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A Payment Factory provides a centralized platform for straight-through-processing (STP) of payments to simplify corporate-to-bank connectivity. The connectivity to banks or payment networks such as SWIFTNet, streamlines the payments cycle and delivers out-of-the-box interoperability with major worldwide payment and bank statement formats.

By centralizing payments to one central location, corporations are able to successfully take the In-House Bank to its next level. By using regional payment factories to feed into a centralized operation or shared service center (SSC), it is possible to automate treasury, payments and receivables processes, to improve liquidity and reduce operational costs.

When evaluating Payment Factory solutions, organizations should focus on systems that allow them to realize company-wide centralization of payment processing connectivity with local subsidiaries; allow for payment capture and processing, account statement retrieval, and reconciliation within a single centralized solution.

Key components of the solution include:

* Bulk processing for payments and debits - Manual entry of urgent payments
* Automation enrichment & repair - User defined conditional routing
* Plug-in banks, affiliates and applications - Support distributed organization
* Format conversion tools - Comprehensive format library
* Security & audit management - Detailed reporting & reconciliation

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