Johannesburg, 02 Nov 2011
Trustlink, pioneer in business-to-business process optimisation and the leading SWIFT service bureau in Africa, has developed an innovative integrated cash management and banking middleware solution that delivers a single gateway into multiple banking platforms.
The Trustlink Paylink solution delivers a single front-end system that communicates seamlessly with both local and global banking systems on the SWIFT network, and integrates back-end systems to enable simplified management and handling of accounts.
Using Trustlink Paylink, organisations need only have a single password and account to handle transactions across various banks and systems, simplifying banking and cash management for multi-banked and multinational corporates, and allowing them to improve control and visibility of liquidity, reduce risk and improve operational efficiency.
“Many multi-banked corporates struggle with the management of their liquidity visibility and are exposed to various operational risks when dealing with payments in different countries, as each bank has its own standards, file format, structures and so on. Paylink standardises all statements and payments, providing an intuitive front-end for users, along with back-end integration with accounting and treasury systems through an integrated, single gateway into multiple banks. This offers our customers the flexibility and independence they needed, along with full functionality for all their operational banking requirements,” says Hugo Smit, CEO of Trustlink.
As a hosted service through the Trustlink Service Bureau, Paylink delivers a full solution with the necessary front-end, architecture, background, connectivity and traffic management to enable corporates to access the power of this network in a cost-effective manner. It offers more intuitive usage through a single, consistent front-end with an intuitive Web-based portal, creating standardisation and allowing organisations to leverage the many benefits of this multinational transaction management system. Trustlink Paylink is also available as an on-site licensed solution, and the Trustlink Single Bank Identifier Code (BIC) solution, which forms part of the Paylink solution, can be offered independently from Paylink, making joining SWIFT easier and more cost-effective than ever.
“The Paylink solution offering, including the Trustlink Single BIC option, is a natural extension to our existing value proposition and fits with our mission to provide innovative solutions and services that enable our customers to enhance information exchange with their banks, without having to understand or to get involved in the technical details of these links,” says Ren'e Lamberts, Director: Sales at Trustlink.
“As a Payments Association of South Africa (PASA) authorised System Operator and a SWIFT Best Practise accredited Service Bureau, Trustlink has the ability to transact on behalf of other parties over the SWIFT Network, with an ISO 27001 certification to give our customers the assurance that we comply with the highest security standards. By offering corporates a packaged hosted or licensed solution, which handles day-to-day cash management and treasury needs with the added benefit of the international SWIFT network as the backbone, Paylink removes the complexities of managing a SWIFT solution through a cost-effective, reliable and fully certified service,” adds Sean Ascott-Evans, Paylink Product Manager.
The Trustlink Paylink system is modular in design, and consists of common base features as well as a fully configurable suite of functional components. It is customisable by the end user and can be designed to meet individual corporate needs as well as look and feel, with robust security features that enable customer control of the process. Through electronic logging, all payments, statements and other transactions can be tracked, creating a full audit trail throughout the customer's service subscription, delivering greater control and compliance along with minimised risk.
Core modules in the Paylink solution include:
* Unitary payments (ad hoc payments)
* Bulk payments and direct debt collections
* End of Day bank statement reporting
* Intraday bank statement reporting
* Audit responses
* User administration
* Operation management
“Paylink, as part of the Trustlink stable, uses one of the strongest internationally recognised integration solutions with a SWIFT Ready label, ensuring only the highest international standards. It is fully scalable and offers centralised management of format conversions, translations, enrichment and routing, simplifying the complexities of end-to-end integration with SWIFT,” says Hugo.
“Using Paylink, multi-banked and multinational corporates can access a simplified, reliable, flexible and independent solution on the SWIFT network, with improved operational efficiency using straight through processing, reduced operational risk, audit compliance and reduced costs,” he concludes.
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