PS-MMS

Mandate Management System

ProgressSoft’s Mandate Management System is an advanced, centralized system installed at the regulatory body to provide a fully automated and streamlined process for mandate management endorsed with a digital signature.

The solution allows end users to produce and generate direct debit transactions in real-time with innovative features that satisfy the requirements of mandate initiation, amendment, cancellation, deferment, continuation, transfer, enquiry and payment verification.

PS-MMS

Features

Integration with the Automated Clearing House (ACH)

PS-MMS seamlessly integrates with ACH systems and communicates efficiently through any existing infrastructure utilized by financial institutions. It also supports ISO 20022 (MX) and additional messaging formats and customizations.

Integration with the Automated Clearing House (ACH)
Unilateral and Bilateral Mandates

Unilateral and Bilateral Mandates

PS-MMS supports unilateral mandates, which can be terminated by one party without the need for the other party’s approval, as well as bilateral mandates, which require the approval of both parties for termination.

Debtor and Creditor Relations

PS-MMS allows debtors and creditors to initiate, amend, or cancel mandates on a unilateral or bilateral basis in accordance with the existing rules identified and configured by the regulatory body in the solution.

Debtor and Creditor Relations

More features

Mandate Policies

PS-MMS comprises an embedded switching mechanism of mandate communication responsible for safeguarding the guidelines of the regulatory body by managing different mandate-related policies. These policies govern the creation of mandates and concern aspects such as mandate timeout and automatic replies.

Mandate Deferment and Continuation

PS-MMS allows debtors to defer mandates and reinitiate their continuation on a unilateral basis according to the rules configured by the regulatory body in the solution. The continuation of mandates is automatic after an allocated period of time, or manual under certain conditions.

Mandate Transfer

Creditors and debtors can transfer their mandates from one bank to another using PS-MMS. If the debtor or creditor want to transfer their mandates to a new bank, the new debtor or creditor bank will inform the old debtor or creditor bank and upon approval, the creditor or debtor bank will be informed.

Benefits

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