Payments & Cash Management Solutions

Payments & Cash
Management Solutions

DFCC iConnect, a fully integrated Payments and Cash Management (PCM) System delivers distinctive advantages for corporate and SME clients.

DFCC iConnect

DFCC iConnect

DFCC iConnect, a fully integrated Payments and Cash Management (PCM) System delivers distinctive advantages for corporate and SME clients. This innovative solution gives the clients’ Finance and Treasury units the opportunity to access the companies accounts maintained with DFCC Bank PLC, both locally and globally. It also offers enhanced security features that enable real-time viewing of account balances, making local and cross-border payments and collection solutions at the click of a button 24/7, 365 days of the year.

Connectivity

Integrated Connectivity & Authorisation Solution

  • System Connectivity

The system can be fully integrated to a client’s ERP (Enterprise Resource Planner) through a full-fledged secured direct host-to-host (H2H) channel where encrypted payment instructions can be pulled automatically on to DFCC iConnect. This prevents the client from performing additional tasks when processing payments in their day-to-day operational routine.

  • iConnect Mobile Application

DFCC iConnect mobile application was introduced with the intention of giving clients flexibility to view and authorise payments on-the-go. This app was created with the ability to accommodate instructions via biometrics (fingerprint) in order to login to the system

  • Signing Instructions

Clients can build in their current Authorisation Matrix as per their Board Resolutions into the DFCC iConnect system, with any number of signature combinations and signature categories.

  • Beneficiary Specific Authorisation Matrix

Clients have the ability to set-up a beneficiary specific authorisation matrix based on special specifications as per their board resolutions, were there might be separate limits for inter-company payments which are different to the limits set for third party payments. DFCC iConnect also has the flexibility to set-up separate authorisation matrices based on these type of special requirements.

Payments

Integrated Payment Solution
Local Payments

  • Cheque Printing

Clients can outsource their entire cheque printing and delivery operation to DFCC through iConnect or has the flexibility of printing the cheques at their premises. The authorisers digital signatures are printed on the cheque along with payment details on the cover note which can be customised according to the client’s requirement. The system also has the functionality to configure notifications to the beneficiary once the cheque is printed from the bank’s end and is ready for dispatching or collection.

  • Vendor SLIPS Payments

Clients can process their vendor/supplier payments via a file upload or adhoc single payment through DFCC iConnect. The system also has the ability to send the beneficiaries a notification via email and SMS to notify that the payment has been made.

  • RTGS

Clients have the flexibility of informing the bank of the payment and the value prior and enjoying an extended cutoff time to route payments offered only via DFCC iConnect.

  • Pay Orders / Cashiers Orders

Payments can be submitted to the system both via file uploads or as a single payment. Once the instructions are received, the Bank will print the Pay Order / Cashiers Order and have it ready for collection from the nearest branch.

  • Payroll / Salary Payments

Clients have the option to directly process their Payroll/Salaries through DFCC iConnect. They simply need to do a file upload or connect via Host-to-Host directly from their accounting system (ERP).

  • Internal Transfers

Real Time online transfers between the clients own accounts or between 3rd Party DFCC accounts can be initiated through the system as a single / bulk payment 24/7.

Foreign Payments

  • Telegraphic Transfers

Clients can submit Telegraphic Transfer(TT) payment instructions directly onto DFCC iConnect without having to visit any of the branches or head office to route transactions. Customer can enjoy extended cutoff times offered only for TT payments routed via DFCC iConnect.

  • Internal Transfers

Transfers between the clients own accounts or between 3rd Party DFCC accounts can be initiated through the system as a single / bulk payment. Clients are also able to input preferential rates obtained through Treasury / RM / BM in to the system to process the payment in the event of a conversion.

Utility Bill Payments

Clients can opt to pay their utility bills through DFCC iConnect. The system has a total of 13 vendors who clients can pay.. Clients have the ability to perform adhoc one time payments or keep the billers saved on the system for monthly payments.

Document Attachment Capability

DFCC iConnect allows supporting documents to be attached directly to the system for any type of Local or Foreign payment. This functionality will help clients when authorising payments where they can view the supporting documents online instead of referring to a printed document.

Beneficiary Advising

The system has the capability to trigger any number of SMS and Email notifications to beneficiaries once a payment is processed. The beneficiary advice also has the capability to capture invoice details or any other relevant details that a client would want to communicate with the beneficiary.

Corporate Credit Cards

Viewing and downloading of statements at both corporate level and individual card holder level for Corporate Credit Cards issued under the specific Company is available with DFCC iConnect. The system also allows clients to check the corporate cards real time balances as well as initiate card settlements.

Collections

Integrated Collection Solution

  • Digital Deposit Accounts (Automatic Remitter Identification)

This product is offered through iConnect as a unique collection offering. This solution creates a unique digital account number that helps clients identify their payers automatically without having to depend on referencing. This enables clients to have complete transparency, giving them full visibility of their day-to-day collections to make better analytical decisions.

  • Financial Supply Chain Management

This feature on iConnect allows clients to get their distributors and suppliers onto one platform for direct financing to be approved by the Bank. clients and their distributors/suppliers can use this platform for Purchase order and invoice accepting, giving the client the ability to automate their eco systems and bring all distributor/supplier needs into one platform.

  • Receivable Management System

Clients are provided with three unique collections reports that enable them to analyse and forecast their cash flows by taking in to consideration the different types of credits that have been received into their account as well as the credits that are to be received (post dated) to their account.

Reconciliation

Integrated Reporting & Reconciliation Solution

  • Real Time Balance Viewing andBank Statement Download

Clients can get a real time statement view or balances online any time of the day or download statements on various formats (Excel/PDF etc) according to their requirement.

  • Bank Account Reconciliation

Clients have the ability to obtain customised reports/statements (Excel/PDF/MT940) through DFCC iConnect which can be used for reconciliation purposes.