SmartStream Technologies unveils Corona Retail Payments Control product
Transaction lifecycle management company SmartStream Technologies has launched its Corona Retail Payments Control in order to improve operational efficiencies for retail clients.
The launch comes at a time when many financial institutions are finding it challenging to manage retail payments owing to the lack of automation and dependence on a mix of spreadsheets, databases and paper processes.
SmartStream Corona business unit head Christian Schiebl said: “The climate in which players are competing is exceptional while revenue per transaction is declining.
“Pressure from financial regulators is increasing all while card schemes, consumer protection bodies and fraud prevention agencies are all adding to the complexity and expense of doing business.
“Our solution provides full monitoring of the entire transaction lifecycle during the settlement of funds, charges incurred for services delivered, as well as interbank and intrabank transactions, a total end-to-end solution, something the market truly needs at this crucial time.”
A reconciliations and exceptions management product, Corona Retail Payments Control is designed to automate reconciliations processing and exceptions handling, which enables clients to reduce costs, mitigate risks, improve client value and deliver operational control across the entire retail payments transaction lifecycle.
According to the company, the tool supports multiple kinds of retail payments and provides a control layer for greater visibility into transaction processing in real-time.