OnView Payments Manager

Transcription

1 OnView Payments Manager Link All Points of Presentment for Straight Through Processing LINK ALL POINTS OF PRESENTMENT WITH ONVIEW PAYMENTS MANAGER ONVIEW PAYMENTS MANAGER FEATURES: PAYMENT PROCESSING SERVICES, DATA PERFECTION, IMAGE EXCHANGE, FRAUD RISK REDUCTION, REPORTING, BUSINESS RULES AND ADMINISTRATION FUNCTIONALITY MANAGE ALL OPERATIONAL TASKS THROUGH ONE PORTAL

2 ENRICHING EFFICIENCY of our customers operations through CONTINUOUS INNOVATION V IRS.2

3 ONVIEW PAYMENTS MANAGER Financial Institutions can leverage Straight through Processing by replacing their legacy systems with a single unified platform. OnView Payments Manager accepts payments from all channels, including third party solutions, to enable payment processing services, operations management, reporting, and monitoring. Collapsing multiple fragmented legacy systems with one tightly integrated platform eliminates a significant amount of custom code. It also reduces environments that have to be maintained as well as duplicate information across segregated systems. VSoft s OnView Payments Manager links all points of payment to enable straight through processing. A full complementary suite of products facilitate payment processing services, data perfection, image exchange, fraud risk reduction, reporting, and administration functionality. The application s open architecture includes business operations, rules and workflows, and data integration. Unlike siloed solutions where data entry, duplicate detection, review and output file generation are fragmented across multiple systems, OnView Payments Manager handles all of these tasks within a single platform. By consolidating siloed solutions, financial institutions benefit from reduced back office staff, database infrastructure, and IT management staff. Key benefits include: LINK DEPOSIT & PAYMENT CHANNELS OnView Payments Manager links all points of presentment to enable straight through processing. EASE OF ADMINISTRATION Single Platform approach allows financial institutions to setup and manage business rules in one place that can be applied to deposits and payments across all channels. USER MANAGEMENT OnView Payments Manager allows you to manage the authentication of users from branches, home/small offices, merchant locations, and mobile devices. INFORMATION DISPLAY Our unique Digital Dashboard displays a comprehensive set of information from all your points of presentment in an easy-to-digest format. This valuable data can be used to evaluate how well the distributed capture network is performing and to determine how operations can be optimized. BUSINESS RULES Provide consistency between transaction item types, and also fine tune to the unique needs of your distributed capture locations.

4 ONVIEW PAYMENTS MANAGER SYSTEM ATTRIBUTES OnView Payments Manager features Cash Letter Control, which allows financial institutions to exchange electronic cash letters (ECLs) with images directly or through exchange organizations. The application gives institutions the ability to define the ECPIX endpoints with conventional endpoints. Additionally, the system maintains a complete history and audit trail, time-stamping each of the incoming and outgoing files along with the source and destination of each file. Adept monitoring and reporting capabilities are built into the system to ensure each transit item has been placed into a cash letter. A variety of reports are available. For example, the financial institution can identify which cash letter a particular item has been placed into or can summarize all cash letters sent to a particular endpoint. Data Perfection features Amount Entry, Reject Repair, and Balancing. Amount Entry facilitates improved throughput with two-up keying. Image manipulation and snippet keying tools provide enhanced usability. Reject Repair focuses on fields requiring correction, and provides on-screen or audible reasons. Batch Balancing provides extensive tools, such as moving items, inserting virtual adjustments, and requesting item re-scans, to facilitate transaction and batch balancing. Data perfection provides high-speed data correction and completion all while reducing downstream rejects and the cost of research associated with adjustments. OnView Payments Manager includes Risk Mitigation measures such as Enterprise Duplicate Detection, a Risk Review Queue, and integrations to leading third party fraud prevention products. Duplicate Detection helps guard your institution from the impact of processing duplicate items by using a consolidated database to identify potential duplicates. OnView Payments Manager allows Institutions to set customizable review and hard limits to minimize risk and fraud. The Risk Review Queue allows administrators to monitor the queue while providing a feature rich interface for reviewing and adjusting transactions. The Intelligent Repair Image System acts as a virtual operator, enhancing the read rates of MICR codelines in real time. Intelligent Repair Image System re-orients items fed into a scanner backwards or upside down and reads the codeline. This greatly reduces physical exceptions that branch personnel have to handle. Image Code Line Verification applies Intelligent Character Recognition (ICR) to optically read the codeline of images and compare it to the related data stream to ensure they are in sync. Mismatched items are filtered for correction, eliminating inaccurate codelines and the tedious research and reconciliation processes they create.

