Simplify Payment Submissions
Often your commercial and even your smaller, tech-savvy business customers have more than one back-office system responsible for initiating payments to your bank. The payment instructions can vary widely and might direct your bank to process a certain payment type, such as a wire or cross-border payment, or serve a particular function like fulfilling payroll, paying vendors through an A/P system, or managing a proprietary payment type. Without a more efficient method to originate those payments, your customers are stuck with a manual, error-prone process that can be costly.
Help drive efficiency to your commercial customers through an automated payment solution with Payment Automation, a feature of Bottomline’s Commercial Digital Banking platform. Payment Automation allows your commercial customers to originate large volumes of payments at scale and send to your bank securely through a single file regardless of payment method or business purpose. All this happens with the same payment controls and approvals your business customers have in place today.
Payment Automation connects your commercial customer’s back-office applications directly to your bank’s infrastructure without the need to manually intervene or upload multiple files. And because it is integrated with the Commercial Digital Banking platform, it provides another way to deepen engagement with your most valuable customers.
“What is critical heading into this next phase for all banks, regardless of where they are on the modernization journey, is to incorporate automation tools and real-time payment capabilities.”
A Robust Set of Payment Features
- Seamless connectivity with no need for manual file formatting changes
- Full payment visibility through payment lifecycle status monitoring
- Access security so customers only access and transact against the accounts they are entitled to
- Administrative control over payment auto-approval, review and/or authorization, with optional multi-factor authentication
- Transaction and daily limits to enforce appropriate credit authorizations
- Exception handling for special processing and cutoff time enforcement
- Payment fraud detection and prevention with case management for forensic investigation for all payment types
- Reporting and reconciliation of CSV, NACHA, ISO20022, and proprietary formatted files through corporate systems
- Quick implementation through lightweight SFTP-based bank host integration
- Multi-channel approval capability via web or mobile device
Get rid of inefficient error-prone and complex payment methods with Payment Automation and start winning more strategic commercial customers.
