Charges Claims Receivable & Payable Automation for Electronic Payment

CAPABILITIES

  • Automates Receivable Charges Claim generation for SWIFT and Domestic Payments
  • Automates Reconciliation of all Charge Claims generated
  • Registers Charge Claims received from other banks
  • Maintains Receivable and Payable Ledger by BIC (Bank Identifier Code)
  • Can generate monthly invoices for select banks
  • Automates Payment of Charges Payable
  • Tracers and Chasers for pending Charges Receivable
  • Automatic identification of payments received, mark-off of receivable entry and accounting of charges received
  • Short payment management and unpaid charges write-off management
  • Screening of incoming payments and NOSTRO statements for charges receipt
  • Internal departmental referrals
  • Message communication thread maintenance

VALUE

  • Increased charges collection and reduction of time to collect
  • Prevention of income leakage

Cognitive Microservices in Patterns Braavos

  • Vision Services
  • Natural Language Processing (NLP) Services
  • Classification Services
  • Pattern Detection and Recognition Services
  • Knowledge Acquisition and Exploitation Services
  • Prediction & Anticipation Services
  • Expertise based Decision Making Services
  • Speech Processing Services
  • RPA Services (for Login, Access & Operate functions available in any banking software system)

IMPLEMENTATIONS

Automates screening of payment and trade swift messages to look for charge claims and locates any missing charge claims to be generated

Automatic generation of monthly invoices for Banks requiring the same

Automated generation of follow-up communications using SWIFT messages and FTS messages.
Automatic escalation email generation to Financial Institution Relationship Managers.

Automated Screening of MT202 messages or Account Statement messages to locate payments made for charge claims and auto generation and posting of accounting entries and mark-off of account receivables

Automates generation of MIS of pending receivables, recoveries made, average and highest recovery timelines and short payments