Accelerated Host to Host On-boarding
It wasn’t that long ago that only the biggest corporates in the world automated the flows of their cash and payments data to and from their trusted banking partners or even centralised such flows from their subsidiaries through their corporate treasury. Nowadays, such automation is becoming standard, even in the emerging markets. Corporates and SMEs are demanding greater efficiencies from their banking service providers and this is leading them away from manual on-line banking functions and onto the more integrated and automated Host-to-Host (H2H) channel.
But there is a major barrier that all banks and corporates are struggling to overcome. As payment volumes increase, and the number of organizations requiring automation grows, so does the range and variety of payment formats, payment methods, communication protocols, and processing workflows that need to be supported within this automated channel.
This growing complexity and need for speed to reduce time to revenue, places enormous pressure on the bank’s on-boarding team to complete their tasks in a timely manner. Each customer engagement can lead to protracted development projects, requiring the definition of specifications, validation rules, exception flows, transformations, programming, testing and documentation.
Consequently, this creates a bottleneck in the rolling out of new services and the on-boarding of new customer payment flows. A lack of agility through speed and flexibility, in configuring the processing for disparate customer flows, and handling the transformation of customer data is affecting the service offered by the corporate bank and time to revenue.
VolPay Channel addresses this key challenge by increasing the agility of the bank’s on-boarding service, optimizing the process for taking on new customers and enabling the flexible pre-processing of their payment, cash, trade, and securities transactions before their distribution to the internal systems of the bank.
VolPay Channel is the engine that flexibly and speedily on-boards, validates, pre-processes and exception manages all incoming H2H data. In doing so, it drives higher levels of automation and efficiency with significantly shortened time to revenue within the bank and corporate enterprise.