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Revolutionizing Payment Data Capture: Introducing BANK WIZARD by Eiger Systems

In the evolving landscape of electronic payments, Eiger Systems presents BANK WIZARD, a cutting-edge software tool designed to enhance payment data validation at the point of entry. With over 1,000 customers and rapid implementation, the solution addresses costly issues related to incorrect payment data, ensuring improved cash flow and customer satisfaction. BANK WIZARD adheres to Direct Debit Plus rules and SEPA schemes, reduces operating costs, and boosts customer acquisition and loyalty, making it essential for modern financial services.

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Revolutionizing Payment Data Capture: Introducing BANK WIZARD by Eiger Systems

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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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