Fully transparent overview of cash pools

Cash concentration functionality allows corporations to record cash pool transactions from external bank accounts and transforms them into intercompany balances. For the cash pool members , this means that all liquidity is up-streamed to the cash pool owner.

With an Internal Bank, external bank balances are transformed into internal general ledger balances in a transparent and automated way.

An Internal Bank can also be used for internal cash pool structures, moving internal balances between different entities.

One payment hub can do it all

A fully-fledged Payment Factory is often the crown jewel of the Internal Bank. It enables straight-through processing, fits perfectly into a shared service set-up, increases transparency, and dramatically reduces the need for resources for payment processing. At the same time, it is often based on a centralized payments-on-behalf (PoB) set-up, thereby reducing transaction costs

The payments-on-behalf concept is unique in the way that it enables any corporation to convert all payments within the group into domestic payments by using local bank accounts owned by a single central unit. The PoB set-up is an enabler for a substantial reduction in your bank transaction costs.

Nasarius will support you in choosing the right set-up based on our knowledge of banks and country-specific legal requirements, which will impact the way you can set up an Internal Bank and a Payment Factory.

The Payment Factory is mainly based on cash pool accounts in order to ensure sufficient funds in the central disbursement accounts.

A Payment Factory fits perfectly into a Shared Service Centre scheme and/or a regional hub set-up. This usually brings flexibility and non-dependence on specific local resources.

As well as supporting the Shared Service Centre/hub set-up, a Payment Factory team will build up knowledge to become a true centre of excellence.

Nasarius supports corporations in building up the Payment Factory team by carrying out training, developing user guidelines, designing processes, defining/setting up interaction points within and outside the Shared Service Centre, and engaging in discussions on authorizations and roles, internal controls (e.g. SarbOx), competence mapping, etc.

Nasarius supports corporations in setting up the right organization to accommodate the requirements and strategies of the company, while also ensuring implementation of the optimal organization based on the new processes and technology platform.

When establishing a Payment Factory, you often see dramatic staff reductions within the area of payment processing; not necessarily as 100% full-time equivalents, but more evenly spread out throughout the finance organization. The idea is to utilize these freed-up resources on more value-adding activities in the organization.

In order to reap the full benefits of a Payment Factory, it is recommended linking such an implementation to an analysis of the corporation’s current banking landscape with the purpose of reducing the number of core cash management banks, thereby decreasing the technical complexity, obtaining better prices and cutting bank costs.

This often requires a bank tender, an area in which Nasarius also provides consulting.

Enables centralization of collections

For corporations with a structured flow of incoming payments and in need of immediate central control of cash, a Collection Factory makes sense. Based on a set of central bank accounts and an Internal Bank, the Collection Factory enables fast straight-through processing and reconciliation. The result is extensive central control of incoming payments and a reduced number of external bank accounts.

One-stop shop

The implementation of an Internal Bank is often based on specific software solutions or add-on modules from the large ERP providers. However, the system is one thing; the necessary changes to the surrounding processes are another thing altogether. In order to have a successful implementation, the whole P2P and O2C process needs to be analyzed and modified accordingly.

With vast experience of many clients, Nasarius can assist you with setting up the right processes to support the system that is implemented and reap the full benefits. While designing the processes, we ensure that the entire inbound flow (O2C) and outbound flow (P2P) are also updated. Nasarius also covers the change aspect of implementing an Internal Bank, making sure process and organizational changes are handled thoroughly and with care.

Nasarius helps your business to connect to your banks in the most efficient way.

Message Formats

– Formats that suit your business

We help your business to connect to your banks in the most efficient way using tried-and-tested technology solutions.

Nasarius has a long track record of implementing standardized and local formats. We can help your business to evaluate different formats and propose formats that will meet your requirements.

ISO 20022 XML is a standard message format which was developed based on the ISO standard. The main driver was to harmonize and standardize message formats across banks.

Today, ISO 20022 XML is also used for SEPA credit transfers and SEPA debit transfers.

FIN formats were developed by SWIFT, which was founded in 1973. Messages were developed to have a single common standard for financial transactions. The SWIFT format has now become the standard syntax for financial messages. Messages in the SWIFT format can be read and processed by most banks around the world, whether they are sent via the SWIFT network or not.

Nasarius has extensive experience of implementing FIN formats and has a long track record with various banks and corporations.

 A single point of entry to all banks

SWIFTNet enables you to outsource your bank connectivity to a service provider.

A SWIFT service bureau will then operate your bank connectivity solution vis-à-vis SWIFTNet on your behalf.

Nasarius helps your business to choose the right SWIFTNet option. You can either connect via your own infrastructure, a shared infrastructure or Alliance Lite owned by SWIFT.

– Nasarius helps corporations of all sizes to examine the value of SWIFTNet connectivity and to create a business case.

We evaluate the financial side of SWIFTNet connectivity as well as helping you to estimate the value of other benefits such as increased flexibility when it comes to changing banks. In the business case, we also include the non-quantifiable benefits and risks, and identify any single points of failure.

Nasarius can provide templates for a swift, smooth RFP process so that you choose the service bureau best suited to your needs. In recent years, Nasarius has been through several selection processes, and our consultants are perfectly equipped to help you make the right choice.

Safeguarding your money

We understand the importance of establishing a secure platform for communication between your financial system and the banks.

This awareness has evolved into quantifiable knowledge in the areas of encryption (message-level security) and security protocols (transport-level). We excel in establishing communication with a wide variety of encryption software.

This knowledge is complemented with excellent consulting skills when it comes to co-ordinating with your IT team and quickly adapting to your IT strategy, thereby adhering to your business-2-business working procedure.

Our knowledge of encryption covers:

PGP
AUTACK
RSA

Along with many other proven encryption algorithms, in addition to seamless integration with the software (SAFEX, etc.), which guarantees application of those encryptions to the payment messages.

We have extensive knowledge of implementing interfaces using different kinds of business-2-business secured transport protocols:

VPN/FTP
SFTP
HTTP(s)
MQSeries
Webservice