ProgressSoft’s Corporate Banking suite is an advanced, comprehensive solution that provides banks, corporates (small, medium and large), and government establishments with the means to maintain, manage and execute different front-office banking services and conduct payment and banking transactions remotely.
At a glance
PS-CORPay is designed to address the inadequacies of the current costly, time-consuming and risky processes between banks and corporates and provide an advanced, smooth workflow for corporates to conduct financial transactions and control banking transactions from their own systems. The modern solution embraces a modular architecture that includes the following modules:
- Trade Finance
- Check Management
- Cash and Liquidity Management
- Data Analytics and Dashboards
Advantages of PS-CORPay
PS-CORPay provides banks and corporates with prime advantages including:
- Reduced cost and managed risk through intelligent and automated business process workflows
- Meeting of regulatory requirements through efficient management of daily liquidity
- Provision of full visibility over total cash positions
- Simplified the transfer of funds
- Facilitation of the financial interaction between banks and corporates
- Enabling of remote initiation, tracking and archiving of transactions
Why opt for PS-CORPay?
In addition to efficient workflows and fully managed, fully visible and simplified financial transactions, ProgressSoft’s Corporate Banking suite comprises value-added components that revolutionize and facilitate processes for banks and corporates evermore. Inherent system components in PS-CORPay include:
- Corporate Profile Management
- Identity Management
- Contract Management
- Beneficiary Management
- Bank Management
- Request Management
The Trade Finance module enables corporates to conclude, manage and control the lifecycle of trade transactions in a simplified and secured manner. The module covers the internal corporate functionalities and workflow and connects with banks’ trade finance facilities to submit and receive applications, requests and responses including letters of credit, letters of guarantee and bills for collection.
The Payments module enables corporates to execute and manage all types of payments whether interbank, intrabank, same currency or multicurrency including:
- Incoming and outgoing (local (ACH and RTGS) and international)
- Electronic Bill Payments
- Standing instructions, standing orders and recurring payments
The Check Management module handles the full cycle of all types of checks including inward, outward, post-dated and managers checks. In addition, it covers the check paper portfolio starting from the request to banks and receipt of the checks, to keeping track of the inventory and check printing.
Cash and Liquidity Management
The Cash and Liquidity Management module allows corporates to view and manage their cash inflows, cash outflows and net positions for any selected time period. It also allows for the execution of pooling, sweeping and money market instructions in addition to presenting what-if scenarios and customized threshold alerts.
Data Analytics and Dashboards
The Data Analytics and Dashboards module provides corporates with a full graphical view of present and future assets and liabilities according to selected time periods in addition to full-fledged reports of financial data. It also avails reconciliation between the bank and corporate to ensure integrity of data presented.
ProgressSoft assists banks and corporates in developing a better understanding of its PS-CORPay through a comprehensive presentation complemented with module recommendations according to each institution’s ecosystem and process workflows.
Interested in a PS-CORPay presentation? Contact us at email@example.com
PS-CORPay avails a user-friendly business setup platform for banks and corporates to seamlessly define languages, currencies, foreign exchange rates and more.
PS-CORPay handles user definition and management according to a three-dimensional authority matrix where all transactions are subject to three levels of workflow users; entry, verification and acceptance.
PS-CORPay utilizes intelligent dynamic capabilities to automatically route transactions from data entry to authorization levels at bank and corporate levels. This is in addition to smart reallocation of users within the process workflow according to internal changes as defined by the bank or corporate.