With BusinessBridge BusinessVision for Wholesale Payments Monitoring, you can monitor your payments process from end-to-end in real-time. The solution is driven by Systar's unmatched Business Activity Monitoring (BAM) platform, BusinessBridge coupled with BAM Knowledgeware. This Knowledgeware, developed specifically for the payments process, was developed from our experience with customers such as Barclay's Bank, BNP Paribas and more. It is a payments process specific library rich with Objects, Key Performance Indicators (KPIs), evaluation rules and visual components that provide you with perspectives or views into your process.
For example, payments operations managers and staff can manage the volume of activity and the speed at which payments are processed in real-time. You can see whether or not the process is running without interruption and, if there are interruptions or the potential for one, it will show you exactly where they are.
Interruptions can be corrected before major service outages occur and everybody starts screaming.
Directors and customer service executives can see how the payments process is performing in real-time. You can avoid penalties caused by missed deadlines and cut-off times and maintain the satisfaction of key customers. You can monitor regulatory compliance, multi-channel activity, product activity, customer activity and workforce efficiency in real-time.
BusinessBridge BusinessVision for Wholesale Payments Monitoring, will enable you to:
Assess the risk and business impact of message flows on your payment cut-off in real-time
Identify the root-cause of a problem for faster incident resolution
Track the status of your payments by type (for example by typology - Fedwire, etc.) and determine where they are in the process flow (OFAC, DDA, etc.)
Immediately identify payments that are suspended or blocked and know who is impacted
Monitor workforce efficiency so you can adapt workload with the payment reject volume
Monitor business performance by customer, sending party, clearing system, etc. to look for deviations from business expectations and expected patterns
Key reporting and trending features are also included. You can see the evolution of a specific KPI - you can see it from the beginning of the day or at any point during the day, you choose. KPI values can be consolidated over a week or a month and used for SLA/performance reporting. In addition, you can anticipate any degradation of service and understand the recent history of an abnormal situation.
BusinessBridge BusinessVision gives you complete end-to-end visibility of your payments process. Banks who have implemented this solution have:
Improved operational efficiencies from business operations to IT
Avoided the financial penalties associated with missed payments
Improved their global straight-through rates, reducing the cost of process payments
" Proactively managed the cut off times set by financial institutions
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