Payment controls: features & benefits
Combining real-time monitoring, alerting and blocking of sent payments with independent daily reporting.
- Real-time, 'in-flight' monitoring of the payments you send
- Intelligent technology that learns behavioural patterns over time, supporting continuous improvement
- Secure, SWIFT-hosted service with zero footprint and instant switch-on
Mitigating fraud risk and building a safer, more secure future:
- Stop high-risk payments in real-time
- Mitigate regulatory and reputational risk
- Improve payment speed, transparency and reliability
- Complete independence from your internal back-office systems
- Provide business assurance to counterparties
- Alert coverage of key payment messages MT103, MT202 and MT202COV
Alerting & reporting
Combining real-time monitoring, alerting and blocking of sent payments...
Payment Controls offers validated, correspondent-focused models and indicators. You choose how you use these, aligned with your risks and operational processes. Its flexible, easy-to-use interface supports fine-tuning as policies and risks evolve.
Payment Controls will alert you when any payment triggers a rule. You can configure any rule in one of three operational modes:
- Alert-only mode: the triggering payment message will be delivered to your receiver, without interruption, and an alert will be generated simultaneously. You can investigate this alert and undertake any necessary response and recovery activities.
- Manual review mode: the triggering payment message will be held in-network by the service and an alert will be generated for your review and investigation. You decide whether to abort the message or release it for delivery.
- Auto-action mode (future enhancements): the triggering payment message will be automatically aborted and an alert will be generated simultaneously.
... with independent daily reporting
Payment Controls reporting provides an independent record of your inbound and outbound payment activity, enabling you to validate whether your in-house payment system's record of activity is correct.
- Validate activity: quickly assess and validate inbound and outbound payment flows. Daily activity is aggregated by message type, currency, country and counterparty, enabling easy comparison with internal reports from core systems. Daily value and transaction references help you match individual transactions for more detailed validation.
- Assess risk: highlight large or unusual message flows that may indicate fraud risks. You can review new or unfamiliar counterparties or counterparty combinations, including nested activity. Transactions sent or received outside of user-defined business hours are highlighted.