5 MONITORING AND REPORTING One key element of the OnView Payments manager is the Digital Dashboard, a real-time, enterprise-wide monitoring OnView Payments tool that keeps Manager knowledge provides and Financial control in your hands even though capture is widely distributed. The Institutions Digital Dashboard the resources includes they drill-down need to make technology, allowing both a broad view and quick access to underlying performance-based details through and cost-benefit minimal clicks. decisions The identification of offline sites, exception files, or deposits that have for their exceeded operations established and business thresholds lines. is facilitated through the VSoft single view provides of the Dashboard. the exact Access to Digital Institutions Dashboard will benefit is enabled from through powerful Roles reporting and Permissions within technology our unified we platform, were so looking only authorized for. Its users functionality will enjoy that the includes power and summary information reports, it provides. graphical representation of data, and drill-down technology that provides supporting details. VSoft s Digital Dashboard enables the bank to monitor real-time check processing activity across the entire enterprise. All capture channels are tracked and volumes, amounts, and items are graphically displayed. Back-office operations can monitor all branch operations remotely, including file transmissions. Furthermore, exception items are identified so they can be addressed in sufficient time to allow for milestone processing mid-day or at the end of the day. Access to the Digital Dashboard is enabled through roles and permissions within our unified platform, so any authorized users can enjoy the power and information it provides. comprehensive suite of solutions delivers the features and functionality that meet our needs, and we are confident that VSoft will better prepare us to handle increased volume with the utmost efficiency during our time of rapid growth. Kirby Shroll, EVP of Bank Operations Great Western Bank

6 STREAMLINED WORKFLOW VSoft s OnView Payments Manager consolidates previously siloed systems into a tightly integrated system. This integration provides seamless information flows across functional areas. OnView Payments Manager relies on a comprehensive set of business rules to control the receipt, processing, and onward transmission of all payments. Your financial institution creates these rules so that your needs are met in an automated, controlled, and secure manner. PAYMENT PROCESSING SERVICES Institutions can leverage VSoft s payment processing services regardless of payment channel. As payments are accepted into the Payments Manager, additional services such as Virtual Sorter, Duplicate Detection, Intelligent Repair Image System, and ICLV are performed for straight through processing. MONITORING The Digital Dashboard, a real-time, enterprise-wide monitoring tool keeps knowledge and control in your hands even though capture is widely distributed. Drill-down technology, allows both a broad view and quick access to underlying details through minimal clicks. DATA PERFECTION Financial institutions benefit from Data Perfection tools for all payments from any point of presentment. Data Perfection features high speed amount entry, image reject repair, balancing, and snippet keying. EXCEPTION HANDLING OnView Payments Manager facilitates exception handling through the use of Duplicate Detection, which interrogates work from both over-the-counter, proof of deposit, and inclearing workflows to identify potential duplicate suspects. VSoft also has a number of interfaces to industry leading third party fraud solutions. REPORTING Reports are included in OnView Payments Manager to provide a consolidated view of all payment activities. Some of the system reports include: Billing Summary Reports, Role Audits, Successful Login Report, Consolidated Application Report, Consolidated Proof Report, Daily Item Total, Cash Letter Recap, Duplicate Items, as well as many more. IMAGE EXCHANGE OnView Payments Manager offers image exchange flexibility, allowing multiple exchange partners, multiple endpoints, and the ability to implement intelligent cost-based routing and multiple cash letter generations in a single day, if desired. Adding new endpoints is a user-driven activity and can be implemented easily.

7 Consolidate multiple vendor products by converting back office operations to a tightly integrated back office platform. By eliminating these multiple vendor products, the bank will significantly reduce complexity and bring efficiencies & cost savings to both the operations and IT groups. Branch Teller Consumer ATM In-clearings Central Capture Merchant Mobile Remit/Lockbox ONVIEW PAYMENTS MANAGER PAYMENT PROCESSING MONITORING DATA PERFECTION EXCEPTION HANDLING REPORTING IMAGE EXCHANGE Duplicate Detection Virtual Sorter IRIS ICLV Digital Dashboard High Speed Amount Entry Image Reject Repair Balancing Snippet Keying Duplicate Detection Third Party Risk Interfaces Product Reports Security Reports Roles Reports Cash Letters All Item Extract x9.37 File Loads FEATURES Connectors address various points of presentment. Supports image, data, and electronic cash letters. Authentication management of users for Branch Deposit, Teller Deposit, ATM Deposit, Home Office Deposit, Business Deposit, and Mobile Deposit. The Digital Dashboard provides the real-time information that managers need to make performance-based and cost-benefit decisions about your operation. Powerful reporting features generate the summary reports, graphs, and tables as well as the supporting detail. Third Party interfaces to risk management solutions. BENEFITS Manages all points of presentment. Provides real-time insight into operations, so you can optimize your transaction processing costs. Provides processing consistency from all points of capture to final item resolution. Easily expands to add remote deposit capture users. Adaptive technology accommodates emerging remote deposit capture solutions.

8 As millennials quickly become the majority of banking customers and shape consumer expectation, financial institutions must invest in an omni-channel platform like VSoft s IRIS to remain relevant and competitive. Millennials are much more likely than previous generations to switch financial institutions, making it imperative to provide a digital banking experience that not only delivers complete convenience through any device, but can keep pace with the rapidly evolving technology landscape and quickly adopt new products and services. Failure to do so could turn customers away, putting your other services at risk. For more information or to speak to VSoft about its IRIS Omni-Channel Platform, please visit or call About VSoft VSoft Corporation offers platform-based services for the banking, financial services and insurance (BFSI) industry. Its core, payment and digital banking solutions reduce cost and maximize efficiency while providing seamless, real-time, high-volume and high-performance transactions across multiple channels. The VSoft platform can be delivered in-house, or as an outsourced ASP or SaaS model to best meet the needs of individual financial institutions. VSoft s services have been trusted by more than 2,600 financial institutions worldwide. For more information, please call , or visit or follow us on