Banks

Banks need to move money for its customers as well as for itself.  Its ability to move money through as many channels as possible is important to ensure that it can take care of the needs of its current customers and attract more customers who may want to have the various options for making each type of payment.

Central Banks

Central banks need to have secured and well sophisticated payment processing applications that can process the requests coming from all its member banks.   The central bank payment processing service should be able to channel the requests between the various type of payments like ACH, Real-time ACH, RTGS, Direct Debit, etc. and use the appropriate module to further validate, accept and process the requests.

Other Financial Institutions

Financial intermediaries may participate in the payment cycle by taking roles as intermediary or correspondent.  They should be able to take requests from payment initiators and make necessary debit/credit activities as instructed by authorized parties, and update the counterparties for further processing of the payment instruction.

Corporates

Corporates prefer to send multiple payment instructions to one or more banks in files or messaging services. IMS Payments can intercept such data from various source systems of the corporates, categorize them, validate them according to their destination and transmit them in the format and protocol preferred by the receiving bank.

Payments Via ACH, RTGS, SWIFT Etc.

Prepare, enrich, validate and approve payment instructions and release them through appropriate channels (ACH, RTGS, SWIFT, SEPA, TARGET2).  Reconcile responses and update status.

Frequently requested modules are listed below.

• Payments via ACH
• Payments via RTGS
• Payments via SWIFT
• Payments via SEPA
• Payments via TARGET2

Roles of Banks in the Payment Cycle

• Sender
• Receiver
• Sender’s Correspondent
• Receiver’s Correspondent
• Intermediary

Supporting Services

• Duplicate Check
• Compliance Check
• Cash Management
• Statement Reconciliation
• System Reconciliation
• Data Governance
• Corporate Onboarding
• Information Reporting

Corporate customer-specific File Services

• Integrated Payables
• Integrated Receivables

Realtime Payments

RTP module in IMS Payments supports complete message workflow associated with Real-Time Payments.

The module utilizes reference data and business rules eliminating any source system modification.

It verifies and submits a payment instruction instantly and is capable of accomplishing this task with the ability to process very large volumes.

SWIFT – GPI

IMS Payments offer the GPI module that allows banks to participate immediately and offer such services to its customers.

Banks will be able to implement IMS SWIFT gpi without source system modifications.

Cash Management

Keeps track of cash positions and balances for Nostro and Central Bank accounts at real-time.

Reconciliation

Process incoming statements and reconcile against delivered instructions.

Statement Management

Create and send statements to counterparty banks and corporate customers in desired format and protocol.

Interface With Core Banking

The connectivity with core-banking can be established at real-time through parameter settings.

The reference data tables, business rules and profiles allow integration with core-banking  without modifying the input or output formats.

Reach 100% STP between core-banking and IMS for data traffic in both directions. High visibility and control to data is achieved through dashboards and interface.

Corporate / Bulk Payments

Payment instructions from corporate customers are categorized, validated, transformed and sent to appropriate payment channels.

Responses are processed and status updated.  Offers internal controls, approvals and exception handling.

Compliance Check

High speed processing of compliance check across multiple sanction lists.

High levels of flexibility in how compliance is done for each type of message based on category or subcategory.

Enhance the efficiency of search with the advantages of Fuzzy logic and phonetic search modes.

Dedicated dashboard for compliance group including complete audit trail on flagged messages.

ACH Payments

Support  batch and real-time processing and address all message standards using IMS ACH.  In addition, integrate multiple source systems without having to modify them.

The module offers:

• Interface and dashboards for business users
• Control over individual transactions
• Instant integration with multiple source systems
• Generate and send out Inward Returns
• Session and cut-off time Management
• Mandate Management Workflows
• Manual creation of message for contingency situation
• Reach 100% STP
• Reference Data for Enrichment, Validation & Substitution
• Compliance Check against multiple databases
• Duplicate Checks at multiple stages
• Ability to run on any platform

Engage different processing rules for each transaction, based on content and context.

Formats and Protocols supported:

• MT/MX, ISO 15022/20022
• NACHA or Equivalent Formats
• Excel, XML, CSV, Fixed Length
• Batch loads in any format
• SWIFT FIN, FileAct, Interact
• Files, Queues, Web-service

RTGS Payments

Transacting high value payments moves to a new high with IMS RTGS. It addresses all stakeholders, supports all message standards and integrates source systems without making modifications.

