Infogix Payments Monitoring Capabilities

Track Complex Transactions – Ensure Timely Settlement

Time is money. And banks that are adept at sustaining customer relationships and revenue growth know they must settle payments faster while lowering operational risks.

With Infogix automated payments monitoring solutions, you can view all incoming and outgoing transactions as they arrive from external sources (e.g., central banks, clearing houses, credit card vendors, customers, and other banks), and as they move between internal systems and applications to ensure timely payment. Rely on our information-based controls to track and reconcile customer transactions end to end – across business and international boundaries – when your partners leverage our payments solutions across their organizations.

If a payment is lost or late at any stage of the payments lifecycle, our solution automatically notifies you via e-mail or another user-defined alert. You can also view summary status snapshots, drill down to get more detailed information on a payment, and take immediate corrective action before it affects downstream systems or customers.

Verify Payments Follow the Correct Processing Sequence

During the payment transaction lifecycle, there are many consecutive steps. Banks must ensure that payments follow the correct processing sequence from authorization to settlement – across complex systems and networks – to effectively manage their liquidity. Path confirmation is also critical for process optimization and for spotting trends of abnormal behavior that may lead to future failures. Through visual indicators, our solutions show missed, duplicate, or out-of-order payments processing steps. By limiting these types of sequencing errors, you can generate revenue faster and limit exposure.

Balance and Reconcile Financial Information for Each Payment

Incorrect data is the leading cause of failed or late payments. Since payments account for 30 to 40 percent of total net banking revenue, you need continuous assurance that key information for each transaction is accurate, consistent, and reliable.

Our solutions help you visually manage and isolate non-conforming information. Quickly review risk, acknowledge errors, and document corrective actions for a closed-loop audit and compliance trail – an essential requirement for Basel II, Sarbanes-Oxley, Financial Services Authority, and other legislation.

Users can check pre- and post-settlement values within each transaction to make sure that the values are correct and no data is lost. This step is especially critical when validating cross-border payments involving multiple currencies. In addition, duplicate checks automatically ensure that each transaction is unique before and after reconciliation.