The automated validation software allows FNB international banking centers to check client payment data before it is released by the bank. Not only minimizing system errors, Vortexâs software solution is also more cost-efficient than traditional manual cross-checking.
IBAN numbers, check digits, BIC codes and other reference data is now validated to deliver greater straight-through processing and route appropriately to other SEPA-compliant banks.
FNBâs goal to achieve greater operational efficiency was the driving force behind choosing Vortex and chief operating officer of International Banking, Gerrie Butler, looks forward to the continued rollout of the Vortex solution.
âThe system was easy to deploy and resulted for us in a more efficient client support framework, by ensuring that potential payment errors are spotted before being sent to clients,â Butler adds.
Petra Financial Marketing Director, John Burton, says the Vortex system means less room for errors, providing a definite corporate banking advantage for this South African bank.
âVortex offers advanced capabilities and this way of automating at branch level is a definite innovation, bringing FNBâs business banking performance on a par with top international standards,â Burton says.