Intuitive, Task-Driven User Interface
Smart Payments is built around the principle that software should be intuitive and easy to use without the need for costly or time-consuming training. The user interface has been carefully designed to guide users through their daily tasks, enabling them to make all required changes without relying on other departments, delivering value from day one.
Payments Operational Control Centre
Smart Payments brings all investigation cases together under a single application, maintaining all actions in direct relationship to the underlying original payment. Customers benefit from a single point of truth from front- to back-office with the highest possible data quality. The integration of a Quantum calculation engine enables proof-checking of invoices, complex calculations, and reports. An intraday view on data enables accurate forecasting and reconciliation of instant payments, improving turnaround time on exceptions and avoiding idle liquidity buffers or limit breaches.
Intelligent Automation
Smart Payments uses standardised workflows, many of which can be fully automated, to interpret codes on query messages, automatically classify exception types, and suggest or automate the appropriate workflow. This begins with simple auto-acknowledgement and extends to passing data to downstream systems for payment processing (subject to configurable approval principles), requesting information from counterparties, and automating escalations and reminders to guarantee timely follow-up and resolution.
Integrated Exception Management
Flexible exception management workflows with an automated messaging layer — both inbound and, enable comprehensive monitoring, alerting, and escalation across the full transaction lifecycle of a payment. Payment querying and retrieval automation eliminates time-consuming and error-prone manual searches, with results auto-attached to cases and used to determine subsequent automation or flagged for manual review.
Full ISO 20022 Support
Smart Payments supports SWIFT MT and the new SWIFT ISO 20022 orchestration formats, as well as email-based correspondence. Inbound messaging is analysed using keyword-based criteria to create and attach messages to investigation cases, with workflows executed based on newly attached messages. As the market transitions to ISO 20022, driven by the SWIFT MT1xx and MT2xx decommissioning, Smart Payments' value proposition strengthens further with native support across the majority of payment rail providers.
ATM Balancing & Inventory Management
Smart Payments provides dedicated ATM balancing and inventory management capabilities, addressing the unique challenges of this customer-facing infrastructure — including fraud detection during replenishment and ensuring ATMs remain operative and adequately funded. The goal is a balanced ATM estate with minimised downtime, meeting customer expectations while maintaining operational control.
Chargeback Processing
The chargeback process is a significant drain on profitability. Smart Payments streamlines this exception processing so that user intervention is only required for decision-making, with escalations and reminders configurable to guarantee timely follow-up and resolution of investigations.
Smart Payments offers a singular, smart, and intuitive platform for all payment types. This reduces fragmentation, ensures cross-platform status visibility, and delegates the complexity of maintaining rulebooks and exception messaging standards.
Smart Payments significantly reduces turnaround times by providing standardised workflows and intelligent automation across exception management. Integrated processing enables automation to the point of decision or operational checkpoint, reducing manual errors, and enabling real-time information availability.
Smart Payments provides pre-packaged exception management workflows that enable adherence to prescribed rulebooks from organisations such as SWIFT GPI, SEPA, and TARGET. The solution accelerates time-to-market.
Smart Payments is highly scalable and provides end-to-end transaction lifecycle monitoring, settlements, chargeback processing, and ATM cash balancing. The platform scales to meet growing transaction volumes.
Smart Payments incorporates AI to power an intelligent matching engine that identifies elusive matching transactions requiring complex algorithms. It further enhances automation rates, continuously improving resolution efficiency across high-volume exception workflows.
With Smart Payments, institutions can save up to 70% of their average resolution cost. Volume-based pricing upon a subscription model fits the specific requirements of a diverse customer base and enables easy expansion to new or existing subsidiaries.
Smart Payments supports all payment rails. The application is a framework that enables clients to configure any payment rail they use. All SWIFT payment rails are pre-packaged and pre-configured, including full message format and rulebook support. All non-SWIFT payment rail message formats are natively supported if they follow the SWIFT ISO 20022 standard, with rulebooks for non-SWIFT rails easily configured from a provided default.
Yes. Smart Payments supports both issuer and acquirer business, including the most common Visa and Mastercard formats.
Yes. Smart Payments provides the flexibility to implement validation of the whole transaction ecosystem in a phased approach, allowing institutions to start where it matters most and expand over time.
There are two options:
• Option 1: Load all payments into Smart Payments directly. When a new exception request is loaded, the system automatically assigns the correct payment(s) to the investigation case
• Option 2: Smart Payments can initiate a payment request message as part of its core workflow engine. The payment engine consumes the request and sends the payment message back to the system, which then automatically assigns it to the relevant exception case.
Yes. Smart Payments is fully PCI compliant and Smartstream is PCI-DSS certified.
Yes. Smart Payments offers a licensing option where transaction units are purchased and consumed as messages are loaded, supporting an OPEX model. The solution can also be deployed in a cloud environment for on-demand access.
