Digital Payments and Investigations

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SmartStream’s digital payments solution automates reconciliation, settlement, fee calculation and dispute management processes. It supports all payments players, irrespective of size. Integrating artificial intelligence, it enables rapid on-boarding and complete transaction lifecycle management.

The solution allows payment investigations for SWIFT and RTGS to be carried out. Pre-configured workflows automate large parts of the exception handling process, guiding users and virtually eliminating the risk of error.

Sophisticated analytics give valuable insights into the cause of failed or investigated payments, empowering firms to tackle problems at source and to understand the level of effort required to deal with different exception types, payment systems or correspondent banks.

Trusted by the industry and regulators, the solution has achieved PCI-DSS certification, SOC 1, 2, 3, ISO27001 and ISO27002 standards.

Key Features

TLM Aurora Digital Payments Control tackles the complexity inherent in the payments industry and makes the processes involved quick and easy to execute and monitor. It offers the functionality a business needs to operate in this area, while being intuitive, user-friendly, and easy to learn.

Digital Payments Control is a real-time, pre-configured solution. Incredibly efficient, highly scalable, and easily deployable, it addresses the needs of credit card issuers and acquirers, payment service providers, and technology innovators. It is also available as a cloud-hosted solution.

The solution enables issuers, acquirers, and other digital payment service providers to automate reconciliation processing, remove manual activities and replace them with automated exception handling processes, providing more efficient and effective digital payment management.

It utilises the financial services industry’s most widely deployed reconciliation solution – proven technology used by hundreds of financial services firms globally.

The solution employs a highly intuitive, easy-to-use user interface, TLM View. This guides staff in their daily work, proposing new tasks where necessary. Thanks to this feature, the training of new personnel is made far easier and quicker. TLM Aurora Digital Payments Control offers a variety of sophisticated features including:

  • Lifecycle operations monitoring
  • Exception management
  • Chargeback handling
  • Settlement voucher generation
  • ATM balancing
  • Comprehensive audit/archive
  • Standards-based

Key Benefits

TLM Aurora Digital Payments Control delivers a real-time operational control layer, ensuring greater visibility into digital payment transaction processing, allowing firms to manage different elements of digital payments processing including:

  • Full transaction lifecycle monitoring – from transaction authorisation through to issuer / acquirer settlement, invoice reconciliation, and settlement voucher generation
  • Intra and interbank transactions for own and external customers
  • The settlement of funds
  • Transactional charges incurred for any service (with TLM Fees and Expense Management it manages very complex charges such as scheme and infrastructure fees

The solution offers an industry-leading reconciliation engine coupled with a sophisticated dispute management capability, ensuring effective resolution of unmatched items and other exceptions. It delivers significant reductions in risk and enables firms to identify problems – such as unmatched authorisations versus presentments, different settlement file formats, potential fraud, and faulty machines – more efficiently, thereby saving time and money.

Additional benefits include:

  • Post swipe, post tap operational control and dispute management
  • Proven ability to manage millions of transactions per hour
  • Reduced time and effort required to onboard new customers
  • Enhanced transaction management – leading to higher processing rates and ensuring all exceptions are dealt with promptly and automatically
  • Improved protection of reputation: more efficient monitoring and event management reduces account errors, such as double bookings due to stand-in or authorisation duplication
  • Increased profitability through more efficient use of staff time: users are guided through their work and exception processes are automated - users spend less time per unmatched transaction and on reporting
  • Lower operational costs: greater automation removes manually intensive processes and provides improved visibility into invoices from third parties
  • More efficient operations: the lower number of exception items permits staff to focus efforts on added value tasks
  • Improved fraud monitoring: rapid access to rich transaction and counterparty data enables firms to limit exposures and provide more efficient resolution
  • Ease of use: an intuitive user interface guides staff through tasks - the solution apportions daily work and proposes appropriate next actions. The user simply needs to click on the open tasks assigned to him or her, and resolve them one by one
  • Time-saving: a self-explanatory solution that also takes care of users, suggesting tasks rather than simply leaving staff to search for work
  • Improved control: optional maker-checker principle where one type of user carries out the manual matching and exception handling, while a second user confirms or rejects the work done
  • An optional Artificial Intelligence (AI) for heightened efficiency and continuous improvement