PAYplus Connect - Wire Transfer Service Bureau

PAYplus Connect is a powerful and comprehensive wire transfer service bureau solution that is suited for financial institutions requiring a more cost-effective approach that also enables straight-through processing, risk and audit mitigation and ongoing customer and technical support. Real-time integration to any cash management or accounting system allows for complete automation and reconciliation, and web-based interface options make deployment and use by remote branches, departments and corporate clients easy and quick. The service bureau further provides the critical disaster recovery, expertise and support many banks need to ensure smooth operations for their bank and customers.

Best-of-Breed Payment Technology and Service Bureau Provider With the merging of BankServ with Fundtech, clients can now benefit from the combined technology and service offerings of both companies. The result is a best-of-breed automated wire transfer solution that leverages a robust technology engine and service bureau offering, as well as our combined expertise and experience in deploying and supporting this solution now and into the future.

This end-to-end outsourced and managed solution also provides the critical disaster recovery, SAS70 Type II certification and a staff dedicated to service bureau operations required to ensure smooth, secure and reliable operations. All upgrades, system monitoring and support services are already provided, thus allowing your IT staff to focus on tasks critical to the operation and growth of your bank operations.

Robust and Future-Proof Technology Platform

The Fundtech automated PAYplus Connect engine enables clients to meet increased volume and customer demand, while reducing costs and enabling straight-through processing (STP) and better risk/compliance mitigation. Web-based tools enable quick, easy and cost-effective deployment to remote branches, departments and client users, thus enabling financial institutions of all types to attract and set-up new corporate clients faster. Clients find that STP can become more of a reality through easy integration with existing accounting, cash management, lending and other key systems coupled with advanced automation and risk mitigation tools, prebuilt into the system. As industry or Fed requirements change, Fundtech is committed to upgrade and adapt our technology to include the tools and technology required to keep our clients competitive, secure and cost-effective.

Advanced Risk and Compliance Mitigation Capabilities

Integrated OFAC and data filtering tools allow clients to screen all incoming and outgoing transactions against a variety of regulatory watch lists and requirements, thus meeting internal audit requirements and allowing financial institutions to straight-through process more outgoing, and incoming, transactions. This greatly eliminates the need for manual processing and allows resources to be redeployed to more critical functions within the organization. STP also allows for more transactions to be processed, faster and more cost-effectively.

Integrated FX and International Payments Processing

The optional International Payments Module for PAYplus Connect is your single point of entry for domestic and foreign wire needs. Quickly and easily add foreign exchange and international wire transfer capabilities without expensive third-party hardware and software.

Through partnerships with leading FX providers, Fundtech’s fully integrated foreign exchange product allows non-SWIFT member financial institutions to negotiate and deliver SPOT foreign currency transactions in real-time. Fundtech offers a streamlined exchange process that does not require users to “toggle” between two different systems and through our FX partners, provides competitive wholesale rates for all major currencies. All foreign exchange transactions are handled online, to allow timely processing and immediate rate acceptance and confirmation. With the ability to lock in conversion rates at the time of transaction, your customers will know the exact foreign amount to be delivered to the beneficiary bank. The bottom line: Your financial institution can increase transaction revenues through lower and more competitive exchange rates and integrated rate markups, and with the ability to build in transaction margins, you can realize the conversion revenue instead of allowing foreign institutions to collect it for themselves.

Unmatched Customer and Technical Support

Fundtech provides customers with real-time assistance and support during Federal Reserve hours. Our Help Desk is just a phone call away. Our Operations staff proactively monitors the status of your system and identifies potential problems to facilitate immediate resolution. With a per-employee average of over 20 years of wire transfer experience, and direct access to telecommunications, development and hardware/software technical support Fundtech’s seasoned wire operations staff can address all of your technical and product functionality questions and needs.

Your customers will also receive timely notification of their wire transfers through flexible user-defined automatic notifications of incoming and outgoing wires via fax, email and statement advices. Customers can also initiate and monitor their own transactions using remote entry.