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BSA - Payments

Payment transactions may be domestic, external and internal.

Regarding domestic transactions, the BSA provides support to data exchange with clearing systems. The clients may submit orders as hard copy, on a floppy or digitally signed e-mail.

The application offers to the bank a number of ways to develop internal organisation and control of payments through acceptance and authorisation of orders.

It also offers external payments interface to the application used for processing of S.W.I.F.T. messages (Turbo Swift, Swift Alliance) so that once entered payment order data need not be re-entered. Owing to the fact that database is centralised, transactions may originate in a branch of the bank (e.g. cover for remittance) and be settled in the head office (remittance liquidation) without physical transfer of documents.

The application provides recording of queuing orders in all three payment systems. Queuing orders are included in the calculation of the cover of both the client and the bank. Data exchange in payment transactions is supported based on the specific formats.

By using BSA payment operations application the bank is provided with:

• High volume of orders
• Monitoring of the bank's liquidity
• Recording of legal basis for payments
• Recording of queuing orders
• Support to data exchange based on specific formats of financial and govermental institutions

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