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Payment Modernization

Simplifying payment modernization for banks and financial institutions

A Modernized Enterprise Payment Platform

ECS offers IMS, an integrated payment processing platform that addresses all aspects of payment processing from initiation to settlement, connectivity to transmission, pre-processing to clearing, settlement and post processing, and beyond to data governance, customer services, and reporting.

The building blocks of the platform include:

The fully functional service can be evaluated and acquired through our risk-free acquisition model whereby your various departments, stakeholders and users can review and sign-off on the features, functions and capabilities of the solution before making any commitments.

Credentials and Certifications

Payment Processing Uniqueness

IMS offers unique capabilities across three distinct levels and stages of payment processing ensuring a streamlined and efficient payment flow from initiation to settlement and beyond.

Three Levels of Processing:

  • Message Level Processing deals with integration, formats, schedules and connectivity protocols ensuring smooth communication between systems.
  • Transaction Level Processing tracks the State and Status of each transaction providing real-time updates and insights into transaction progress.
  • Account Level Processing manages positions and balances for nostro accounts, customers, bank fees, charges and more, ensuring accurate financial tracking.

Three Stages of Processing:

  • A series of Pre-Processing modules to prepare, validate, verify, qualify and to identify the most appropriate channel to minimize costs, reduce settlement times and meet compliance requirements.
  • Clearing & Settlement of each payment through the appropriate channel selected covering operational activities such as approval cycles, release controls, response management, event notifications, and exception handling.
  • Post-Processing Modules follow each settlement to update cash positions, balances, statement reconciliation, customer services, and reports providing up-to-date financial records.

AI-Powered Payment processing for Modern Banking

IMS Payments delivers advanced artificial intelligence across the entire payment lifecycle, enabling higher accuracy, stronger compliance, faster processing and complete operational visibility. These AI features support payment modernization initiatives and help financial institutions handle increasing volumes with reliability and confidence.

Smart Routing

  • Evaluates routing rules, historical performance, delivery timelines, fee structures and routing success to identify the most efficient route for each payment. This results in reduced rejections, faster settlement and significantly improved end to end processing quality.

Address Structuring and Data Enrichment

  • Converts unstructured or incomplete address data into fully structured fields aligned with ISO 20022 format requirements including street, town, city, state, postal code and country.

AI Driven Compliance and AML Monitoring

  • Identifies unusual transaction behaviour including high frequency patterns, large value bursts, new beneficiary risks, login irregularities and unexpected file volumes. These capabilities enhance compliance accuracy, strengthen fraud prevention and provide real time oversight on evolving risk patterns.

Liquidity Intelligence and Cash Forecasting

  • Analyzes historical cash movements and real time positions to forecast liquidity needs. It identifies the most efficient account from which to fund payments and helps reduce overdraft exposure while maintaining healthy operational liquidity.

Operational Monitoring & Regulated Self Healing

  • Continuously examines payment logs, workflow queues and response times across connected systems. When delays or pile ups occur, AI triggers alerts or takes corrective action based on previously successful resolutions. This improves reliability and ensures uninterrupted payment processing.

Dynamic Transaction Prioritization

  • Transactions are automatically prioritized according to urgency, value, customer segment and key cutoff requirements. This enables time sensitive payments to be processed more efficiently and improves overall service quality.

FX Intelligence for Multi Currency Payments

  • Evaluates currency fluctuations, volatility indicators and historical exposure to identify the best moment for conversion or hedging actions. This supports optimized foreign exchange decisions and reduces currency risk.

Automated Reconciliation and Exception Management

  • Accelerates reconciliation by matching records, identifying inconsistencies and supporting faster dispute resolution. This reduces manual work and improves the accuracy of financial reporting.

Customer Reviews on Values & Benefits

Some of the values, benefits and efficiency factors recognized by our customers from utilizing our integrated payment processing platform are listed below.

  • Environment: Streamline, Simplify and Optimize your Messaging and Transaction Processing environment
  • Infrastructure: Eliminate the need for fragile data mapping & transmission services that add little value to business or operations
  • Workflow: Minimize travel of data between systems reducing bottlenecks and failures.
  • Adaptability: Easily adapt to market practices, customer needs and counterparty preferences
  • Customer Onboarding: Rapidly onboard customers without disrupting core systems or adding heavy internal processing rules
  • Regulatory Compliance: Stay complaint with Regulatory needs, Network Validations, and new generation message standards such as ISO 20022 without disruptions
  • Stakeholder needs: Address the needs of IT, Compliance, Business, Operations, Back Office and  Customer Services.
  • End-to-end visibility: Provide complete visibility of all Messages and Transactions for IT departments and operations teams.
  • Internal Communication: Facilitate seamless communication between all platform ensuring smooth operations.
  • Automation: Enable automation for end-to-end processing with full visibility and control, minimizing the need for manual intervention, unless warranted.

Payment Modernization & Digitalization ~ FAQ

What is Payment Modernization?

Payment modernization is the process of enhancing/upgrading an institution’s payment infrastructure to meet market demands, comply with regulatory requirements, and adhere to international standards.

What is Payment Digitalization?

Payment digitalization is the process of enhancing the transaction processing experience between service requestors and service providers, minimizing or eliminating the dependency on cash and branch offices.

Why are banks modernizing their payment processing services?

Banks have a need to align with the user expectations of their customers, which can only be achieved by modernizing their payment infrastructure. A successful modernization will ensure compliance with  various aspects of digitalization as well. 

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Get in Touch

Talk to an ECS Analyst to explore our Risk-free acquisition model and to access an Evaluation Instance that may represent your needs.

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