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IMS Payments

An Enterprise Payment Hub

A digitalized and modernized platform
for end-to-end processing of all payments

IMS Payments ~ ECS’ Enterprise Payment Hub

A well-organized transaction processing platform that simplifies, manages and controls the full breadth of payments, connectivity, integration and messaging services of an enterprise. IMS Payments goes further to cover initiation, pre-processing & post-processing activities.

The Platform assumes the following roles/functions:

  • Enterprise Payment Hub
  • Payment Factory
  • Payment Platform
  • Payment Framework
  • Customer Onboarding
  • Pre-Payment Processing
  • Smart Routing
  • Clearing & Settlement
  • Post Payment Processing
  • Customer Services

IMS Payments automates the end-to-end processing of all payments of an enterprise starting from initiation to settlement and beyond to data governance, reporting and customer services.

A fully modernized and digitalized platform that can delegate decisions, opportunities and mitigate risks to its customers. It extends role-based dashboards and interfaces to obtain greater visibility and control at the branch, department, region, country and multiple-entity levels.

IMS Payments ~ Features

The main features of the platform are categorized and listed below:

Payment Initiation

  1. Manual Entry: Forms, Smart Forms & Templates extended to branch offices, online banking applications and other devices.
  2. From Core Systems: CBS: Payments from core systems of the enterprise can be received in bulk or real-time mode.
  3. From Customer’s ERP systems: Connect with Corporate customer’s ERP systems, receive integrated files.

Pre-Payment Processing Services

  1. A series of pre-payment processing services that ensures that a payment is initiated in compliance with various requirements and that once initiated, it will get to completion.
  2. Reduce the risk of funds getting held due to lack of due diligence.

Channel Selection & Routing

  1. Identifies all possible methods available in the platform for clearing and settling a payment.
  2. Decides the best possible method/rail based on customer preferences such as settlement time, fees & charges, compliance requirements etc.

Clearing & Settlement

  1. A series of clearing and settlement channels covering both domestic and international payments.
  2. Each payment module encapsulates and automates payment processing associated with positive and negative workflows.

Post Payment Processing Services

  1. A series of post payment processing that will ensure proper crediting, gives accountability to each payment
  2. Maintains Cash Positions and Balances of customers, Nostro and various accounts belonging to the enterprise pertaining to clearing and settlement of each payment.
  3. Reconciliation: Reconcile transactions against statements for matching books and records with counterparties and internal systems.

IMS Payments ~ Benefits

Operational Efficiency

  • Environment: Streamline, Simplify and Optimize your Messaging and Transaction Processing environment
  • Infrastructure: Eliminate the need for fragile data mapping & transmission services that add 0 value to business or operations
  • Workflow: Minimize travel of data between systems causing bottlenecks and failures.

Modernization

  • Easily adapt to market practices, customer needs and counterparty preferences
  • Rapid onboarding of customers without disturbing core systems or adding heavy internal processing rules
  • Comply to Regulatory needs, Network Validations, and new generation messaging – ISO 20022 Standards without disruptions
  • Address the need of all Stakeholders: IT, Compliance, Business, Operations, Back Office and  Customer Services

Digitalization

  • Enables end-to-end visibility of all Messages and Transactions for IT departments and operations
  • Links internally for all modules to communicate with each other as and when needed
  • Easily engage automation for end-to-end processing with complete visibility and control thereby minimize the need for manual intervention, unless warranted.

IMS Payments ~ FAQ

Will I be able to make Cross Border Payments even if I do not have a Correspondent Bank?

Yes. ECS offers a series of cross border payment modules that can be utilized for making cross border payments without having any dependency on Correspondent Banks or Intermediaries. You can save a lot of money in fees and charges, your settlement time will be close to real-time and you can pay to beneficiaries in any country.

What are some of the benefits of having an integrated platform?​
  • All overheads that are placed in the CBS can be offloaded to the Payment Platform
  • A single integration with CBS and other Core systems is all it takes for processing payments through any channel.
  • A new payment channel can be added without effort by simply configuring the routing module.
  • Modernization and Digitalization will not become an additional overhead.

IMS Payments ~ Demo

Get in Touch

Talk to an ECS Analyst to explore our Risk-free acquisition model and to access an Evaluation Instance that may represent your needs.

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ECS Fin - A Systems Approach to Messaging & Transaction Processing Solutions

ECS Fin is an engineering enterprise that specializes in process optimization. We design software solutions with a systems approach to transaction processing.

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