PayConnect
A centralized payment processing solution
Monitor all payments on a real-time basis.
PayConnect is an integrated payment hub, developed by MindCraft, that integrates various domestic payment channels such as RTGS, NEFT and SWIFT with the bank’s CBS while providing centralized monitoring and governance across all channels. An operations console enables the bank to track, monitor, and audit transactions.
It provides end-to-end visibility & real time tracking, maintenance and management of messages, allowing delivery of Service Level Agreements with large customers. Its service-oriented architecture empowers the bank to integrate and enable STP of its core functionality with RTGS and NEFT gateways.
Key Benefits
- Payment Processing Made Simple - Reduced workload on operations team due to Straight Through Processing (STP)
- Improve Efficiency - Only ‘In-Error’ transactions need attention.
- Improve Scalability - Handle large volume of transactions.
- Clear Visibility - View end-to-end lifecycle of a payment transaction.
- Comprehensive Audit Trail - Track changes made during correction and re-submission of failed transactions.
- Flexibility To Regulate Timing - Control timing of bulk processing.
Key Features
- Integration with SFMS
- Beneficiary Account Number validation for inward messages
- Audit trail and message payload
- Rule based validations
- RTGS and NEFT service window management
- Daily transaction dashboard
- Facility to sign messages digitally
- Auto/Manual rejection of inward messages
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