WAY4 Multiple Financial Institutions

 

Functionality

Individual Parameters for Financial Institutions

Clients and accounts records
Independent set of identifiers for clients, accounts, cards, and terminals
Products, accounting and billing parameters may be configured individually or inherited from the parent institution
Currency conversion rates
User access privileges
File export and import
Daily procedures
Country code, local currency, time zone, banking date
Set of currencies, FX rates, FX rate history, multiple rate types (buy, sell, middle, etc.)
Customer and GL data

Various Inter-Institution Clearing Schemes

Independent financial institutions
Internal clearing via principal institution
Multi-level hierarchy of institutions
Multi-currency clearing and settlement between two institutions using FX rates defined for each institution
Multi-currency clearing and settlement through a central institution using FX rates defined for each institution
Automated charging of fees for inter-institution clearing and settlement
Real-time limitation of a financial institution's total transactions amount to its deposit in the principal Institution
Different inter-institution clearing schemes may co-exist within a single WAY4 system configuration
Interchange routing rules and internal clearing rules determine a particular clearing scheme for a transaction
Clearing scheme selection may depend on a counterparty institution, a card scheme, a currency, etc.
Identifiers for clearing with external payment systems
Routing is based on a combined Visa, MasterCard, AMEX, Diners, JCB BIN/MBR table with specific user-defined BIN ranges for the bank's own issuing products
Routing priority is defined for cases of multiple routing options
Inter-institution authorisation and clearing

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