Mindgate’s e-Collect addresses all aspects of collection & payment processing from inception to settlement including data governance and reporting. It serves as a single platform for all financial transaction across banks and merchants.

e-Collects works as a comprehensive and/or modular value proposition for our clients to implement all or a combination of components to put in place the most effective payments collection and reconciliation solution.

  • IBAN/ Non IBAN based VA handling
  • Multi Country/Currency VA support
  • Multi Hierarchy VA creation
  • Dynamic VA creation on deal based for direct Invoice Presentment
  • Creation of VA using API invoke from corporate customer portal
  • Reporting of VA transactions in standard (MT940) or custom report formats
  • In-House banking setup
  • Entity setup and linking of various level VA for pay-out process
  • Provisioning of Budget and SI / Adhoc pay-out functions
  • Rule based pay-out using SI module
  • Beneficiary templates for Adhoc pay-out process
  • Authorisation matrix setup as per corporate signing limits
  • Corporate liquidity management support by integrating third party bank statement collation
  • Consolidated account position reporting – Country / Currency / Bank wise
  • Handling of fund movements based on account balance position
  • Rule based pay-out handling based on account balance holding position
  • Centralised platform for corporate liquidity and reporting handling
  • Corporate can present the receivables using API integration.
  • Pay online / offline, using VA against the invoices submitted and reconciled in real-time.
  • Portal for handling invoice acceptance/payment by customer business partner.
  • Provision for initiating payment with single/multiple invoices (One to One / One to Many) and selection of various payment initiation modes.
  • Creation of dynamic VA or payment reference number for facilitating payment initiation via electronic mode from other bank/channels.
  • Invoice Matching Rule Engine & Creation of rules at multiple level.
  • Full Match/Partial Match rules setup, Mapping & sorting of fields for reconciliation.
  • Threshold setup in +- % range for reconciliation, Rule template with multiple level and execution sequence setup, LIFO/FIFO, Ascending/Descending sequences.
  • Rule creation at customer product level.
  • Reconciliation for Other Bank Transactions, Reconciliation execution using multiple model.
  • Auto / Manual recon, Predictive/Suggestive recon for partial match cases.
  • Comprehensive dashboards report and analytics.
  • Report designer, scheduler and data enrichments.
  • Single point of cash flow analysis and trend analysis.

Features

  • Highlights
    • Platform for corporates to access bank’s services through API’s.
    • API based architecture allows banks to enable their clients to use their preferred applications instead of banking channels but yet consuming banking services.
    • Comprehensive collections solutions coupled with a complete reconciliation system.
    • Agency banking, In-housing banking and partner banking under one umbrella.
    • Complete API based architecture provides the flexibility to bank on go-market strategy.
    • Seamless payments using smart routing© provides the corporates to select the preferred method.
    • Electronic invoice presentment and payment with Request to Pay enabled.
    • Hierarchy based Virtual accounts supporting POBO (Payment On Behalf Of) & COBO (Collection On Behalf Of) structures.
    • Platform supports multiple payment fulfilment methods.
    • Corporate Liquidity Management.
    • Invoice Reconciliation & reporting.
    • Integrated Bill Payments (Bills and Corporate payments).
    • Mandate Management.
  • Key Benefits
    • Digitization of receivable management.
    • Consistent identification of payment source and payer identification.
    • Real time confirmation to buyer and seller.
    • Real time availability of funds for better liquidity management.
    • Provides a single integrated view of all collection receipts, payments, projections & liquidity status of corporates and extents the views to their end business partners.
    • Multi-tier virtual account facility to manage multiple entity/hierarchy in single window, virtual payment wallets for easy payment and collections.
    • Request to Pay facility integrated with Real time online customer payments through fund sources such as banking account, credit card etc.
    • QR code-based collection (Static/Dynamic) for easy payee verification leading to collection process simplification.
    • Automated reconciliation and settlement of account receivables and instant notification of payments to customers via extended partner portal for invoice payment.