Our payment workflow solution is an image enabled payment and data origination utility which supports the controlled entry, validation, recording and reconciliation of routine business transactions to provide clean, error free data for subsequent transmission and processing.
FWS is a full end to end Clearing Solution which is ‘Truncation Ready’. Apart from the ability to process cheques, the Solution can also be used to capture and manage EFTs. The solution can transmit the transactions to a Clearing House Gateway or directly to the Clearing House if required.
This can be done either at regular intervals or continuously to allow the Clearing House to settle at will.
The core system enables complete inward, outward and return (unpaid) processing with the following features:
- Scan deposit slips and their associated cheques
- Capture information on cheques and other financial documents and reconciliation.
- Correct MICR misreads
- Balance batches to deposits / batch control vouchers
- Endorse the cheques scanned for reference and indexing
- Create necessary adjustments
- Produce necessary advices and reports
- Manage distributed capture
- Create the required image and financial output formats for the clearing house interface, core banking application and archive
- Capture and manage EFTs/Direct Debits
- Processing of unpaid/returned items and discrepancies
- View history data and images and reports on the Archive
- Import and management of Corporate and Salary payment files.
The Finteq Workflow Solution provides a comprehensive platform for the creation of payment and non-financial data in a controlled and secure environment. The system’s flexibility allows for deployment in any of the following methodologies -hub, spoke, thick client, thin client, web, hybrid.
Typical ‘workflows’ containing a broad range of routine business activities have been developed for most financial processes including: Inward/Outward Clearing, Electronic Funds Transfer, Payments Returned/Unpaid handing and others.