e2gen Integrated Payment Processing

Financial institutions face the continual challenges of providing clients with access to new payment services within a cost conscious and highly competitive environment.

Integrated Solution

IPP installs on the IBM iSeries (i5) providing a high performing, resilient and a fully scalable processing solution. Integration with popular back office solutions include:

·         Equation

·         Globus

·         G3

·         IBIS

·         ICBS / Signature

·         MIDAS

·         OLYMPIC

Standard interfaces allow rapid deployment and return on investment. Unix and proprietary systems are also supported.  Front and middle office systems can also be integrated.

IPP provides multi-currency, multi-entity and multi branch support for automatic processing and accounting.  Any number of entities and branches can be supported on a single iSeries. Inter-entity routing over the institutions’ own secure networks is configurable.

IPP payment processing can achieve over 90% automation (STP) and includes interfaces to handle account postings and charging. Outward payments are created automatically as required.

 IPP provides an exception processing environment where users are notified instantly, of any identified exceptions.

Payment Services

·         IPP is configurable to support any number of payment message service types including:

·         SWIFT (FIN, ISO15022)

·         SWIFT Workers Remittances (ISO2002)

·         SEPA (Credit & Direct Debit)

·         TARGET2, EBA2

·         Dr & Cr card (ISO8583)

·         Domestic Clearing

o   BACS (UK)

o   CHAPS & EUROCHAPS (UK)

o   Faster Payments (UK)

o   Elixir

o   EuroElixir

o   Sorbnet

·           Proprietary formats

·           Single & bulk message processing

Message Processing

IPP provides a configurable environment for processing all messages leaving or arriving at the institution. Some of the key features include:

·         Queuing and viewing environment

·         Message status monitoring

·         Duplicate message processing

·         Message repair

·         Message enrichment

·         Message statistics

·         Exception monitoring & processing

·         Reject & return processing

·         Counterparty (SLA) charging

·         Currency cut off times

·         Currency calendars

·         Transaction entry

·         Payment orders

·         Notifications & alerts

·         CRM notification of payments

·         Query & response management

·         Message release processing

·         Reporting

·         On-line message archive

Outward Payments

Messages are generated in a number of ways:

·         Data extracted in real time from the back office.

·         Files passed into IPP

·         ‘Single pass’ IPP manual transaction entry

·         IPP payment orders

Message creation is in real time. IPP can be configured to automatically select the required payment service messages for delivery.

Message authorization and release procedures can be applied to any outward messages; messages created from different sources can have different release rules applied.

e-banking

IPP automates the transaction flow between e-banking and the back office system. Instructions to debit client accounts and create pay-away instructions, manage internal transfers, service enquiries and generate payments notifications are standard features.

Inward Payment Message Processing

IPP automatically determines the business context and applies the correct processing to the inward messages – credit, debit or `turn around’ messages.  On receipt, messages are cleaned and the account data validated.

Message Repair

A major obstacle to fully automating payment message flows is data quality in received messages. IPP provides automatic data cleaning and validation of account data in the back office system. Repair learning and other facilities ensure the easy maintenance of consistently high STP rates.

Automated Accounting

Accounting entries are automatically generated and posted to the appropriate systems based on accounting rules.

Posting references and ledger narratives are fully configurable, managed automatically and cross-referenced in the e2gen audit trail and database. Any related messages are also cross referenced in the e2gen database to provide users with a full transaction processing history. Some of the automatic processing provided includes:

·         Debit processing

·         Credit processing

·         Turnaround processing

·         Reversals

·         Charging

·         Periodic charging

·         VAT on charges

·         Regulatory payment statistics

·         Balance & Available Funds Checking

·         Hold (reserve funds) processing

·         FX conversion

·         Ledger narratives

·         Posting approval

·         Account type posting controls

Compliance, User Security & Audit

User profile and static data changes are managed under dual control. Users can be allocated to, or prevented from handling specific functionalities and multi-currency processes. Comprehensive audit logs of all changes are available for the appropriate staff. Benefits of this feature are:

·         Sanction monitoring

·         MiFID

·         PSD

·         Configurable compliance & audit control

·         User profile management

·         Static data management

·         User limits

·         Dual control (4 eyes)

·         Audit & message change audit

All data changes are date and time stamped. All processing events (system and user) are logged on the audit trails and attached to each message.

Reporting

IPP provides a range of standard reports produced on request or at day end. Reports can also be exported.  On-line statistical information based on departmental and enterprise messaging is provided

Cash Management

Optional, integrated cash management modules enhance operations and key features of these modules include:

Account Reconciliations

·         Automatic rules based matching

·         Statement to ledger items

·         Ledger to ledger items

·         Statement to statement items

Balance Reporting

End of day statements (MT940 / MT950)

·         Intraday reporting (MT941, MT942 etc.)

·         Statement on demand (MT920) processing

·         Single statement, multiple routing destinations

Cash Management

·         Integrates with general ledger

·         Monitors all cash movements

·         Positions by currency

·         Configurable cut off times by currency

·         Automatic or manual initiation of transfers

·         Automatic message generation

This functionally rich range of modules provides the institution with complete control over its cash flow.

Potentially costly exceptions, e.g. overdrawn accounts, are automatically highlighted allowing immediate intervention to reduce interest charges and other risks.

Sweeping functionality, offered by the cash management, module allows optimization of the overnight placement of funds. Implementing the cash management modules and the e2gen payment processing provides greater visibility and control for the institution.