Improving security and reducing inefficiencies around business payments
Interfaced with legacy systems, which have historically proven to be far too lenient in the way data is shared and secured, organisations now require solutions that deliver both fast and secure payments.
The manual task of uploading payment files and managing the approvals process, in addition to increasing security issues surrounding the processing and protecting of sensitive payment data, is no longer acceptable.
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Financial technology [also known as FinTech], continues to improve efficiencies in the way payment data is processed and with this comes a far greater requirement to meet compliance and regulatory standards.
AccessPay can help you overcome this challenge
In response to this industry requirement, AccessPay have developed a solution that allows organisations to automate and manage the entire payments process, all within a single access secure environment.
Automate outgoing payments to reduce manual intervention, improve operational efficiencies and reduce costs.
AccessPay Approval and Compliance
Securing your payments life-cycle end-to-end with approval and compliance functionality for greater protection.
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Many organisations’ approach to payments processing is manual, with little or no validation in place, risk of data inaccuracy and inconsistency in confidentiality procedures.
- Unable to reject individual erroneous transactions
- No audit trail to check compliance with company policy
- No controls in place to detect fraud
- Difficulty when segregating files
- Manual process driven payment life-cycle
- Value based approval only
To address these challenges, AccessPay have developed a business payment automation solution, underpinned by a secure approval and compliance framework.
- File integrity checker with error and warning reports
- Ability to continue processing file by suppressing individual erroneous transactions
- Full audit trail in compliance with company policy
- Automated process with straight-through-processing
- Fraud detection and notification built into every step
- Strict controls around setting up new beneficiaries
- Smart card, biometric verification and HSM options provide secure authentication