It is becoming increasingly crucial for banks to be able to check outgoing payments and loans for risks of non-payment. They require an instrument for controlling transactions immediately before they leave the bank if they are going to be able to stop them. This requires fast reaction times.
Cellent Finance Solutions AG provides such an instrument with its S/Monitor Transaction Controlling software. Names of risky finance institutes are stored in the system. Using individually definable screening rules, the software examines transactions to determine whether they are to be sent to a "barred" bank. This allows finance institutes that are threatened with insolvency, for example, to be identified and blocked world-wide at any time. Authorized staff are able to check the transaction and either approve or stop payments with just a few mouse-clicks.
"S/Monitor Transaction Controlling reliably prevents payments to finance institutes that are in difficulties," emphasizes Klaus Spiesshofer, Sales Manager at Cellent Finance Solutions AG. "This is an effective measure in restoring faith in interbank trading."