ION Treasury, a global provider of treasury and risk management solutions for corporations, financial institutions, and central banks, announces the launch of its Enterprise Payment Hub, a new solution, to centralize, automate, and secure payment processing.
The Enterprise Payment Hub is ideal for businesses with multiple payment source systems and numerous points of connection to their banks. Many companies lack end-to-end visibility of their payments and require consistent processes that comply with their control frameworks. The Enterprise Payment Hub consolidates the end-to-end payment process into a single platform, ensuring system-controlled security, consistency of payment workflows, file encryption, reliable connectivity, cut-off time management, and payment monitoring. The solution’s connectivity facilitates transfers of payment files between upstream systems and banks through various channels.
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Real-time visibility and automation
The Enterprise Payment Hub ensures that companies never lose track of any payments as they move through the payment lifecycle. With API integration and support for SWIFT GPI, users gain real-time visibility of global payments through on-screen monitors. It is designed to maximize productivity through automation and sends alerts for any items that require timely actions.
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Demonstrating ION Treasury’s commitment to supporting CFOs through their digital transformation, the Enterprise Payment Hub brings finance teams closer to their objectives. It centralizes data for use in AI applications and reduces costs by optimizing liquidity positions and lowering bank fees. It also ensures robust payment security standards to prevent fraud and tighten control of payments.
Flexibility without customization
Businesses that manage multiple payment source systems will benefit from configurable workflows that support straight-through processing (STP) for various payment types. This flexible solution can be deployed either on-premises or in the cloud and interacts with any Treasury Management System (TMS), Enterprise Resource Planning (ERP) system, and multiple payment source systems. This makes it ideal for organizations looking to centralize their payments landscape. Enterprise Payment Hub seamlessly integrates with ION Treasury’s leading solutions Wallstreet Suite, Reval, and IT2 for an enhanced TMS experience.
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Michael Kolman, Chief Product Officer at ION Treasury, says: “We are excited to bring this new innovation to CFOs and Treasurers. Visibility and controls around payment management are increasing in criticality. Enterprise Payment Hub addresses the vital need for centralized controls and enables digital transformation, while also providing businesses the potential to reduce operating costs.”
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