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Payments

9.2 million+ transactions processed daily through our payments software

Payments

Supplier & Vendor Payment

FinnAxia supports a wide range of Payment mode and instruments which includes Electronic payments through IFT, EFT, RTGS gateways, Regional Payments, Instant Payments, Paper Based Payments through Cheques and Draft. The frequently paid suppliers and vendors can be registered by the customer for quick and secured payments to intended beneficiary.


Electronic Payments

FinnAxia provides facility to setup and process electronic payments for real time and near real time settlement. This includes Internal and external bank account transfer of funds. The system supports processing of IFT, RTGS, NEFT and SWIFT messages for end to end integration with bank's hosts and payment gateways. Support for additional message protocols can be done with minor customization.

Message gateway component of the payments software is a Centralized Hub that enables bank to have a centralized repository for release of electronic instructions. It provides real-time position for all incoming and outgoing payment instructions.

Key Features of FinnAxia payments


  • Any Payment Processing: Automated processing of ACH, RTGS, SWIFT and real-time payments with high levels of STP compliant with ISO20022 standards
  • Global Payroll: Provides comprehensive payroll services for companies that value flexibility, affordability and responsiveness
  • Statutory Payments: Federal and Local Body E-tax Payments Solution
  • Printing: Bulk Cheque Printing and Payment Advice
  • Forex: One-stop-shop solution for handling all kinds of multi-currency payments with connectivity to online FX rate providers
  • AML: Anti Money Laundering and OFAC controls
  • Visibility: Real time Payment tracking and Reconciliation
  • Alerts: On-time Alerts & Notifications enabling quick decision support
  • SOA Based Platform: Modular and layered architecture that provides a vendor agnostic model
  • Proven, Extensible Data & Processing Models:Allows for rapid implementation and faster rollout of new products and features
Bulk Cheque Printing

A comprehensive and robust printing application that supports Instrument and Advice designing, Inventory Management and Centralized and Remote Printing. The designer has a set of tools and grid controls powered by drag and drop facility to place the payment attributes placeholders on desired area of the artwork.

Printing Engine has following features:

  • Printer Set-up
  • Remote Printing
  • MICR band printing
  • Logo and Signature Printing
  • Capability to print signatures of the authorizer or of the signatories as defined in account rule based on amount slabs.
  • Printing Rule: Configure rule to forward instruments to desired printing locations basis various parameters like customer’s bank code, payment product, originating bank branch code, Dispatch / Clearing location code
  • View Printing Status
  • Exception Handling
Payroll Processing

System facilitates the user to design the salary slip formats as per the corporate requirement with necessary fields. After successful upload of a payroll file, system has the capability to generate pay slip as per the template designed.

FinnAxia

Corporates demand more convenience and tighter control over their finance so, banks need efficient systems to achieve full revenue potential from payment transactions. FinnAxia Global Payments is a value enhancing payment solution that enables banks to handle both low and high value payments of corporate such as vendor payments, salaries and tax payments.

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