Payment Solutions

Controlled, Transparent & Automated Payment Lifecycle Management

IT2’s payment solutions deliver a consistent, repeatable and integrated process to collect, centrally control, release and track payments of all kinds, including commercial, treasury and inter-company payments. IT2 supports the entire payment lifecycle, with integrated and secure straight through processing (STP).

IT2 supports payment factory, shared service centre and in-house bank payments management. The solution supports repetitive and free format payment messages / wires, for domestic, cross-border and foreign currency payments. It is a best practice solution that centralises, standardises and controls the organisation’s payments, regardless of size, origination point or destination. It addresses the inefficiencies and risks inherent with fragmented and complex payment environments which typically involve many different types of format, security standard and transmission protocol.
IT2 enables treasury control to be applied equally to high value and commercial bulk payments management, enhancing enterprise-wide cash visibility and mobility, reporting transparency and financial risk management.

The IT2 Payments Solution l Enterprise-wide cash visibility, policy compliance and STP control in a single system solution

Payment collection and origination

• Import from any source system, such as ERPs and Accounts Payable, using files or messages 
  • Full, flexibly defined validation of incoming data, with repair facilities to correct errors
  • Handling of all incoming formats, transmission protocols and security systems
• Automatic generation of treasury payments relating to treasury deals and cash transfer operations
• A full range of manual payments, including one-off repetitive or free format payments and ‘payments on behalf of’
• Payments originating from IT2’s multilateral invoice netting process 

Centralised control and visibility

• Robust and transparent key controls based on treasury policy 
• Centralised or decentralised payment controls
• Key controls configured by payment type, value and origin
• Net settlement processes included in the payment workflow
• Support for Continuous Linked Settlement (CLS) 

Secure transmission and real-time tracking

SWIFTReady Accreditation



 

 


IT2 holds the SWIFTReady for Corporates – Treasury label. The award of this label by the SWIFT Partner Management Team provides an additional certification which assures clients that IT2 correctly creates and validates SWIFT messages relating to the three key treasury-bank communications requirements: bank balance and transaction statement reporting, settlement management and confirmation management. The certification process rigorously tested that IT2 demonstrates compliance with SWIFT standards, messaging services and connectivity.

• Support for international standards, such as EDIFACT and the ISO 20022 XML, including the SEPA-ready formats
• Integration with bank specific applications and global multi-bank protocols and platforms, such as SWIFTNET, FTP/SFTP
• Support for regional and domestic payments such as Fedwire, ACH, EBICS, etc.
• Support for SWIFT message formats and connection options:
  • SWIFT alliance gateway
  • AutoClient /SWIFTLite
  • SWIFT service bureau connectivity
• Secure and controlled payment release workflow
• Payment status tracking, monitoring and reporting
  • Import and monitoring of ‘ACK/NAK’ messages
  • Relaying of payment statuses to the originating ERP or Accounts Payable systems as required for full process control

IT2’s payment solutions enable treasury departments to increase operational efficiency, minimise bank costs and mitigate the operational risk surrounding the payments process by providing a secure, standardised STP operational platform. The solutions are fully linked with IT2’s cash positioning, forecasting and risk management functions, facilitating effective cash visibility, policy compliance and process control in a single solution.