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
- Configurable responses and actions to validation issues.
For example, If the customer’s name in the payment file doesn’t match that of the entry in the
customer’s database, the system may be configured to “Warn” about this error but accept the file
anyway. However if the customer’s unique identification number doesn’t match the database, the owner
may configure this validation to be “Fatal” and not allow the transaction file into the system.
- Readable, user-friendly response and status information regarding the processed
file, in particular where errors have occurred.
- Comprehensive User Security allowing the owner
to specifically define the functional privileges of an operator. There is a full audit trail
available to keep track of all operator activities.
- Secure domain controlled SQL database access.
- Flexible user security structure. Bank*Link® allows you to
define a multitude of user definitions. User security is split into three configurable areas.
- Function Groups
Permission access to specific functions within Bank*Link® can be grouped and
an appropriate function group.
- 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.
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.
- A comprehensive system configuration table allows the owner of
Bank*Link® to specifically tailor the behaviour of the system. Examples of such items are:
During which processes within the system should an operator be able
to recall, delete or edit transactions?
How many days before and after today’s date do you wish to
accept files into the system?
- If using Secure*Link®, what RSA key size do you want to utilise?
- Many static pieces of information can be stored into default tables.
Such items would include the default transaction type and indicators to be used for all new files
- Bank*Link® can be tailored in many areas to suit your own internal terminology.
For example, the different payment options (utilised for billing) can be tailored to present to the
operator in terminology they understand.
Billing, GST & VAT
billing structures allow the bank to bill customers based upon the
number of transactions, number of files or a fixed fee.
transactions are automatically generated and passed through the clearing stream.
- GST can be optionally set as immediate
(GST is charged whenever a billing transaction is generated) or accumulative (GST is accumulated until
a point in time, whether it be weekly or monthly, to reduce rounding issues).
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
flexible reporting structure that allows easy customisation for
report facilities allowing for the review of reports and information.
ability to export all data within a report to a variety of different
file formats for review within other systems (e.g. MS Excel).
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
- Different file formats can be accepted into Bank*Link®.
Presently, the system supports both industry standard file formats (APCA, Edifact) as well as bank
specific formats. A flexible and extendible structure has been implemented to allow for speedy and cost
effective implementation of new file formats.
- Bank*Link® is capable of receiving transaction files from several different mediums.
Depending upon what additional products are used, these include secure remote delivery (Secure*Link®),
web based delivery (Web*Link),
paper or list entry (Quick*Link),
directly from other external systems (Auto*Link), diskette and local/network drives.
- Different file formats can be specified for different destinations
for system output files.
- Direct interface to third party products for the communication of output files directly
to the next phase of the processing chain.
- Windows 7
- MS SQL or Oracle.