Remittances

The rapidly changing payments industry requires businesses to stay alert, react quicker, and perform better. With new banking technologies continue to surge ahead, banks around the world are pushed to invest heavily into implementing new ways in which they can manage their operations, connect with customers, promote their services and stay ahead of the competition. ICS BANKS Remittances is a universal payment and money transfers solution provided to meet ongoing information processing innovation and management challenges facing the banking and payment industry today.

Innovation as a Core Function

 

• Process automation

• Open Banking; open solutions through open APIs architecture 

• Complete cloud platform 

• Enriched customer service and experience

• Unification of all digital systems – omnichannel experience

• Dynamic products for new business trends

• High security, scalability, and flexibility

• Improved efficiency to drive business agility

• Continuous technological advancement with lower TCO

• Vast business coverage to assist the full cycle of transfers 

• Future-proof money transfer process whether within the country or outside

 


 

 

Part of the crew…Part of the bank

The ICS BANKS Remittances system offers a variety of features and modules within its state-of-the-art ICS BANKS Universal Banking Software Suite, such as powerful customisation and personalisation tools like extensive number of parameters, flexible and innovative Business Process Management (BPM), Document Management System (DMS)l and cutting-edge technologies, to indulge its customers with the opportunity to pay or transfer money automatically in real-time, with the ability to track and confirm the payment through its STP processes and online settlement functions. ICS BANKS Remittances provides complete automation of SWIFT messages and RTGS processing, advices and vouchers generation.

ICS BANKS Remittances covers the following functions:

  • Inward Transfers
  • Outward Transfers
  • Direct Transfer
  • Traveller’s Cheques
  • Blockchain
  • Agency Banking
  • Embedded Business Process Management (BPM)
  • Embedded Document Management System (DMS)
  • Cardless Payments
  • Smart Contracts

 

 

 

Universal Payment Confirmations for SWIFT MT103

SWIFT announced that by the end of 2020, it will be mandatory for all financial institutions receiving payments (MT 103 messages) to confirm when a payment has been credited to the account of the beneficiary. ICS BANKS Remittances is ready and complies with Universal Confirmations rulebook. ICS BANKS Remittances simplified the process to its customers by formatting and building MT199  automatic confirmation messages, and sending it directly after crediting the beneficiary or rejecting the payment.

ICS BANKS Remittancess provides its customers with two options of confirmation; which are  Mandatory and Optional confirmations. The solution automatically sends the status for each payment received via SWIFT MT 103 “customer transfer”.

 

 

 

For further information about ICS BANKS® Remittances, please do not hesitate to contact us at contactus@icsfs.com

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