By: Finteq  11-11-2011
Keywords: Clearing House, Payment Clearing

SOLUTION 1 - 'A Payment is a Payment'..The Architecture of this solution is designed to allow for processing of any
type of payment, whether it be batch or on-line, using the principal of
'a payment is a payment'.All payments will be processed internally using the international open standard ISO 8583 or ISO 20022 formats, but the Transaction gateway and translator/formatter, will be designed in such a way that it can receive messages or files in practically any format, these inputs converted to the ISO standard formats for processing and then converted to the correct formats for relevant outputs.This will assist either a TPP or National Payment system operator to offer practically any form of payment service through architecture that:
  • is robust, efficient and highly available
  • can process payments through a single payment management system
  • can handle all types of payments, translate data from any format to any format and routes the payment data to the required destination
  • adheres to current propriety and open industry standards
  • is centrally managed in country and totally secure
  • offers adequate management of risk through a single reporting view of all payment streams
  • new payment streams can be introduced seamlessly with very little effect on participants.
  • installed in modules and addresses various payment streams (described below) into a single payment clearing and settlement provision solution:-
  • Electronic Fund transfer
  • Cheque, including image exchange for cheque truncation
  • Real Time Clearing
  • ATM
  • Debit Card
  • Credit Card
  • AVS
  • Electronic Voucher Distribution
  • Issuing

SOLUTION 2 - Image-based Cheque and Payment Processing..

Outward clearing

  • Should support either Central or distributed processing.
  • Capture an image of the cheque and deposit slips
  • Capture of financial record and credit required account.
  • Balance the transaction and creation of adjustments.
  • Create required outputs for:
    - Core banking system
    - Clearing house gateway
    - Image archive.
Inward clearing
  • Import of inwards clearing files
  • Technical and signature verification
  • Unpaid process
  • Create the required outputs for:
    - Core banking system
    - Image archive.
    - Un-paids
  • Report framework
  • Staff management and evaluation via reporting
  • Audit logging
  • Receive Direct debit/EFT files and generate outputs
  • Duplicate checking
  • Monitoring tools
  • Communications Engine, particularly for distributed capture

Keywords: Clearing House, Payment Clearing

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The advantages to the bank of creating operating efficiencies are as follows:- Reduced Clearing Costs- Reduced printing costs (Deposit Replacement Vouchers)- Increased customer service - Reduce capture- Decreased heldover costs- Reduced risk for both depositing customer and bank.- Reduced queries in respect of adjustments.