Benefits of High Value Payment Monitoring

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high value payment monitoring

Maintaining visibility of high value payments and the status of  key accounts is essential for the reputation and trustworthiness of financial institutions and intermediaries.  A high value payment monitoring system has many benefits including preserving customer trust and upholding a good reputation. Monitoring performance can improve your cash flow and prevent financial loss as you keep track of payments by location and time. 

Risk assessment check 

An advanced high value payment monitoring system like IR Transact will help your customers keep up to date with current risk assessment of clients and countries.  Dynamic global conditions means that you can’t set and forget your payment settings.  High fund transfers and invoices are susceptible to illegal activities such as money transfer to sanctioned individuals or bodies and money laundering.

Keep your customer compliant and avoid any reputational damage that may occur inadvertently with payment monitoring that specialises in high value payments. 

Keep payments on track 

Avoid bottlenecks and processing hold ups with real time monitoring of queues and volumes, and receive alerts to any anomalies that are likely to cause disruptions.  Downtimes are reduced when action can be taken to ensure payments are processed accurately and on time.  High value payment monitoring follows payments as they progress, providing overall transparency of deposits, withdrawals and transfers as they occur. 

Transaction management

Data analysis in real time helps your customers monitor transactions, including by user, transaction or location.  With ongoing payment monitoring clients can trust their high value payments will be conducted accurately and arrive at their destination on time. Downtime and outages are pro-actively monitored and any issues resolved, providing the security needed for high value transactions. 

Data analysis 

Monitoring systems such as IR Transact are built upon solid infrastructure that provides customisable options to users and can adapt to changing needs. Data analysis built into the programme provides performance metrics for each layer and information about payments that can contribute to business decision making. Dashboards contain options for displays of the data you need to see.  Automatically generated reporting on system performance provides actionable insights to allow improvements to your business processes where required. 

Metrics can include costs and rates of transactions and authorisations, chargeback ratios and 3DS activation. 

Compliance confidence 

The most functional high level payment monitoring system will be able to adapt to changes in regulatory compliance as they occur, updating to adjustments in regulations and policies without disruption to transactions. Financial regulations are subject to continuous change and twenty four hour monitoring ability ensures fraudulent transactions are immediately alerted to, and all regulations are complied with for every transaction. 

High payment monitoring is the best way to control all high payment transactions.  Monitoring software provides visibility and transparency for all types of monetary exchanges.  Data analysis allows companies to assess procedures and processes and monitor performance metrics.  The software will keep checks on client and receiver risk, and send alerts when anomalies are detected.  Keep your customer’s trust and ensure seamless, timely payments for all your high level transactions.

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