Payment processing
From complex high-value international payments, to domestic and instant payments. SWIFT service bureau.
The next generation virtual accounts for real-time cash and liquidity management
Head of Cash Management, Tietoevry Banking
A flexible sub-ledger of virtual accounts allows corporations to reduce the number of real bank accounts and the associated maintenance cost
Bank customers can rapidly open, close and administer virtual accounts themselves, creating account hierarchies in line with their business operations
Customisable dashboards and views, external widgets, alerts, single log-in, all contribute to easy and intuitive use of the system and enable on the go decision making
Solves reconciliation challenges by taking manual work out of matching remittance information with invoices. While money is received into a single physical account, incoming funds are also automatically allocated to individual virtual accounts or sub-ledgers. The solution promotes higher rates of straight-through reconciliation, reduced levels of ledger inaccuracies, improved visibility of payment data and enhanced decision making.
Ensures segregation of client funds at the lower level of virtual account hierarchy, which is an essential need for various private and public sector players like asset managers, pension funds, insurance providers and real estate agents. The solution delivers real-time visibility and operational control of client funds, it also smooths transaction allocations and interest apportionment at the underlying client level.
Allows companies of different sizes to adopt an agile treasury management model leading to centralisation, cost efficiencies and risk reduction. Building on flexible virtual account hierarchy, the solution delivers full overview of payments and liquidity positions in real-time. Functionality includes POBO and ROBO capabilities, inter-company interest calculation, automated money transfers, enhanced reporting to ERP and much more.
Provides customers of a bank with the access to local payment infrastructure in a foreign country for transaction handling (both payables and receivables) without requiring a real account. The solution extends global reach of a bank by opening virtual branches via the member banks of its own banking group or in association with partner banks.