PayConnect - A Centralized payment processing solution

Monitor all payments on real-time basis

Seamless
Integration Of
Domestic Payment
Channels

MindCraft's PayConnect is a comprehensive, adaptable, secure, real-time product that integrates various domestic payment channels such as RTGS, NEFT and SWIFT with the bank's CBS while providing centralized monitoring and governance across all channels.

Apart from providing a central hub for integration, PayConnect also provides an operations console for tracking of payments. It provides end-to-end visibility & real time tracking, maintenance and management of messages, allowing delivery of Service Level Agreements with large customers. Its service-oriented architecture empowers the bank to integrate and enable STP of its core functionality with RTGS and NEFT gateways.

Enjoy The
Convenience of
Straight Through
Processing

Benefits

Straight through processing for a majority of the transactions

Handles large volumes of transactions with ease

View the end to end lifecycle of a transaction

Limits transactions to ‘In-Error’ transactions

Control timing of bulk processing

Implements a powerful audit, based on tracking

Key Features

Message Processing


Support for NG RTGS using MI Client or Web Services API

STP for RTGS Outward/ Inward payments (R41, R42) with CBS

STP for NEFT Outward/ Inward payments (N02, N04, N06, N07, N10) with CBS

Auto or Manual Rejections of inward messages based on pre-configured rules

SMS and Email Notification

Facility to sign NEFT messages digitally

Integration with CBS using native CBS methods

Duplicate check in CBS transaction

Operations Console


Amount based authorization with Maker-Checker

Optional Name Check

Beneficiary Account Number Validation

Audit trail and Message payload

Old to New Account Number mapping

RBI Holiday Calendar Managemen

Two–step accounting

Manual reposting for failed transactions

File upload facility for NEFT/ RTGS transactions

RTGS and NEFT service window management

Reports & Dashboards


Daily transaction dashboard

Daily transaction reports

Daily batch-wise report for NEFT

Daily & monthly NEFT aggregate report

Monthly RBI positive confirmation report for NEFT

STP/Non STP transaction report

Exception report

Monthly RTGS report – enterprise wide & branch-wise

RTGS consolidated return report

RTGS daily branch-wise STP/ Non-STP

Find out how you can benefit with PayCraft