Payment
Check Outsourcing Services
Check Outsourcing Services, a component of PSSIB's Payment Solutions, provides customers with an efficient way to send electronic instructions for bulk issuance of paper instruments through or by bank. Both domestic and international paper instruments in locally cleared or foreign currencies are supported via the various payment types available. Instructions can also contain information pertaining to dispatch instructions for the physical instrument, as well as enriched payment details for sending beneficiaries as part of the COS payment advice, plus the advice to appropriate recipients of your choice via the advising engine.
The objectives of COS are to implement a paperless cheque clearing process, achieve a common day hold throughout the nation and increase the efficiency of the clearing and settlement process. Customers and businesses will benefit from the faster and more efficient cheque clearing system, especially in the timing of the availability of funds from the deposit of outstation cheques.
Key Check Outsourcing Advantages
Maintain control of your financial document process by directly submitting, managing and reviewing all payments. Encryption is used when data is transmitted and/or archived.
Stay in control of the entire process through a web-based interface that is easy to use, and gives you the ability to submit payments, track payments, verify results, manage problems, and generate reports.
Avoid the cost of expensive printing and finishing equipment. Avoid the ongoing maintenance and labor costs required to run a print center. Save additional costs by leveraging postal sorting and cleansing operations.
Designate where all of your payments will be delivered through pre-defined instructions. Grouping payments destined for various locations is as easy as designating the carrier for each location.
Check Outsourcing Services, a component of PSSIB's Payment Solutions, provides customers with an efficient way to send electronic instructions for bulk issuance of paper instruments through or by bank. Both domestic and international paper instruments in locally cleared or foreign currencies are supported via the various payment types available. Instructions can also contain information pertaining to dispatch instructions for the physical instrument, as well as enriched payment details for sending beneficiaries as part of the COS payment advice, plus the advice to appropriate recipients of your choice via the advising engine.
The objectives of COS are to implement a paperless cheque clearing process, achieve a common day hold throughout the nation and increase the efficiency of the clearing and settlement process. Customers and businesses will benefit from the faster and more efficient cheque clearing system, especially in the timing of the availability of funds from the deposit of outstation cheques.
Key Check Outsourcing Advantages
Maintain control of your financial document process by directly submitting, managing and reviewing all payments. Encryption is used when data is transmitted and/or archived.
Stay in control of the entire process through a web-based interface that is easy to use, and gives you the ability to submit payments, track payments, verify results, manage problems, and generate reports.
Avoid the cost of expensive printing and finishing equipment. Avoid the ongoing maintenance and labor costs required to run a print center. Save additional costs by leveraging postal sorting and cleansing operations.
Designate where all of your payments will be delivered through pre-defined instructions. Grouping payments destined for various locations is as easy as designating the carrier for each location.
© 2012 Private Scandinavian Sparkasse Investment Bank. All rights reserved.