We have an extensive history and pedigree in delivering UK and International Lockbox services to leading banks and financial institutions with many clients benefitting from our service for in excess of 15 years.
The lockbox service consists of the receipt of cheques and remittances, opening, validating, scanning and outputting data to the client, whilst any associated cheques are then couriered to clearing for overnight processing.
A key element of the service is the ability to handle retail (cheque & standard BGC, also known as Standard Lockbox) and wholesale (cheque and non-standard remittance, also known as Non-Standard Lockbox).
Parseq has invested in the development of a fully integrated International Lockbox Managed Service, which allows customers to have payments received, reconciled and banked in any participating country and receive consolidated reporting by region and at overall company level.
Our Direct Debit Management Service delivers an automated Direct Debit setup, collection and management solution, underpinned by full compliance to AUDDIS regulations and Direct Debit rules, delivered by a highly commended BACS accredited bureau.
We can provide for you a paperless customer setup option, reducing the timescale for when the first collection can be made. You can create a range of payment plans with variable collection dates and features such as different first / last payments.
The system is swept daily to identify any new instruction and any payments due for collection. These instructions are automatically captured and sent to BACS.
All payments are submitted to BACS using Parseq’s BACS Accredited Bureau Service. Our submission software submits encrypted data over a secure connection directly to BACS.
Simultaneous Debits/Credits are processed on the agreed date ensuring Direct Debits are collected accurately and on time.
Our experienced payment processing team provides full support in the event that a Direct Debit cannot be collected. This includes full customer contact and representing the direct debit.
Benefits at a glance:
\ Automate your Direct Debit processes saving time and money. Typically the introduction of Paperless Direct Debits via the AUDDIS service saves in excess of 50% of your setup costs and allows earlier collections of your customers’ funds.
\ Take advantage of our validation routines upon customer setup ensuring the information collected is accurate and the debits can be processed.
\ Comply with all necessary Direct Debit rules ensuring collections are made as early as possible and indemnity claims are avoided.
\ Automate the production and despatch of all scheme letters which can be customised to your individual requirements.
We improve donation management using streamlined methods of processing and reporting on incoming donations and Gift Aid.
Donations can be received and processed by cheque, postal order, cash, credit and debit card also regular Direct Debit.
Specialist services for the not for profit sector include:
\ Gift Aid processing and reporting
\ CAF cards
\ CAF vouchers
\ White mail donations
\ Raffle processing
Our BACS Matching service is based on a strong technology platform supported by a range of flexible business rules, allowing us to cater for an extensive range of matching criteria.
A consistent challenge for customers who receive a high number of electronic payments is identifying the payment to the sales ledger and making the appropriate payment allocation.
We have a proven legacy, extending over 7 years, in delivering BACS matching services to a range of major corporate customers. Our system has been designed to receive bank statement files and remittance advice information and match transactions based on specific client rules.
Our approach offers the greatest degree of flexibility, providing a solution with the broadest customer reach and appeal. Once deployed and configured, our solution becomes an integral element of your account receivable process, supporting the longevity of the relationship between you and your customer.
Our technology engine is under constant refinement to build in intelligent routines designed to automatically match Remittances to Payments and eliminate time consuming and costly manual processes. This has enabled us to drive up the percentage of automatic matches (with no human interaction) from a starting point of 50% with most customers to over 80%.
Working with the leading parking service and enforcement providers, we deliver fines processing services allowing local authorities to collect fines quickly and efficiently. All services are delivered in a PCI compliant environment and infrastructure.
The scope of our services cover:
\ Mail receipt, opening & scanning.
\ Validation and banking of payments received.
\ Parking disputes
\ Freedom of information requests
\ Parking pocket book scanning
\ Document imaging and archive
\ Processing Management Information & Reporting