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.
The ICS BANKS Remittances system offers a variety of functionalities and features, such as powerful customisation and personalisation tools, flexible and innovative Business Process Management (BPM), Document Management System (DMS), and cutting-edge technologies, to indulge its customers with the opportunity to 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, advice and voucher generation.
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 the Universal Confirmations rulebook. ICS BANKS Remittances simplified the process to its customers by formatting and building MT199 automatic confirmation messages, and sending them directly after crediting the beneficiary or rejecting the payment.
ICS BANKS Remittances provides its customers with two options of confirmation; Mandatory and Optional confirmations. The system automatically sends the status for each payment received via SWIFT MT 103 “customer transfer”
ICSFS uses innovative technologies in the core of its products, develops first-class, dynamic, and future-proofed banking and financial products for new business trends.
ICS BANKS® products come with high security, scalability, and flexibility.