Quartal Financial Solutions AG, Europe's market leader for fee billing, revenue, expense, and commission management solutions, has today introduced the Quartal Payment Management Suite for next level payment management and distribution processing within the financial services industry.
The Quartal Payment Management Suite enhances the leading best-of breed Quartal solution portfolio by offering four powerful, additional modules such as the Quartal Tax Matrix, the Quartal Payment Distribution Matrix, the Quartal Payment Instructions Matrix and the Quartal Forex Order Manager.
Besides the management of sophisticated tax rules, payment instructions and readily generated Forex orders the Quartal Payment Distribution Matrix module adds further functionalities and features to support state-of-the-art payment management processes and enhances Quartal’s market-leading solutions. The module Quartal Payment Distribution Matrix allows for a user-defined rules management of various fee and commission distribution schemes for an automatic split of payments and invoices across multiple beneficiaries. The process distributes payments automatically as well as underlying fees and commissions to multiple beneficiaries, taking into account any distribution rule such as user-defined attributes and percentages, including more complex splitting algorithms.
This not only provides additional flexibility, but also allows end users to significantly speed up the operational STP rate and avoid the possible need of running the same calculation multiple times by dramatically improving transparency and compliance adherence.
Quartal’s flagship products Quartal FEE MANAGER and Quartal COMMISSION are used to automate real end to end processing of service and distribution fees in a single platform. The largest fund platforms, transfer agencies, asset managers and wealth managers rely on Quartal’s solutions to manage every type of commission and fee calculation.