Empowering FinTech Innovation!

aplonCASH

The complete Digitization and Automation of Payments Authorization & Fulfillment creates 200.000€ in Annual Profits!

A leading Insurance Group implemented a complete FinTech Banking Transactions Platform (Treasury Management System - TMS), utilizing SEPA (Single European Payments Area). aplonCASH is now the only system used, for the management of Banking transactions

across all the companies of the group. As such it provides a completely digitized & automated interface towards all banks, for the Treasury Division.

YourTreasury

Transformedto a FinTechProfit Center

aplonCash

Receivables

Balances

Payments

Insights

Corporate Bank Accounts

Corporate ERP Other Corporate Core Systems

The Need› The group handles over 200.000 payments transactions annually, with counterparties clients, partners

and suppliers, using bank accounts across the Eurozone.

› These transactions were, primarily, fulfilled through the issuance of bank cheques and to a lesser extent through the usage of multiple Web banking Sites manually.

› When using a bank cheque it has been calculated that the time from issuance & manual authorization, mailing, until the receipt by the counterparty was on average 15 days.

› Furthermore cheques of minor value (up to 30€), were usually not cashed due to the cost of facilitating the transaction (the payee had to physically visit a branch). This led to client frustration & friction, as well as increase in unclaimed cheques, which is classified as credit risk from the issuing bank!

As a direct result of the complexity & fragmented management of payments several issues affected the Insurance group, as well as it’s clients & partners:

› Significant operational cost for the management of bank cheques leading to poor Financial transactions experience for clients

› Inability to trace issued bank cheques, severely hindering the Working capital forecasting process

› Perceived “Financial Credit Risk” due to the large number of unclaimed bank cheques in circulation

› High Cost due to a large number of Inter-Banking Transactions, affecting both the Insurance group (approx. €75.000/annum), as well as the payee (approx. ~€2-4/transaction)

› Complex, Time Consuming & Error prone management of multiple Web Banking interfaces / systems

› Partial depiction of the group “Financial Cycle”, severely hindering the timely & accurate forecasting. This is directly affecting the ability to make Business Decisions, based on the available Working Capital.

ERP – Auto

ERP – Life

ERP – other

Web Banking

Web Banking

Web Banking

Cheques

Cheques

Cheques

The solutionIt was evident, that the adoption of a modern FinTech solution, to automate & digitize the management of payments was necessary in order to streamline the process & become part of the ongoing Digital Transformation project of the group.

Payment Components provided the aplonCASH TMS solution & worked closely with the Treasury Department & the IT division to implement a smooth transition in the Treasury FinTech era!

The aplonCASH Treasury Management System (TMS) offers:› Consolidated management & monitoring of all payments across the 6 companies of the group, under a

unified FinTech platform.

› Same day payments

› Minimize number of Inter-Bank Transactions & relevant costs.

› Full Compliance with the SEPA directives

› Complete control of available funds per bank through the optimal Payments Routing mechanism & rules.

› Fully automated, two way, M2M communication for the transmission of payment orders & the receipt of bank responses

› Detailed & actionable Insights via BI dashboards, depicting the entire “Financial Cycle”

› Digital “4 eyes” authorization workflow process

› Accurate & complete audit trail

ERP – Auto

ERP – Life

ERP – other

aplonCASH UI

aplonCASH

BenefitsSince the very first day the aplonCASH TMS became operation, significant benefits were immediate & measurable:

For the Insurance Group› Reduce cost of Inter-Banking transactions by at least €75.000 annually, through the use of Optimized

Payment Routing rules.

› Switch to digital transactions – almost eliminating the need for manual issuance of cheques. This is expected to reap cost savings of €125.000 in 2017.

› Eliminate the flow of unclaimed cheques & the perceived “Financial Credit Risk” it created.

› Speed up and Streamline the entire workflow to authorize & issue payments

› Complete & Accurate audit trail enabling full transparency of the payments process

› Significantly reduce time to detect & respond to potential issues (e.g. wrong IBAN payee number), leading to same day resolution

› Ability to create & update an accurate Working Capital forecasting model

For clients & partners› Eliminate Inter-Banking transactions costs

› Same day payments

› Digital transactions don’t require Branch presence to receive the payment

› Immediate detection of IBAN related issues & support from the Insurance company

Are you ready to bring your Treasury to the FinTech era?

Contact us to show you how aplonCASHtransforms the Treasury to a Profit Center!

64 Princes Court , 88 Brompton Road , Knightsbridge, London SW3 1ET, United Kingdom Tel. : +44 2071172538 | www.paymentcomponents.com | @paymentcomp