The hype of automation and dematerialization is challenging low-value transactions as well as all other payments to establish larger cash management strategy enhancing financial and operational performance.
The Automated Clearing House (ACH) is a state-of-the-art solution which facilitates the transformation of consumer payments to electronic debits. PS-ACH accelerates transaction processing reducing processing costs and banking fees and improves funds availability.
PS-ACH supports all standard financial messages including: Direct Debit and Direct Credit Presentment as well as their Cancellation and Rejection (within clearing session), Reversal, Return, and Refund (after clearing sessions) and Settlement transactions.
The solution adopts the SEPA European standard based on ISO 20022 using the S.W.I.F.T. XML message formats for the standard messages supported by the system.
Complete End-To-End Clearing and Settlement Cycle PS-ACH covers a complete end-to-end clearing cycle starting from the originator account at the Originating Depository Financial Institute (ODFI). The clearing cycle passes the remittances and batch payment presentment messages to the Automated Clearing House (ACH). PS-ACH then logs and prepares presentment remittances that are directly passed to the Receiving Depository Financial Institution (RDFI), where payments are posted to private or corporate customer accounts. PS-ACH also provides an online integration with the settlement system (RTGS) where the Net Clearing Positions (NCPs) for each clearing session are posted to counterparties' banks' clearing accounts.
Executive Overview
Automated Clearing House Solution.
Accelerates transaction processing reducing processing costs and banking fees and improves funds availability.
Complete End-To-End Clearing and Settlement Cycle.
End-to-end Straight-Through-Processing (STP).
PS-ACH supports all standard financial messages including: Direct Debit and Direct Credit Presentment.
Manages and Monitors Debit Cap and Item Limits PS-ACH provides a specially designed set of functions that allows management of Participants Debit Cap Limits per currency in addition to Payment Item Limits based on item type. This is to provide risk reducing facilities on settlement failures. PS-ACH monitors participants limit caps and alerts the Clearing House Administrator on any participant reaching these limits, so that warnings to participants can be processed by the Clearing House Operations team. Item limits are validated on each transaction received within a remittance batch. Violation to item limits rejects the items failing validation rules.
Management of Working Calendar PS-ACH system calendar provides working calendars that may be modified statically or dynamically by System Administrator, thus allows taking unexpected holidays into consideration. In case of dynamic change, the system automatically modifies the settlement date of all operations stored in the bill-book.
Multiple Currencies Multiple currencies are supported in the system. In addition, adding new currencies is a parametric feature of the system. Accordingly the system may run specific clearing sessions for each supported currency.
