Payment Factory

Although standardizing and centralizing payment workflow is a key practice in the prevention of fraud, most large corporations have not done so. Further, they are bypassing significant cost savings. For corporations with complex payments requirements, FIS™’ payment factory or payment hub solution, Trax, provides best-in-class payments and account statements processing capabilities. Corporations can lower costs, reduce fraud, increase operational efficiency and controls while gaining global cash visibility.

  • Centralize payments for improved visibility and control.
  • Mitigate risk of fraud and errors.
  • Handle all payment types – Domestic ACH, domestic wires, cross border payments, and direct debits, either imported from other systems or manually created.
  • Easily reconcile payments.
  • Securely, reliably and cost-effectively outsource all aspects of the management of your bank connectivity.



Bank and SWIFT Connectivity

Outsource Management of Your Bank or SWIFT Connectivity and Focus on Other Priorities

Outsource to FIS, certified by SWIFT as a premier service bureau. With 45 percent of companies relying on 10 or more cash management banks, operational costs and risk can spiral. Even corporations with limited banking partnerships struggle with installation, maintenance and integration. FIS™ can help you securely, reliably and cost-effectively outsource the management of your bank and SWIFT connectivity.

  • Eliminate the complexities of bank and SWIFT connectivity with a single, bank-neutral platform that interfaces with treasury, payments and eBam solutions, as well as ERP systems.
  • Increase efficiency by minimizing manual processing and gaining onboarding and administration services.
  • Reduce operational costs.
  • Mitigate risk while achieving compliance with complete audit trail and reporting capabilities.
  • Achieve flexibility with the ability to connect via SWIFT, EBICs, APIs and secure FTP.
  • Gain a central library for transformations/formatting.

Cash Visibility

Gain Real-time Visibility into Cash for Improved Cashflow Forecasting

Cash visibility is a critical challenge that corporate treasurers continue to face, particularly when it comes to payments. FIS’ payment factory solution, Trax, centralizes data across disparate systems into a single solution for improved visibility into cash. Trax translates payments into cash flows, typically on an aggregated basis, and sends these cash flows to the relevant cash management systems. Additionally, in a centralized cash management setup, Trax can route payments over a set of centralized banks accounts using in-house bank structures.

  • Centralize data into a single view of cash.
  • Improve cashflow forecasting.
  • Gain real-time cash visibility.

Fraud Prevention

Reduce Payment Fraud Through Increased Controls

Payment fraud is on the rise, and 54 percent of treasury and finance professionals view at as a top challenge. Without the proper controls in place, corporations are at risk for payment fraud, particularly from an internal employee. By centralizing data into FIS’ Trax payment factory solution, payment workflows can be handled from beginning to end through comprehensive functionality that offers validation, enrichment, multistep authorization, formatting and routing. Trax flags suspicious transactions as possible fraudulent payments.

  • Automate and drive workflow for improved controls.
  • Validate, enrich, authorize, format and route payments.
  • Reduce payment fraud.

In-house Banking

Optimize Payments Processing with In-house Banking Structures

An in-house bank within a corporations’ treasury center acts as a bank for its subsidiaries. Having visibility into payments leaving the organization is more crucial than ever. FIS’ Trax payment factory solution can serve business units by processing all their payments, while the in-house bank takes on responsibility to execute the payments on behalf of the business units. Trax can route payments over a set of centralized banks accounts using in-house bank structures, while feeding the intercompany positions typically managed in intercompany systems or TMS IHB modules.

  • Enhance cash visibility.
  • Centralize payment services so that the subsidiaries prepare payment details and then transfer that information to the center, which acts as the paying agent.
  • Transfer funds on behalf of the subsidiaries.
  • Update intercompany accounts in intercompany ledger.

Internal Controls

Standardize Processes and Increase Internal Controls and Audit Compliance

Disparate processes and technology lead to a lack of internal control. By implementing FIS’ Trax payment factory solution, corporations can centralize data into a single solution and standardize processes, helping treasurers increase visibility and control over outgoing payments.

  • Centralize data.
  • Standardize processes.
  • Increase controls.
  • Gain audit compliance.

Payments Intelligence

Track and Measure KPIs

By centralizing all payments and statements in a central hub, FIS’ Trax payment factory collects a wealth of information across banks, business units, regions and payment types. The Trax data mart module helps treasurers and controllers to interpret the transactional information using a multidimensional analytical model and tools.

Benefits:

  • Gain business insight across all transactions processed by all banks.
  • Accurately measure KPIs.
  • Access crucial data including transaction and volumes by bank.
  • Negotiate better bank fees.
  • Analyze data for better banking contracts.

Reconciliation

Automate Payments Reconciliation for Greater Transparency and Lower Costs

Payment and Bank Connectivity_Reconciliation

By deploying a payments reconciliation strategy around B2B payments processes, organizations can benefit from greater process transparency, reduced process cost, lower total cost of ownership and eased administrative burden, while improving service. FIS helps corporations automate payments reconciliation and matching across their enterprise, ensuring accuracy and timely settlement.

  • Automate the matching of any instrument and receive and ingest messages in any format including SWIFT messages and standard or proprietary messages.
  • Improve operational efficiencies through automated payments reconciliation.
  • Reduce costs.
  • Reduce operational risk.