Novvl Expands to Unified Financial Close Platform to Automate Enterprise Reconciliation

Novvl has expanded its core reconciliation engine into a unified financial close platform, addressing a critical bottleneck in enterprise treasury and accounting. For fintech professionals, this represents a shift toward consolidating fragmented back-office workflows into a single, low-code environment capable of handling high-volume transaction data in real-time.

What was announced

Novvl has transitioned from a specialized reconciliation tool to a comprehensive solution for both reconciliation and the period-end financial close. The platform is designed to serve finance and operations teams that struggle with the disconnect between banking data and Enterprise Resource Planning (ERP) systems. By building close capabilities directly on top of its existing reconciliation engine, the company aims to provide a more scalable foundation for high-growth businesses.

The platform utilizes a dual-track technical approach: low-code configuration for teams needing out-of-the-box automation, and a developer-friendly API for organizations requiring deep integration within complex, high-volume transaction environments. This architecture is intended to simplify implementation while reducing the manual labor typically associated with month-end reporting.

Performance metrics released alongside the expansion indicate significant operational gains for early adopters. Novvl reports that clients have achieved a 97% transaction match rate. Furthermore, the platform has demonstrated a 70% reduction in the time required to close financial periods and a 30% reduction in associated labor costs, effectively decoupling back-office headcount from transaction volume growth.

"We built Novvl as the platform I wished I had when I was building bank products and buying enterprise tools—because the same issue kept showing up: teams couldn’t get clean, reconcilable data between their banks and ERP, especially at close. Novvl solves that problem by giving CFOs, treasury leaders, and their clients a clear, real-time view of their data across accounts, entities, and products, so they can trust their numbers and move faster when it’s time to make decisions,"

Vanessa Angeles, CEO of Novvl.

The companies involved

Novvl is a financial technology firm focused on automating the intersection of treasury, reconciliation, and financial reporting. The company is led by CEO Vanessa Angeles, who brings extensive experience in developing enterprise solutions for major financial institutions, including U.S. Bank, Capital One, and HSBC. Her background includes work in enterprise products and the broader fintech ecosystem.

The technical direction of the firm is overseen by CTO Kaloyan Bochevski. Bochevski previously built enterprise technology at ReconArt, a specialist in reconciliation software, and has experience navigating complex accounting technology environments across the United Kingdom and Europe. The company’s advisory board includes Alan Demers and Thomas Diamante, a Principal at Organizational and Enterprise Advisory.

The broader market context involves established global banking entities such as Citi Group, JPMorgan Chase, and American Express, alongside consultancy firms like McKinsey & Company and Merrill Lynch, all of which operate within the enterprise finance landscape that Novvl’s unified platform seeks to streamline.

What FF News has reported before

FF News has previously covered significant shifts within the global banking and treasury sectors, including HSBC to sell Egypt retail banking operations to Emirates NBD, reflecting the ongoing restructuring of major financial institutions. We have also tracked the rise of automated finance tools, such as when Rivo secured $3.1M to launch AI-powered autonomous cash management platform, highlighting the industry-wide demand for intelligent treasury solutions.

What this means

The expansion of Novvl into the financial close space puts immediate pressure on legacy point solutions that handle reconciliation and closing as separate, siloed functions. For the enterprise sector, the "time to close" remains a primary KPI of operational health; by unifying these processes, Novvl is betting that CFOs will prioritize architectural simplicity over best-of-breed fragmentation. The move highlights a growing industry consensus that reconciliation is no longer just a data-matching exercise, but the essential foundation for real-time financial integrity. The challenge for the sector now lies in whether these automated platforms can maintain their 97% match rates as transaction volumes and regulatory complexity continue to scale globally.