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Bank*Link® has been designed over many years with the assistance of several Australian Banks. It is a comprehensive electronic payments processing and clearing application, with an industry standard SQL database as the heart of the system.

In 2011, SeS has implemented in conjunction with it's clients the Low Value Settlement Service (LVSS) specified by the Reserve Bank to enable more frequent settlements of low value clearing obligations. In 2014, SeS implemented the APCA ISO 20022 payments schema in Bank*Link® in anticipation of further changes to be made to payment processes as APCA and The Reserve Bank continue to implement changes in accordance with the Reserve's Strategic Review of Innovation in the Payments System announced in 2012.

Bank*Link® provides the owner with the ability to offer state of the art payments clearing facilities whilst retaining the flexibility of a fully configurable environment that can be easily customised by their own internal operations people.

Bank*Link® is configurable and can be tailored to process any payments clearing stream. The Australian version has been closely built around the CS2 “Bulk Electronic Clearing System” or “Direct Entry”. In Europe, Bank*Link® has been tailored to process the EDIFACT file format, indicating the adaptability of the product.

Specifications / Features

Powerful file validation/verification & reporting

Security

  1. Function Groups
    Permission access to specific functions within Bank*Link® can be grouped and labelled as an appropriate function group.
  2. User Groups
    Specific user groups can be defined which contain one or more function groups, with the ability to add one or more individual functions to a user group.
  3. Users
    Individual operators of the system are defined here. A user can be defined to include a combination of User Groups + specific Function Groups + access to additional specific functions.

Flexibility

Billing, GST & VAT

Comprehensive Customer Database

Each customer can be uniquely defined within a customer database module. Configurable information includes the type of transaction file the customer can send (Credit, Debit or Both); the method of payment the customer will use (PDC, Cash, Cheque); any limits that apply for this customer (per Transaction, Batch, Period); accounts valid for this customer to balance from; accounts to be used to create fee transactions or balancing transactions; the contact details for this customer (names, phone numbers, fax numbers, postal addresses and e-mail addresses).

Flexible reporting

Electronic Dishonours

Bank*Link® has an optional Electronic Dishonours module specifically tailored to suit the Australian CS2 – Bulk Electronic Clearing System. This module can be used to validate, accept or refuse incoming returns, initiate returns from original transactions, and processing of refusal transactions.

Inputs

Outputs

Bank*Link® Environment