Payment processing and efficiency solutions
Financial services
Document production, management and payment processing. We integrate seamlessly into global tier one banking organisations, agency and challenger banks, building societies and local in-country finance houses to save them money and time.
From same-day secure document production and payment processing to speeding up customer applications, the integrity of our multiple layered solutions is relied upon to improve customer experience whilst adhering to strict governance and compliance and ensuring business continuity.
Don’t let legacy systems and processes restrict your future.
Having solved the processing and efficiency issues of major banks and financial service organisations for over 45 years, we understand the ever-changing pressures and issues they face. Manual document management and payment processing is slow and tedious. Not only does it waste time and resources, but it can significantly limit cashflow.
In addition, manual processing is prone to errors, which can lead to unnecessary customer complaints and penalties from regulators. Security and control of data too is paramount and cannot be compromised. On and offline fraud prevention is an increasingly complex requirement.
Process automation can improve accuracy and speed and transform your capability to compete more efficiently with disruptive entrants to the market. However, when customers’ needs are rapidly changing, you must be able to deal with multiple digital and non-digital formats and channels. The necessary technology may be too expensive to purchase or to integrate into legacy systems and difficult to justify in a declining market, such as cheque processing.
Business process optimisation can be challenging. We understand the complex issues you must overcome and that’s why our service and solutions address them.
The challenges of document management and payment processing for financial services
Time and cost
Manual processing is inefficient and prone to costly mistakes and in-house service costs are increasing.
Compliance
Tougher regulation punishes errors and slow processing.
Legacy tech
The necessary tech for automation and digitisation maybe too expensive and complex to purchase.
Customer needs
Demands, channels and formats are changing and must be met, or new competitors will win.
Security
Financial, IT security and control is complex but cannot be compromised.
HR
Recruitment, training and attrition on repetitive or specialist processes.
Our capabilities
The efficiency and agility to revitalise your future
From document production and payment processing to improving efficiency of customer applications. Our solutions integrate seamlessly into your operations.
Our financial clients have been with us for 45 years for a reason. We have created optimised workflows and automated processes to save time and improve cashflow, reduce mistakes and create significant, enduring value. We print 83 million cheques and credits process around £36 billion payments every year.
With forms scanning, digitising and data extraction capabilities, we have significantly reduced processing time and errors, to help some organisations increase the number of accepted applications or direct debit mandates, so they benefit from improved cashflow and reduced costs.
Some financial services clients use us to provide a range of accurate and timely customer payments, communications and fulfilment, to improve customer services and drive down costs.
For one client we process approximately 298,000 cheques per annum across eight countries. We deliver secure lockbox facilities for them, enabling them to accept cheque payments from their corporate clients. We process these in our shared service centre, so they benefit from significant efficiency and cost savings.
They also mitigate their risk by using us for cheque processing rather than having to invest in what is an important but inevitably ageing payment system. We process around £40m of cheques each year.
For all clients we guarantee efficiency and peace of mind, through stringent security protocols that remove the burden of compliance. They can also depend on us for business continuity. During the pandemic, with our agility and multiple sites, we hit all of our Service Level Agreements.
Digital Mailroom
Mailroom management and digitisation of all inbound customer communication for onward distribution, upload to online portals or relevant processing duties.
Cash Allocation
Multiple payment channels allocated to appropriate customer accounts through automated or manual activities.
Credit Management
Full Credit Management services including invoice production, voice contact, query investigation and resolution to industry leading KPIs.
Cheque Bureau, Processing & Lockbox
Specialised cheque imaging, processing, with complex exception handling, look-ups and return management.
BACS End-to-End
Full BACS payment instruction and processing, along with enhanced validation for multiple customers.
Secure Print
Secure print bureau services provides a ready solution for remediation payments particularly for service outages.
The benefits
99.9% Accuracy
Right first time
Our technology increases accuracy but our exceptions protocol near guarantees it. Better results. Happier customers.
Speed
95% Same day processing
With levels of over 90% automation, we provide payment processing for over 75,000 SMEs on behalf of banks, through digital and non-digital channels.
Compliant
Assured
Our systems, protocols and strict SLAs assure compliance and regulation are adhered to. View our certifications here.
Cost
30% Less
The economies of scale, efficiency and automation of our services mean you could drive your current costs down by 30%
Technology
Without capital investment
Mitigate risk as we invest in the technology and systems you need now and in the future. We’re not confined to one platform or software, so neither will you be. We deal with multiple formats.
Continuity
Guaranteed
We have multiple onshore and offshore sites to ensure your business continuity. Even through Covid we met all our SLAs.
Featured news & resources
PARSEQ awarded a place on the CPC payroll framework
We are delighted to share that Parseq has been awarded a place on the Crescent Purchasing Consortium (CPC) framework for HR, Payroll and Employee Screening Framework …
The Big Business Efficiency Report – FREE whitepaper download
Find out how businesses are accelerating their transformation plans in our Big Business Efficiency Report.
Talk to us about our financial services today
Want to find out more? We would be happy to discuss your organisation’s challenges and how Parseq’s solutions could quickly provide you with real value.
