Be safe – increase control of your outward payments process

Improve accuracy and efficiency for the electronic transfer of money by automating your outward payments process

In a world growing ever more reliant on constantly interconnected digital networks, the automation of financial transactions is inevitable. But while personal transactions via digital methods have become second nature to all of us, it is not a given that everyone is comfortable with fully automating certain transaction processes.

However, there are several advantages in automating your outward payments process, which are worth considering if you want to make these transactions both safer and more efficient for you in the long run.

AXON Outward Payments enables banks to process outward payments more efficiently. This is achieved through an automated mechanism for the electronic transfer of money from account holders to other financial institutions or across multiple institutions, via computer-based systems.

A safe solution

Locating an adequate outward payments solution for your business adds yet another layer of security to your banking transactions. First of all, such a system by necessity reduces human error, and by extension, traces any incompetence that might come into play. Secondly, a proper outward payments solution includes robust monitoring and reporting mechanisms, which will put you at ease while transactions are executed.

In fact, AXON Outward Payments automates the entire outward payment process with limited or zero direct intervention of bank staff. This solution ensures a robust integration payments service that can monitor, alert, and report transactions, along with managing approvals – delivering a seamless, automated, and secure outward payment solution for SEPA and SWIFT.

Optimise your current outward payment system

AXON Outward Payments allows you to interface your outward payments with a single payment service, such as SEPA. The solution also allows you to securely monitor, validate, and approve outward payments through the SWIFT network. Likewise, AXON Outward Payments integrates with internal banking applications in order to extract customer and account information, and execute the necessary bank account transfers.

Automate payment checks and flag validations

AXON Outward Payments can be configured to include various payment checks and validations including all the standard IBAN and BIC checks. Furthermore, the solution can perform other advanced checks such as beneficiary monitoring via access to PEPs, watch lists, or nominated payees lists – providing a robust workflow automation which enables banks to be more flexible. Additionally, AXON Outward Payments executes validation checks and flags any abnormalities, ensuring that suspect payments are held until they are reviewed by a designated bank employee. AXON Outward Payments is an agile solution which is crucial to the outward payment process.

It will make your staff happier

While the overseeing of outward payments may superficially create another task for an employee to jump on and gain some work hours out of, in the long run it simply boils down to yet another monotonous task that is bound to give very little satisfaction to the employee in question, and result in squandered talent for the business as a whole.

With this in mind, automating your outward payments ensures you have more options when it comes to allocating the right tasks to the right staff members – while utilising AXON Outward Payments to streamline and optimise your outward payments process.

Learn more about the AXON Outward Payments solution