Bernard Matthewman, Group Managing Director –
Paynet and Jan Mohammed, Managing Director –
Imperial Bank, review the Corporate Payments agreement
document. The bank has outsourced these services
to Paynet Kenya.
Paynet Corporate Payment Solution
The following transaction solutions are included in the Corporate Payment Solution Service:
Salary Payments Replaces the current paper and diskette exchange of financial data between organizations with an electronic transfer via a secure dial up facility.
Trade Payments (supplier, creditors, farmers, etc) This module allows the sender to electronically request payments to be made, replacing the costly origination and processing of cheques.
Bank Statements Regular or intermittent bank statements can be requested via Paynet and interfaced directly into existing accounting packages for automatic bank reconciliation.
Electronic forms
Direct Debits A solution allowing organizations originating debit orders to transfer debit order requests electronically to financial institutions.
The model of delivery is for Paynet to provide an outsource service including free software on site for corporate end users, plus technical, marketing, training and customer support. It is generally accepted that Paynet provides outstanding support in the two markets it operates for this product and this differentiates the Paynet solution from any competitor product where the typical sell-and-run methodology mostly still exists.
Benefits of Corporate
Payment Solutions
Security
All
financial data transmitted is scrambled
using world class
encryption technology
Accuracy
Data
is validated before it leaves a customers
computer so that most common errors are
avoided entirely
Speed
Data
is transmitted directly from your computer
via a dial-up store and retrieve facility
to the recipient financial institution
Efficiency
Paynet eliminates time wastage and reduces errors associated with paper processing and recapture
Management
Paynet software provides customers with
the tools enabling them to easily manage
their interaction with the bank
CustomerService
Paynet presents opportunities for improved customer services. Standard response messages inform customers of the receiving and processing of important transactions. It also allows for simpler and tightly controlled reversals and amendments.
StandardPlatform
A
standard platform for undertaking transactions
is provided for both the bank and the
customer.
Auditability
The
service provides full audit trails for
the flow of all messages
