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The complete Digitization and Automation of Payments
Authorization & Fulfillment creates 200.000€ in Annual Profits
for a ...
The Need
› The group handles over 200.000 payments transactions annually, with counterparties clients, partners
and suppli...
The solution
It was evident, that the adoption of a modern FinTech solution, to automate & digitize the management of
paym...
Benefits
Since the very first day the aplonCASH TMS became operation, significant benefits were immediate &
measurable:
Fo...
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aplonCASH TMS Insurance Case Study

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Your Treasury Transformed to a FinTech Profit Center!
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.
Learn More at http://www.paymentcomponents.com/aploncash/

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aplonCASH TMS Insurance Case Study

  1. 1. The complete Digitization and Automation of Payments Authorization & Fulfillment creates 200.000€ in Annual Profits for a leading Insurance Group! 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. Your Treasury Transformed to a FinTech Profit Center aplon Cash Receivables Balances Payments Insights Corporate Bank Accounts Corporate ERP Other Corporate Core Systems
  2. 2. 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 significantly higher than the comparable epayments time. › Furthermore cheques of minor value, 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
  3. 3. The solution It 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
  4. 4. Benefits Since 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 aplonCASH transforms 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

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