The module offers:

• Interface and dashboards for business users
• Control over individual transactions
• Instant integration with multiple source systems
• Inward Return generation and transmission
• Manual creation of message for contingency situation
• 100% STP with control options
• Reference data for enrichment, validation & substitution
• Compliance check against multiple databases
• Duplicate checks at multiple stages
• Ability to run on any platform

It also addresses engaging of processing rules differently for each payment based on content and context.

Formats and Protocols supported:

• MT/MX, ISO 15022/20022
• Excel, XML, CSV, Fixed Length
• SWIFT FIN
• Queues, Web-service

SWIFT Payments

Make your real-time cross border payments efficient with IMS SWIFT Payment Module.  Using various sub-modules, organize money movement workflows for your business departments.

The workflows include:

• Customer Credit Transfers
• Institutional Transfers
• Foreign Exchange
• Statement Reconciliation
• Cash Management

Salient Features of the module:

• Interface and dashboards for all stakeholders
• Reconcile Responses from SWIFT (Ack, Nack, Confirms)
• Initiate SWIFT based queries (Status, Cancel)
• STP entries to related systems
• Manual creation of messages (Forms, Templates)
• Reference Data for Enrichment, Validation & Substitution
• Compliance Check against multiple databases
• Duplicate Checks at multiple stages
• Ability to run on any platform

It also addresses engaging of processing rules differently for each payment based on content and context.

Real-Time Payments

Take advantage of the emerging real-time payment industry initiatives by engaging this module.

The profile of the module includes:

• Interface and dashboards for all stakeholders
• Response Reconciliation
• Initiate queries (Status, Cancel)
• STP entries to related systems
• Reference Data for Enrichment, Validation & Substitution
• Compliance Check against multiple databases
• Duplicate Checks at multiple stages
• Ability to run on any platform

It also addresses engaging of processing rules differently for each payment based on content and context.

SWIFT GPI

Become SWIFT gpi compliant rapidly without making modifications to any source system.

Test and validate using the ECS Simulator.

Features:

gpi Directory auto upload
gpi directory subscribed from SWIFT can be automatically uploaded to IMS SWIFT gpi module.

gpi Directory based routing and fee calculation
IMS SWIFT gpi module is capable of identifying message routing and calculate fees for transfer.

Smart Form for quick creation of MT103 gpi
IMS SWIFT gpi module have easy to use message creation forms which can be used to create messages very efficiently.

Complete workflows for gCCT, gCOV & gSRP
IMS SWIFT gpi module handles all workflows for gCCT credit transfers, gCOV cover payments, gSRP stop and recall functions.

Duplicate Check
All incoming and outgoing transactions will be checked for duplicates based on pre-configured match criteria.

Compliance Check
IMS SWIFT gpi module have the ability to scan transactions against multiple sanctions lists or it can also connect to existing compliance engines to scan the transactions.

Status update via tracker MT199/API
Support for SWIFT tracker updates using MT199 or API calls.

Dashboard & Interface for operations
Our SWIFT gpi module comes with dashboards for tracking transactions based on stages, interfaces and controls for efficient operations. Module also comes with integration features for updating corporate customers with realtime updates.

Reconciliation of ACK, MT199, MT299 with the transaction
Single view of transactions with all the relevant messages including tracker updates and a complete audit trail.

Update source systems with UETR and status
All transactions coming from source systems will be converted with fully validated SWIFT messages and source systems can be updated back with UETR and real-time status updates.

API for real-time status update to source systems
The API that comes with this module can be utilized by source systems for a realtime status update.

Cash Management

Know your cash positions and balances for Nostro and Central Bank accounts at real-time.

Turn this service on as and when needed without having to engage additional services.

Request for balance and intra-day balance processing for need based queries.

Identifies end of day uncommitted balances at various banks and sends electronic instructions to move monies.  Notification by amount thresholds and cash distribution by batch process.

Define user specific rules for minimum balance requirements and for end-of-day schedules.

Reconciliation

Validate the bank’s cash positions and balances against counterparty’s books and records.  Utilize end-of-day statements.

Unmatched entries on instructions/statements will be notified to interested parties for investigations.

Features:

• Pair-wise views
• Set match parameters
• Aging Reports
• Request for Status
• Initiate Investigation
• Real-time Notifications
• Minimize operational risks
• Receive all type of data/files
• Excel, XML, CSV, Fixed Length
• Batch loads in any format

Corporate Payments

Instant onboard of corporate customers, accommodating all formats and protocols.

Support integrated payables and receivables workflows with all type of payment instructions bundled together.

Corporate Services

A friend of the corporate sector!  Allows the bank to offer a wide range of corporate services covering customer portals, approval cycles, exception handling, statements and reports.