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Capturing payment data right first time

Capturing payment data right first time. Simon Martin Sales Director, Eiger Systems. Eiger Systems. Established March 1997 Strategic payments solutions Validation Clearing 1000+ customers and 90+ employees Stable, organic growth An Experian company. Background.

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Capturing payment data right first time

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  1. Capturing payment dataright first time Simon Martin Sales Director, Eiger Systems

  2. Eiger Systems • Established March 1997 • Strategic payments solutions • Validation • Clearing • 1000+ customers and 90+ employees • Stable, organic growth • An Experian company

  3. Background • Increasing importance of electronic payments • Direct Debits • Customer billing • Direct Debit • Direct Debit Plus (paperless Direct Debit) • Direct Credits • Accounts payable, refunds, payroll • Cross-border • Financial services base • Centralised Treasury • Payment factories

  4. Application Clearing Bank Beneficiary Payment processing Banking systems Reconciliation Data capture Increasing TIME and COST The pain chain of incorrect data Payer

  5. Implications • The EU estimates an incorrect payment costs €50-70 • Direct Debits • Validation is mandatory for Direct Debit Plus • Poor customer service • Reduced cash flow • High cost of capture • Reduced customer acquisition, loyalty and retention • Direct Credits • Poor staff or supplier management • Discounts lost • Cross-border payments in € • Repair and rejection charges

  6. Solution - validation at the point of entry Bank software IRECC

  7. BANK WIZARD • Depth of data • Transposition • Branch data • Modulus checks • Over 50 branches not in the SCB • BIC and IBAN • Weekly data updates • Rapid implementation • Platform independent

  8. Benefits of BANK WIZARD • Reduced cost • Improved customer service • Increased cash flow • Increased customer acquisition and loyalty • Improved staff and supplier management • Complies with • Direct Debit Plus rules • SEPA schemes

  9. Conclusion • Poor data quality has a high cost • Rapid ROI for validating at point of capture • BANK WIZARD solves this problem in many countries • Future proofs your business

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