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Global Receivables

Installations across 22+ countries

FinnAxia Global Receivables

Product Module Overview

FinnAxia Global Receivables Management provides a comprehensive set of features geared to manage bank’s corporate customers’ receivables needs. Global Receivables solution facilitates banks in defining flexible collection products based on corporate banking operating model, thereby, ensuring optimum fund consolidation viz; Cheques, Cash, I-ARMS, Invoices Matching, E-Receipts, Virtual Accounts and Direct Debits (Physical & Electronic). The solution is based on Java J2EE with web services to connect to multiple host systems for a seamless and integrated view.


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

  • FinnAxia

Business Benefits

  • Reduced operating costs and enhanced operational efficiency.
  • 360 degree account position view; balance consolidation.
  • Flexible product definition; segmented products
  • Reduced business risk by working capital optimization
  • Seamless integration with downstream systems
  • High business opportunity; multiple channel support

Features

  • Flexible and parameterized banking solutions facilitating tailor-made offerings
  • User driven business rule definition using Product Derivation Rules
  • Multi-country, currency, lingual, legal vehicle, channel, time-zone, browser
  • Direct Debits collections support via physical mandate and electronic mandates
  • Cash Collections with denominations
  • Collection and reconciliation with virtual accounts
  • Cheque Collections - With CDC-PDC management and Arrangement based credit for customer
  • I-ARMS - With full and partial reconciliation facilities
  • Wholesale Lockbox
  • Payout Customer and Coordinator facilities
  • E-Receipts & Virtual Accounts
  • Credit Line Monitoring through Risk Manager
  • Dynamic billing (GST enabled)
  • Dynamic Accounting (Centralised & Branch Level)
  • File Format manager - With various Uploads and Downloads options
  • Alerts for various business partners – Banks , customers and Payers
  • Report scheduling (Incremental and consolidated) with password configuration options
  • Rich MIS for various business groups like profitability, volume, pricing, collection reports
  • NPCI compliant Direct Debit Mandate capabilities via both physical and electronic forms
  • NACH Debits   
  • Configurable Accounting and posting facilities with advance Consolidation and Narration options
  • Support of inward NEFT, RTGS and IMPS transactions along with virtual accounts
  • Configurable Transaction download – can be used as clearing download, feed to ERP etc.
  • Centralized accounting for Parent – subsidiary relationships
    1. Inward TT (FCY Transactions)
  • Bill amount segregation to multiple accounts (Customer or Virtual account or GLs)
  • Payout functionality enabled for all transaction types,  Cash, Paper and Electronic
  • Payout generation from customer's account or bank GL account
  • System Bank Mandates Processing via NPCI
  • Sudden Holiday handling, credit postponed to next business date
    • Bill Collection - Integration with customer ERP and manual entry of bills by bank user for non ERP customers
      • Fund segregation with bill collection which enables credit to multiple accounts (real or virtual) with segregated amount