How does Fennech’s payment orchestration system work?

Fennech Financial's Payment Orchestration System uses its cloud-based F³ (Fennech Financial Framework) to automate and streamline financial operations. It integrates features from Core Banking Systems, ERP, and Treasury Management Systems for enhanced efficiency and control. Key functionalities include: Digital Contracts & Smart Transactions: Automate transaction execution and settlement. Auto Payments: Process large-scale payables and receivables with customizable rules. Reconciliation Manager: Automatically match incoming payments with ledger transactions. Virtual Accounts: Simplify account management and reduce banking costs with unlimited virtual accounts. Integration Flexibility: Seamlessly connects to existing systems, banks, and APIs, supporting real-time operations across geographies and currencies. This system optimises payment workflows, reduces manual intervention, and improves operational efficiency for businesses.

Is Fennech a Treasury Management System?

Fennech Financial is not a TMS although you will find that some of our solutions extend in the capabilities often found in TMS. Instead we act as a middleware between TMS, ERPs and banks allowing businesses to seamlessly integrate with Payment, Treasury, and Banking solutions helping to bring visibility, control, and end-to-end automated processing into existing infrastructures with minimal human intervention.

What is Fennech Financial and what services do you provide?

Fennech Financial is a Next-Gen Corporate Banking Platform as a Service. We deliver Hyper-automation of Finance, Treasury, and Payment solutions in real time on One Platform, The Fennech Financial Framework (F³). Our ultimate goal is to help you automate and optimise financial workflows to enhance efficiency, accuracy, and compliance in treasury and financial operations. You can use as many or as little of our solutions to suit perfectly your requirements. Find out more by exploring our solutions.

Real-Time Payments: Transforming Business Operations

Real-Time Payments (RTP) are instant money transfers between banks, 24/7. Businesses benefit from RTP by improving cash flow and streamlining operations. Payments are cleared in seconds, reducing delays and enhancing customer satisfaction. RTP also cuts down on errors and fraud, making transactions safer. Businesses can manage finances better, gaining a competitive edge in todays fast-paced market.

Chief Revenue Officer

Melina Moussali

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Discover How Real-Time Payments Transform Business Efficiency.

Understanding Real-Time Payments (RTP) and Their Benefits for Businesses

What are Real-Time Payments?

Real-time payments are a way to transfer money instantly between bank accounts. Unlike traditional methods, which can take hours or even days, RTP allows funds to move in seconds. This system operates 24/7, meaning transactions can be completed at any time, even on weekends and holidays.

How Does RTP Work?

RTP systems use digital technology to process payments quickly and securely. When one party sends money, the funds are immediately available to the recipient. This process is transparent, and both parties receive instant confirmation.

Benefits for Businesses

Improved Cash Flow: With RTP, businesses get paid faster, improving their cash flow. This means they can reinvest in their operations more quickly, pay suppliers on time, and reduce the need for short-term borrowing.
Enhanced Customer Experience: Customers appreciate the speed and convenience of RTP. Whether paying for goods, services, or refunds, the instant nature of RTP can increase customer satisfaction and loyalty.
Cost Efficiency: RTP can reduce the costs associated with traditional payment methods, such as cheques and bank transfers. There are fewer processing fees and less manual handling, which can save businesses money.
Better Financial Management: Real-time payments provide businesses with a clearer picture of their financial status. Instant updates on incoming and outgoing funds allow for more accurate budgeting and forecasting.
Reduced Fraud Risk: RTP systems often come with advanced security features, reducing the risk of fraud. With immediate transaction confirmations, businesses can quickly detect and respond to any suspicious activity.

Impact on Business Operations

Supply Chain Management: Faster payments can streamline supply chain operations. Suppliers are paid promptly, which can lead to better terms and relationships. This efficiency can also reduce inventory costs.
Payroll Processing: RTP can simplify payroll, allowing businesses to pay employees instantly. This is particularly beneficial for gig economy workers or employees in need of emergency funds.
International Transactions: For businesses dealing with international payments, RTP can significantly reduce the time and cost of cross-border transactions. This makes it easier to do business globally.
Vendor Relations: Timely payments strengthen relationships with vendors and service providers. This can lead to better deals, discounts, and priority service.
Customer Payments and Refunds: Offering RTP as a payment option can attract customers looking for quick and easy transactions. Additionally, handling refunds promptly can enhance customer trust and satisfaction.

RTP is transforming how businesses handle their finances. By enabling instant, secure transactions, RTP improves cash flow, reduces costs, and enhances overall efficiency. For both SMEs and large enterprises, adopting RTP can lead to significant operational benefits and a competitive edge in the market.