Clear2Pay upgrades Corporate2Bank Payments solution

Source: Clear2Pay

Clear2Pay has announced the enhanced Corporate2Bank Payments solution (C2B). In response to market demand from both the corporate and the bank side, Clear2Pay has enhanced its bulk payment offering with the launch of Corporate2Bank Payments.

Clear2Pay C2B Payments provides banks with a solution to directly interact with their corporates' ERP systems helping them to optimise their financial supply chain. Banks and corporates alike can thereby dramatically decrease their processing costs.

Clear2Pay C2B Payments improves the end-to-end information exchange, from buyer to buyer's bank, to seller's bank and to the seller, making it seamless between the ERP systems of corporates and the front-, mid- and back-offices of banks. Its flexible routing intelligence can also be used to directly deliver payment orders to local – and regional clearings or to SWIFT.

Key features include:
  • Complete automation of payment processing
  • Supports any payment format (MTXXX, EDIFACT, ISO20022, etc.)
  • Ability to warehouse payments for later processing
  • Secure web screen to configure electronic notifications of payment status
  • Wide range of standard internal and external communications adapters for rapid implementation
  • Processing of remittance advices

    The C2B payments application can be integrated with external customer systems and internal bank systems in a variety of modules.

    Clear2Pay's Mickey Vonckx, VP Corporate Payments, says: "When it comes to payment services, corporates tend to have two main complaints: the absence of interoperable message standards and the inability to include remittance data in the end-to-end payment chain. From our discussions with banks we know that this is a top priority in relation to their corporate clients, as the recent attention for this issue at Sibos demonstrates. By adopting industry standards banks can remove the complexity of integrating with a myriad of proprietary technologies and concentrate on offering value-added services to their corporate clients instead."
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