Payment Clearing and Settlement

Bringing Efficiency and Accuracy in Funds Distribution

The maximum value and safety for faster payment

Faster payments with an increased ROI has become the critical differentiator for staying ahead of the competition. Therefore it has become essential for achieving final settlement as early as possible without delay for credit, liquidity, or operational risk. As part of clearing and settlement, an accurate, real-time, and efficient reconciliation process is a differentiator. Companies that continue to use manual reconciliation processes are overburdened by challenges and at risk in data collection, transaction matching, and post reconciliation adjustments. A configurable, web-based automatic reconciliation system for monitoring and resolving the daily reconciliation process is needed to bring the maximum value for faster payments. Conducting a comprehensive automation review of the end to end clearing and settlement process can optimize operational efficiency for all the players in the payments ecosystem and is a must in today’s disruptive environment.


What RS can do for you

  • Modernize legacy clearing and settlement systems with an API-first, cloud-first, digital technology that uses a configurable rules engine to drive zero downtime on existing systems
  • Enable API technology to drive faster time to value using the ability for your downstream systems to ingest information in real-time, faster integration with external stakeholders, and enhanced user experience with an enriched data visualization
  • Minimize the manual intervention in the reconciliation process by building a customized automated reconciliation process by receiving omnichannel reporting in one centralized location. Simple automation makes the adjustment of unreconciled transaction quick and hassle-free
  • Increase operational efficiency by automating manual processes, using workflow-based rule engines, offering innovative value-added services such as customized reporting for merchants, and providing a user-friendly web UI for a detailed view of transactions being reconciled to lower inquires from all stakeholders
  • Drive business growth using settlement data in near real-time with advanced analytics to deliver value-added services
  • Improve stakeholder experience with a fully customizable and flexible system that provides a simple, transparent, and auditable residual management

    • How RS Software executes

  • Network: Provided a new rule management solution to replace a legacy rule engine driven system for one of the highest-volume transaction processing systems in the world. Replaced the complex, semi-structured directory with provisions for future change with zero impact and downtime to existing clearing, settlement, and reconciliation processes.
  • Processor:
    - Reduced reconciliation and exception management time by 80% by automated notification of exceptions
    - Reduced end-to-end reconciliation time by an estimated 86% by moving from manual reconciliation to automated reconciliation
  • Payment Service Provider
    - Automated the job of acquiring data from multiple external and internal sources using API and secure file transfer protocol (SFTP) to build a dashboard to access the status and details associated with the reconciliation coming from multiple sources
    - Provided an organization with better visibility and tracking of fees, charges, and adjustments for better audibility. The reduction in audit cost was 86% based on automated account certification and electronic storage of data.

    • Read about why leading payments brands trust RS Software

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