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*Console 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*Console 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*Console 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*Console 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.

Security

• 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*Console allows you to define a multitude of user definitions. User security is split into three configurable areas.

1. Function Groups
   Permission access to specific functions within Bank*Console 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

• A comprehensive system configuration table allows the owner of Bank*Console to specifically tailor the behaviour of the system. Examples of such items are:
  1. During which processes within the system should an operator be able to recall, delete or edit transactions?
  2. How many days before and after today’s date do you wish to accept files into the system?
  3. 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 within Quick*Link.
• Bank*Console 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

• Flexible billing structures allow the bank to bill customers based upon the number of transactions, number of files or a fixed fee.
• Billing 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 e-mail addresses).

Flexible reporting

• A flexible reporting structure that allows easy customisation for specific requirements.
• Preview report facilities allowing for the review of reports and information.
• The ability to export all data within a report to a variety of different file formats for review within other systems (e.g. MS Excel).

Electronic Dishonours

Bank*Console 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

• Different file formats can be accepted into Bank*Console. 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*Console 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.

Outputs

• 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.

Bank*Console Environment

• Windows 7
• MS SQL or Oracle.