciliation Report and Report Generated through software for above mentioned accounts
Dear Sir

We have automated software based (Gokyo Reconciler) reconciliation of following nostro

accounts:

1 Nabil Bank NPR

2 Himalayan Bank NPR
3 NIBL NPR
4 NIBL USD
5 Sunrise Bank NPR
6 Sunrise Bank USD
7 Sanima Bank NPR
8 SCB Kolkata INR

Out of total 62 accounts, 14 are related to swift transaction (FOREIGN NOSTRO), 19 are
monthly reconcile. (Statement received from Branches).
And following account are in the process for closer due to there in no transaction with there
banks from long periods.

Details:

1 Laxmi Bank Ltd. NPR

2 Rastriya Banijya Bank Ltd. NPR
3 Green Development Bank Ltd. NPR
4 Siddhartha Bank Ltd. NPR (call/current account of then Deva Bikas Bank Ltd.)
5 Machhapuchhare Bank Ltd. NPR (call/current account of the Deva Bikas Bank Ltd.)
6 Machhapuchhare Bank Ltd.USD (call/current account of the Deva Bikas Bank Ltd.)