VECTOR E-Payments Solution

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It's everything your customers want for e-commerce processing.
The VECTOR E-Payments Solution goes well beyond EDI - it handles the rapid movement of Accounts Receivable and Payable transaction data, and ensures the correct information about every transaction.

The way to reduce costs
VECTOR E-Payments is easy to implement. It encourages customer self service, requiring little intervention from your personnel. Mainly, though, E-Payments reduces costs through sheer speed and capacity. Its real-time wire transfer interface can process a payment in under three minutes.

Increase your non-interest income
If large corporate customers want to outsource all their payments to you … if your trading partners want access to payment data … if certain customers are willing to pay a premium to have their files processed more quickly - the E-Payments Solution makes it all possible. You'll be able to implement service level agreements featuring priority-based products and pricing.

Growth ahead
VECTOR E-Payments features an ODBC-compliant, fully-relational database and fast, intuitive new customer setup. It helps you grow by making you more valuable to large corporate customers, while you make inroads into the small through medium-size markets at the same time.

Helping you avoid risk
VECTOR E-Payments' built-in redundancy, along with alerts and intervention notices, help minimize risk. These messages can be onscreen and real-time, or delivered via e-mail or wireless. They will alert your staff that something is amiss (i.e., a file is missing) and allow them to take corrective action.

A world of delighted customers
These days, corporate financial managers are focused on Working Capital Management (WCM). They're looking for ways to easily manage their relationships with large and small trading partners. They are looking for a world in which all types of domestic and international payment formats are quickly initiated across the globe, while transaction information flows equally as rapidly - and a world in which any Accounts Receivable file can be consolidated and merged into any format.

VECTOR E-Payments is all about facilitating WCM for your corporate customers. It allows you to process payments and transaction information on a global basis. At the same time, corporations can use that data to accurately manage Accounts Receivable and Accounts Payable processing. You can even generate additional fee revenue by allowing your customers to create and maintain their own enhanced trading partner database.

The Solution that pays
The VECTOR E-Payments Solution is the way to facilitate payments electronically. With the flexibility to comply with virtually any file or transaction format (whether native or proprietary), and the ability to handle customer-specific formats, the VECTOR Solution truly meets any need. The Solution will translate such information into any necessary format, and can integrate the data right into your General Ledger and corporate ERP applications.

A few essential features
Since ACH is a banking industry format, the Solution doesn't force your corporate customers to use it. The fact is, it accommodates multiple options for collected items with remittance data: EDI, XML, proprietary formats and lockbox are just a few.

VECTOR E-Payments features increased processing capability for receiving large payment files from corporate clients, other banks, internal departments and vendors. And the Solution facilitates auto-scheduling by determining a release date and payment method for each transaction.

VECTOR E-Payments accepts combined or separate financial and data files, and reassociates by combining financial transactions with corresponding data transactions. By performing an Accounts Receivables merge, it allows you to return a single file to your customer.

The Solution includes a comprehensive audit trail, as well as functional and content acknowledgment. Features include real-time wire transfer with step-by-step acknowledgment. And acknowledgments as well as remittances can be sent in the format of your choice.

VECTOR E-Payments also helps you keep up to date with ever-evolving industry standards. The Solution includes standards delivery via a database table, and as things change, we'll provide new standards to you via CD or the web.

One world, one Solution
VECTOR E-Payments' ability to support international formats and payment types lets you perform processing analysis for billing on a global scale. The VECTOR Solution also performs decentralized settlement, allowing your bank to match up geographically with the far-flung operations of your multinational customers. And the Solution includes full EDIFACT support, with a capability for processing EDIFACT files and translating them to various domestic payment mechanisms.

Open for business
VECTOR E-Payments is designed for ease of use, with open architecture so you can start using it and deriving its benefits immediately. Its user interface is browser-based, with enhanced security. It includes "drag and drop" mapping, which simplifies the process by allowing users to graphically map from one format to another. The Solution is a true multi-platform product, with open architecture that embraces both UNIX and Windows® operating systems.

Welcome to a new world of e-commerce
If EDI is just too limited to allow you to do everything you want to do with e-commerce, VECTOR E-Payments is the obvious solution.

Its speed and capacity reduce costs. It provides vast opportunities for increasing non-interest income. It facilitates growth while it minimizes risk. In essence, the VECTOR E-Payments Solution is the only system complete enough to take you well into the future of e-commerce.

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