From cheque clearance to fund transfer to wage disbursement – Raqmiyat has been simplifying payment operations for financial institutions in the UAE over the last four decades. Today, we’re the end-to-end partner for all payment solution needs for leading banks in the region.
Payment Systems
One Partner - Multiple Payment Suite Possibilities
Overview
Architecting Payment Systems Simplicity
Our comprehensive payment suites and individual solutions have enabled over 40 leading banks to streamline operations, swiftly address customer demand, and achieve significant savings in IT support costs.
Our Payment Solutions Umbrella For Banks
Robust Cheque Clearing Solution
Image Cheque Clearing System (ICCS) Connect Suite
Advanced Wage Protection System
WPS Connect
Secured Fund Transfer System
FTS Connect
Direct Debit Payments
DDS Mubasher
Streamlined Reporting Tool
Taqreer 360
ICCS Connect Suite
Integrating Speed & Agility In Cheque Clearance
We engineered our first cheque clearing system in 1994, and over the years, have gained significant domain expertise in providing such image-based solutions to the banks in UAE. Today, the latest version of our ICCS Connect Suite is leveraged by leading banks in the UAE.
Bringing end-to-end solutions for image-based cheque clearing, the suite comes equipped with functionalities for all steps involved with clearing. These include – outward clearing, inward clearing, return of outward, return of inward, post-dated cheques, onus cheques processing, corporate cheque capture, and reconciliation.
ICCS Connect. Net
At The Core Of The Ecosystem
Leveraging the experience and R&D into image-based cheque clearing, we have launched the state-of-the-art and web-enabled “ICCS Connect.Net”. The ICCS Connect.Net is a functional and technical re-engineering of Raqmiyat’s existing ICCS Connect application.
We have architected the solution studying the evolutionary track of ICCS Connect, user feedback, and best practices across banks, incorporating an array of features and performance benefits into ICCS Connect.Net.
- CMMI Level practices followed in product design, development, and testing
- Multiple UATs through automated testing tools for a robust solution
The outcome is one comprehensive solution where all requirements like three-digit bank codes and special clearing can be met. This gives you a multi-fold experience in terms of operational efficiency, user-friendliness, simplified deployment capability, management reporting, and higher RoI.
ICCS Connect Product Modules
Corporate Module
State of the art web-based solution for Corporates extending ICCS Connect capabilities like cheque image capture and data correction.
The upgrade offers a host of benefits to corporates including real-time dashboards, Scanning post dated cheques, and digitally warehousing these images until the date of cheque clearing, withdrawal, and date extension of post-dated cheques.
Additionally, benefit from ICCS Corporate
- Enables faster onboarding of new corporates
- Enables faster access to funds
- Reduces excessive consumption of resources and time- to improve efficiencies and cost
- Enables faster presentment of cheques to Central Bank within a stipulated time frame
Auto FTP Module
Fully automates the steps involved in uploading and/or downloading envelopes and acknowledgments from the Central Bank of the UAE.
Additional benefits from ICCS Corporate Module
- Is a multi-threaded application with the facility to allocate a separate thread for one or more file types
- Automates upload of outbound and inbound envelopes
- Has a definable user-ID, password, and port for each file type
- Provides automatic/unmanned processing of incoming/outgoing files and acknowledgments
- Functions with minimum manual intervention
PDC Module
State of the art web-based solution for Corporates extending ICCS Connect capabilities like cheque image capture and data correction. The upgrade offers a host of benefits to corporates including real-time dashboards, Scanning post dated cheques, and digitally warehousing these images until the date of cheque clearing, withdrawal, and date extension of post-dated cheques.
Brings a host of benefits such as
- Lodgment of PDC’s – Capture and store items in the system
- Withdrawal – Withdraw items previously lodged
- Deferment – Change presentment dates
- Presentment – Generate movement of items to DUE status
- Returns processing
- Sorting (additional infrastructure required)
- Foreclosure
Recon Module
- Reconcile physical cheques with the images in your ICCS solution.
- Automate the physical reconciliation of outbound and inbound cheques.
- Also benefit from schedule and tracer generation along with the functionality to keep track of the status of items.
- This software in combination with the Burroughs NDP Quantum series system with multiple pockets will help you in the sorting and reconciliation of cheques. These systems are available at speeds of 200, 300 and 600 documents per minute.
ICCS Dot Recon
The ICCS DOT (Day One-Two) RECON module is a separate module within the ICCS Connect suite which caters to the reconciliation of the files received from the Central Bank at the end of every settlement date against the data available in the ICCS Connect application at the member bank.
Applicable to outward and inward clearing cheques, it provides banks with a host of reconciliation reports and an accurate update of all processed cheques for the four cycles and a comparison with the data provided by the Central Bank.
Fund Transfer System (FTS Connect)
Transfers – Enriched With Superior Functionalities
FTS Connect empowers financial institutions to participate in the UAEFTS cycle and leverage the rich functionality offered by the product to improve overall operational efficiency. The key function of the system includes Origination, Credit, Refunds.
Features To Streamline Every Transfer
System designed to maximize straight-through processing (STP)
Allows manual Intervention in case of STP Failure
Elaborate dashboard for real-time monitoring of transactions
Configurable rules for validation of transactions initiated
Easy interfacing with SWIFT/other file formats
User Audit Trail for Masters & Transactions
Maker/Checker approvals for financial transactions
Comprehensive reports for Daily MIS & Reconciliation
Inbuilt Interfaces Crucial To The Operational Efficiency
- CSV Adaptor
- Standard SWIFT File adaptor
- File generation adaptor
- Automatic File transfer Adaptor (AutoFTP)
- Standard UAEFTS to SWIFT Adaptor
DDS Mubasher
Automating Settlements Of Debit Payments
DDB Mubasher enables the financial institutions to act as Sponsoring/Paying Banks for the presentment and settlement of Direct Debit Payments. The key functions of the system are – Originator Administration, DDS Administration, DDS Payments, EOD Reconciliation.
Taqreer 360
Secured & Convenient Reporting For Efficient Audits
Our Intuitive & Intelligent reporting solution allows the banks and financial institutions an automated safe, secure, and convenient method of submitting credit reports to Al Etihad Credit Bureau.
Fully compliant with the specifications provided by the Al Etihad Credit Bureau for the implementation of reporting credits in the UAE, Taqreer 360 is designed to introduce various value-added features & functions.
The key process covered are – Subject submission, Contract submission,
Subject update, Contract update, Portfolio transfer.
