Different signatories, possible compliance checklists and the need to manually hook up with multiple banks is a situation that companies involved with 3rd party payments face every day. Then there is bookkeeping and reconciliation for each payment too……
Within this highly regulated, transaction-intensive space that is Treasury Management, Trident Connect is a game-changer.
Companies in this space manage a significant number of payments on behalf of third parties, more often than not in different currencies and regulated by different compliance regimes. Processing each and every payment is a time consuming and laborious process that is prone to error due to the different approvers and signatories typically involved, even before finally logging on to a variety of online banking platforms with different fobs for each client at each bank to affect payments. Then, after confirmation of each processed payment, there needs to be reconciliation and bookkeeping.
Trident Connect delivers significant value to organisations which carry out numerous payments on a daily basis by electronically automating the manual process of preparing, validating and approving local and international payments. The solution also connects with multiple banks directly or via Swift to execute payment instructions and download transactional data. It then performs a three-way reconciliation between the banks, itself and the accounting system.