Viewpointe Automated Settlement Entry

In February 2009, Viewpointe released an enhanced Automated Settlement Entry, which was designed to:

• Respond to market demands by offering a risk management tool for financial institutions.
• Allow financial institutions to designate specific settlement windows for cash letters in the check settlement process.
• Offer a seamless, end-to-end clearing and settlement solution to several of the largest U.S. banks.

This enhancement provides financial institutions with greater control over settlement timing, minimizing their risk of settlement errors and enhancing their ability to meet the terms of their individual image exchange partner agreements. The solution helps financial institutions automatically post presented files for settlement — eliminating the need to import, upload or manually key settlement entries. ASE:  

• Gives financial institutions a tool to better control check image presentment and settlement processes.
• Potentially reduces the likelihood of expensive settlement errors and reversals for financial institutions.
• Allows financial institutions to strictly adhere to their partner image exchange and settlement agreements.
• Helps financial institutions process high-dollar-value payment traffic, such as controlled disbursement accounts, more confidently.

When you establish a contractual partnership agreement with another financial institution, often you will establish customized business rules for settlement of payments with your partner. Using ASE, you can provide those business rules to Viewpointe. After setup of the ASE service, cash letters are delivered to Viewpointe through normal processing. Viewpointe will cross-reference the cash letters against your pre-defined business rules to identify when the settlement should happen and post your settlement entry automatically.

As of June 30, 2009, ASE is being used, or is in testing, by more than 60 percent of Viewpointe's financial institution customers. 

Viewpointe
www.viewpointe.com

<-Back