Safe, Efficient Economically Viable Payment Possibilities through Central Banks
Facilitate efficient, timely and safe payments for customers of banks, credit unions, electronic money institutions and other entities you regulate.
As the world economy grows more complex, central banks are being thrust into new roles in global payments and settlement.
Payall’s compliance-first commitment, along with our breakthrough software and infrastructure, enables Central Banks to assume an expanded role in promoting safe, efficient and economically viable payment possibilities—with emphasis on cross-border payment inclusivity for all.
Working with Payall, Central Banks can offer an invaluable service that enhances product capabilities for the entities they regulate and ensures that valued cross-border payments are widely available to all that need and rely on them.
Streamline Critical Functionality
Automate the application and boarding processes for the entities you regulate.
Payall’s Payment Orchestration engine and global partnerships overcome the limitations of your current, likely inflexible, payment operations, enabling dynamic digitization of all processes—including application and boarding—to improve the experience and results for all participants.
Overcome Blind Spots in Your Regulatory Oversight
Apply "see-through" and pre-transaction controls for unprecedented transaction transparency and ecosystem risk control.
Payall's Know Your Transaction innovation, XB Precision KTY™, delivers comprehensive source data on disbursers and senders—as part of a transaction or anytime—so you can examine everything about a transaction and its originator and take appropriate actions, such as initiating an audit, examination or further inquiries.
And, our XB Consent solution offers additional information, enabling you to efficiently and in real time view and/or collect recipient data that’s never before been easily accessible.
Screen Transactions before They’re Executed
Apply your custom rules and requirements to transactions before execution.
XB Precision KYT™ also enables you to apply your own custom rules and requirements to transactions—along with those of the other payment participants, including the Originating Institution, Clearing Institution and Payment Channel.
No transaction is executed unless all parties’ rules and requirements have been met, so there’s no scrambling after the fact to attempt to obtain missing information. And all data, documents and artifacts are stored electronically for easy accessibility for audits, exams and reporting.
You also can configure risk parameter analytics to take appropriate actions to protect the safety and soundness of each payment while in-flight. This includes triggering data collection to substantiate the legitimacy of transactions with data, documents and artifacts, or suspending, blocking or rerouting transactions for further analysis.
Safely Open Your Domestic Payment Rails to Foreign-Initiated Payments
Deliver funds quickly, safely and efficiently to individuals and businesses.
Central Banks are becoming increasingly more active in domestic payment enablement, independently or in conjunction with a domestic payment network.
Payall’s compliance and risk automation supports Central Banks moving into this role with confidence to improve B2B, B2P and P2P remittances.
Expand the Number of Regulated Entities Participating in Cross-Border Payments
Proactively address the challenges of the declining number of correspondent banks.
Worldwide, the number of correspondent banks is declining, as regulators prompt all but the largest to exit what they consider the risky business of cross-border payments.
This situation has created challenges for smaller financial institutions that have historically facilitated cross-border payments for businesses and individuals. In some locales, the situation is dire, leaving SMEs and consumers no choice but to circumvent mainstream payment channels.
Payall levels the playing field, so any regulated entity approved by you and our partners can offer cross-border payments, cleared and settled globally, to its customers—without the need for correspondent banks. We offer a choice of deployment options, including an API interface that you or your regulated entities can white label with the brand of your choice.
And, recipients can receive their payouts in the form they choose, including transfers to bank accounts, mobile money, digital accounts, OCT to cards, prepaid debit cards, white-label accounts or even cash pickup.
