noun_Email_707352 noun_917542_cc Map point Play Untitled Retweet Group 3 Fill 1

Funds control engine for Instant Payment approvals and reservations

Ensure real-time payment approvals and reservations with a powerful funds control engine. Seamlessly integrate with your systems to manage funds availability and support instant payment requirements.

All-in-One Cash Management Funds Approval Solution

The Funds Approval Solution is a critical component for enabling real-time payment processing in banks. It addresses the challenge of legacy systems struggling with instant payment demands, such as real-time balance checks and funds approval. This solution integrates with existing bank infrastructure to provide up-to-date, accurate data on account balances, ensuring that funds are available and properly reserved before a transaction is approved.

By leveraging APIs integration, the Funds Approval Solution ensures that banks can validate and approve transactions swiftly, reducing risk and maintaining operational efficiency. This helps banks meet the stringent requirements of instant payment systems, ensuring compliance with related regulations and improving overall customer experience by enabling faster, more reliable payments.

The system can be implemented without a complete overhaul of existing infrastructure, providing a seamless upgrade to legacy systems, and allowing banks to remain competitive in an increasingly real-time payment environment.

Tietoevry at your service

Main challenges for corporate banks

Legacy banking systems often struggle to provide real-time balance checks and funds approval, hindering banks' ability to meet the demands of instant payments and related regulatory requirements.

Legacy systems limiting RT processing

Legacy banking systems often struggle to provide real-time balance checks and funds approval, hindering banks' ability to meet the demands of instant payments and related regulatory requirements.

Without real-time validation, banks face delays in approving payments, increasing the risk of errors and fraud, and ultimately lead to customer dissatisfaction.

Transaction approval delays and risk

Without real-time validation, banks face delays in approving payments, increasing the risk of errors and fraud, and ultimately lead to customer dissatisfaction.

Many banks face difficulties integrating new payment systems with outdated infrastructure. Our solution allows seamless integration with existing systems, enabling faster, more efficient payments.

Integration challenges

Many banks face difficulties integrating new payment systems with outdated infrastructure. Our solution allows seamless integration with existing systems, enabling faster, more efficient payments.

Funds control engine

The Funds Approval Solution integrates with existing bank systems to enable real-time balance checks and transaction validation. . It assists banks to meet the demands of instant payment systems without overhauling legacy infrastructure, reducing risk and ensuring efficient processing.

How it works

 

  • The Funds Control Engine manages funds across selected accounts.
  • It applies funds control to single accounts or complex corporate structures with multiple currencies.
  • It handles both fund reservations and direct transactions.
  • Instant payment approval is expedited for faster transactions.
  • It integrates using standard ISO messages for system compatibility.
  • The API facilitates transaction and reservation processing, as well as enabling credit limits and performing fund checks across various accounts within the structure.
  • Information is transmitted via data streams to the bank`s IT and accounting systems for real-time updates and reconciliation.

 

Find out more

Riding the fast payments wave

The global move towards instant payments is thrilling for us who have been in the payments business a long time.

Read the blog

The future of cash management 2024

Tietoevry Banking has released its latest annual report, The Future of Corporate Cash Management 2024

Get the report
Share on Facebook Tweet Share on LinkedIn