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.
View a Treasurer’s Payments Journey
Discover how one corporate treasurer from a global company, Pharma, Inc., reduced complexity and overcame challenges by centralizing and standardizing payments with a payment factory. Follow his journey at our new interactive website, Where Payments Meet Life, which explores the future of payments technologies.
The 2017 Corporate Payments and Bank Connectivity Report
Download this market report to understand how corporations are using technology to navigate their payments and bank connectivity challenges and keep pace with the latest payments trends, such as real-time payments and open APIs.
Brochure – Centralize and Standardize Corporate Payments and Leverage Real-time Payments with FIS’ Trax Corporate Payment Factory
Download this informational brochure to see how FIS’ payment factory solution, Trax, empowers corporations to centralize and standardize payments while increasing controls, reducing fraud, lowering costs and increasing cash visibility.
Case Study – International Airline Automates Global Payments Processing
Read this case study to discover how a leading airline is relying on Trax to process more than 350,000 payments and 6,000 statements each month, reduce payment fraud and integrate with Quantum, SAP and banking partners via SWIFT.
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.
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.
Video – Simplifying the Global Payments Journey
View this video to hear FIS’ head of Corporate Liquidity and Bank Treasury discuss how corporations are navigating their payments journeys – and how their efforts are key to the success of their corporations.
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.
Infographic: Simplifying the Global Payments Journey
View this infographic to see how eighty percent of treasury and finance professionals have at least partially centralized payments according to a new FIS market study. Check out how they are tackling their payments challenges including lack of controls and cash visibility as well as payment fraud risks. Also discover how they are leveraging payment trends such as real-time payments and open APIs.
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.
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.
Major Global Airline Case Study
Read how a leading Airline is relying on Trax to process over 350,000 payments and 6,000 statements each month, reduce payment fraud and integrate with Quantum, SAP and banking partners via SWIFT.
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.
Case Study – Air France’s Payments Journey
Read this case study to see how FIS empowered Air France to implement best practices in payments efficiency and security, gain visibility into cash and increase control around their payments processing.
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 – all while improving service. FIS helps corporations automate payments reconciliation and matching across their enterprise, ensuring accuracy and timely settlement.