miBilling
miBilling provides a comprehensive platform for configuring billing and posting logic including setting up complex billing and statement rules for straight through processing with no manual intervention.
The Billing Engine provides the following key functionalities:
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Define account settings
- Billing cycles (monthly, weekly etc.)
- Billing hierarchies across Relationship Groups
- No. of retries
- Period between billing and collection
- Sequence of accounts to be tried for recovery – redirection of accounts
- Ability to configure billing & posting logic based on multiple configurable parameters; eliminating the need for manual intervention.
- Ability to automate and separate Billing and Collection entities based on configurable rules.
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Consolidated Billing and Invoicing
- Consolidated Single Statement across the entire relationship at both Relationship Group and individual Customer level
- No manual intervention and all charges computed based on configured pricing rules within the product, package or relationship group
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Invoice Creation and Presentment with varied options as per the requirements
- Net Fees to Interest paid
- Lump sum charges vs. Split Groupings (Transactional/ Product)
- Multiple options of debundling / invoice to different entities within the Relationship Group
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Invoices/Debit Advices in multiple formats
- SWIFT MT 199
- EDI 822
- TWIST BSB
- Excel etc
Key Benefits
- Provides a comprehensive billing platform to support the requirements of financial institutions
- Supports configuration of complex client hierarchies and billing & invoicing requirements
- Full Straight Through Processing (STP) with no manual intervention
- Consolidated invoices with multiple options to meet unique client needs
- Monitoring of collections and reconciliation with ageing analysis
To learn more about centralized billing in banking, please read our brochure on miBilling.
