Incoming Payments Review

Incoming payments are routed to an account or team and have to be manually reviewed by Payment Operations team before a successful settlement. WorkFusion reduces manual work associated with updates to incoming or outgoing payment details that require repair before settlement/execution due to missing or incorrect information.

Intelligent Automation helps achieve 95% straight-through processing with 96% accuracy.

Customers who viewed this use case also viewed

Check Processing
Regulators require banks to perform investigations on all payors and payees involved in check transa...
Check Processing
Regulators require banks to perform investigations on all payors and payees involved in check transactions. Check image pulling is a very time-consumi...
Virtual Lockbox
Classification of incoming documents and data extraction from checks, envelops, etc., is a tedious m...
Virtual Lockbox
Classification of incoming documents and data extraction from checks, envelops, etc., is a tedious manual process. WorkFusion helps automate this by s...
Wire Transfer Authorization
To enable transfers between bank and investment accounts, clients are required to submit a form alon...
Wire Transfer Authorization
To enable transfers between bank and investment accounts, clients are required to submit a form along with a bank-issued backup document, e.g., voided...
CTR Exemption Validation
Workfusion can automate validating whether a customer is exempt from Currency Transaction Reporting ...
CTR Exemption Validation
Workfusion can automate validating whether a customer is exempt from Currency Transaction Reporting requirements, either during onboarding or on an on...
Consumer Lending SCRA
Checking your accounts against the Servicemembers Civil Relief Act (SCRA) website is a critical step...
Consumer Lending SCRA
Checking your accounts against the Servicemembers Civil Relief Act (SCRA) website is a critical step to avoid penalties and reputational damage from e...
Expenses Validation
With WorkFusion, you can automate expense validation end-to-end. This process can include receiving,...
Expenses Validation
With WorkFusion, you can automate expense validation end-to-end. This process can include receiving, reviewing, and (if needed) re-routing an employee...