Today’s financial payments industry is under pressure from commoditization, globalization, and an increase in regulatory and compliance directives. Added to this challenging mix is the fact that customers have become more demanding about the kind and quality of service they receive from their financial institution. Banks need to be able to do business globally, but, find it difficult to do so, because of the complex IT environments in which they operate.
Sterling Total Payments is an application for financial institutions that helps simplify the complexity of the bank’s current environment through an integrated approach that consolidates customer setup, exception handling (including regulations checking), and visibility in a single location across all lines of their payments business in their IT architecture. This solution leverages existing back-office payment applications and enables a bank to improve customer service, accelerate time to revenue, and reduce internal costs.
Sterling Total Payments includes the following key components:
- Client acquisition and setup accelerates revenue by improving customer setup process and includes self-service Web portals for a higher level of client control, for completion of implementation setup and management for new payment services.
- Exception management automates corrections to improve straight through processing (STP) and customer service while delivering improved margins by managing exceptions through pre-built and configurable autocorrect options with customizable policy and rule creation as well as streamlined resolution processes.
- Payment visibility reduces servicing costs for payment and file inquiries while offering customer self-service and improving telephone customer service with a consolidated, near real-time access point for reporting, graphing, historical trending and online dashboards of payment and exception item activity across all payment lines of business.
- Comprehensive range of industry standards enables consolidated control, validation and visibility of business process exchanges with external organizations and networks, including NACHA, SWIFT, card processors, and outsourced service providers.
With Sterling Total Payments, financial institutions can increase processing efficiencies with improved STP for domestic and international payments and automate repair exceptions that are within established parameters. In addition, the improved control provided by this solution enables visibility with business intelligence,analysis of important payment and operations trends, and real-time monitoring of processing and exceptions.
*Sterling Total Payments for Financial Services is only available in North America at this time.
More Information
Sterling Total Payments Solution Overview
