08 Dec Psi Payment System
Building an automated system around payment processing represents a conceptually new approach to the organisation and support of the bank’s business processes.
It is an optimal solution for banks working with a multitude of payments and external payment processing systems, with a broad network of correspondent accounts and/or branches, and a variety of technological chains aimed at payment processing within the bank.
Psi Payment System
– an automated payment processing system, effectively compatible with other banking systems and networks, provides a complete payment processing cycle and acts as a central dispatcher. Based on pre-established payment processing rules, the Psi Payment System coordinates the work of other systems – components of the integrated bank’s IT environment.
Key system functionality provides:
- automated processing of various payment types;
- user interface, optimized for payment processing tasks;
- payment verification at all stages of the processing;
- monitoring of the currency position;
- combination of a rigid scenario and flexible selection of a solution when processing non-typical situations;
- representation of accounting rules;
- built-in routine reporting;
- data exchange with external systems and databases;
- use of transparent technologies – representation of the business logic as a set of decision trees;
- ХМL/XSLT – standard for external interfaces and internal structures.
Broad system functionality and flexibility typically brings the following capabilities and potential benefits:
- processing of large quantities of payments, operations and services;
- a reduction in the number of mistakes, caused by manual processing;
- automated collection of commissions on payments and services;
- an extension to the bank’s range of services, making it possible to run complex settlement schemes and commission types;
- simplicity and flexibility of integration with other systems;
- a structured, transparent landscape of the automated operations;
- improved cost/quality ratio of system operational support.
Flexibility and ease of system set-up allows the Psi Payment System to be adapted to introduce and serve virtually any automated payment processing task, for example:
- standard, automated transactions such as utility bill payments, loan repayments, complex payment flows requiring specific analysis and pre-processing;
- customised complex payments such as payroll projects, loan instalment processing, predefined payment acceptance schemes by the client’s delegates.