FinnAxia Digital Compass

Product Module Overview

FinnAxia Digital Compass is a delivery channel for bank’s customers, offering convenience to bank anytime and anywhere. It allows banks to provide easy access to information from multiple back-end systems as relevant data into a single customer view. It is an easy to use, robust solution that provides direct access to a comprehensive suite of transaction banking products developed for bank’s corporate customers.

FinnAxia Digital Compass is a secure solution with 2-factor authentication using a security token (RSA©, Vasco©, etc.), encrypted password storage, shields against hacking as per international standards, secure communication over the Internet using SSL (Secure Sockets Layer). Customers can personalize their user interface, dashboard widget as per their personal preferences.

We design, develop and configure computer hardware and software for banks and other organizations in the financial services industry.

Business benefits

Global fund transfer - Payments can be initiated from anywhere
Beneficiary advice for all payment types via email
Multi Country, Multi Payment Types, Transaction Initiation in multiple currencies
Forward value payment capabilities
Ability to print cheques in multiple bank branches

Features

Highly customizable Dashboard with role-based widgets
Responsive design for anytime anywhere access
Single window operations for Payments, Receivables, Liquidity Management and Supply Chain Finance
360 degree visibility of transactions enabling cash flow forecasting
Supply Chain Financing - Pre and Post Shipment Financing, Factoring & Reverse Factoring, Invoice Discounting and Financing
Shared Service Centre (SSC)/ Book transfer for cross border payments
Comprehensive Error handling and prevention
Instant payment/collection through proxy address- Account ID, National ID
Multiple Transactions (Own Account/ Subsidiary Account/ Third Party Account Transfers) executed in the same screen
AI- Based Transaction Anomaly Detection
Speedy Query Resolution through Chatbot
Customer Helpdesk with Audit Provision
Bulletin board to see broadcast messages and scheduled reports
Account Payable and Account Receivables Invoice Administration
Electronic Bill Presentment & Payment(EBPP), Electronic Invoice Presentment & Payment (EIPP)
Liquidity Management Structures - Creation, Visualization and Execution
Comprehensive summary of the corporates credit card transactions along with their trade and investment portfolio
Initiation of Direct Debit mandates
Account statement download in MT 940/MT942 and Camt53 format
- Real Time debit account validation and balance retrieval
Customer approvals for FX variations.
WhatsApp notifications
Integrated Chatbot
Forecasting of future payables, receivables and invoices

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Line of business covered

Driving Growth In Corporate Banking
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FinnAxia : Extensibility for Customers and Partners
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Open Banking – Threat or Opportunity?
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We selected FinnOne™, a flagship & award-winning product, to efficiently manage our clients and all monetary operations. FinnOne™ will surely help us build a competitive advantage and expand our reach in the Saudi Arabian market.

- Abbas Mohammed Al-Nahdi, Executive GM, Aqsat International
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