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Applying innovation In the payments arena
The Business Issue Financial institutions are continually faced with the challenge of aligning with industry trends and complying with regulations, whilst under increasing competitive pressure. Accurate and timeous payment and settlement of concluded transactions is arguably the backbone of any back office and of primary concern to any back office manager today. Our systems and process professionals have extensive knowledge of payments processes, settlement authorities and enabling technologies and organisations. IQ’s ongoing involvement in Payments projects, has enabled us to grow a centre of domain competence. A systemic view and relevant experience, affords significant contribution in solving specific Payments business challenges. By partnering with IQ, our clients have access to committed people, delivery competency and appropriate industry expertise. A distinctive value proposition. Our Innovative Solutions IQ has been involved in the Payments environment since September 2000, where we have been able to assist clients operationally and strategically. This involvement includes: · Business analysis; · Process engineering; and · System integration. IQ’s interaction specifically in treasury has included Systems Integration support of production and extensive functional enhancements of various treasury systems. What Are The Business Benefits For Our Clients? · Alignment with regulatory compliance; · The proposed industry outsourcing of CSDP functions in order to benefit from maximized volumes; · The alignment with STRATE Releases; · Straight through exception processes (STEP) automations; · Consolidating disparate back-end payment systems and the centralisation of non-core functions; · Addressing front-end payment systems and processes that impact client centricity; · Business continuity, including disaster recovery (meeting South African Reserve Bank requirements) and testing; and · Optimisation of current systems in terms of capacity and enhancing usability. IQ has retained a comprehensive understanding of Payments initiatives across the value chain, from business operations and processes, as well as systems. In so doing, IQ continually strives to seek out ways to deliver measurable value to clients.
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