Paylink Banking technology services helps you to manage transaction processing and distribution in a simple and compliant way

Using our secure and scalable Cash Management Platform, our services can be tailored to meet your business needs, such as multi-channel receipts, reconciliation and distribution

How it works

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Authorised by the Financial Conduct Authority as a Payment Institution – supporting your transactional needs securely and compliantly

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Proven Cash Management Platform can submit and receive banking data, which can be reconciled and communicated to create functional workflows

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Secure data capture – customer data is captured in a PCI(DSS) compliant infrastructure - reducing your costs and concerns

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Extensive database of payee information for all main bank, credit card and collection accounts

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Scalable services and software to ensure we can meet rapid increases in transactional growth

Key Features

There are several features of our Payment Services product, which can be adopted and integrated into your business as a whole – or tailored individually to meet your specific needs as part of a service agreement:

BACS bureau Services

Scheduling of direct debit collections, submission of new mandate instructions, cancellations and processing of ongoing payment collections.

Transaction Receipts

Recording of multi-channel transactions: (BACS, FP, Cheque, Direct Debit, Card Payment Receipts) received and transmitted between accounts

Reconciliations

Client Money reconciliations, pooled and segregated account reconciliations, corrective actions, cash book and bank reconciliation.

Regulatory Compliance

Detailed reconciliations produced in the required regulatory format at a frequency determined by the customer.

Distribution of funds

Onward distribution of funds to multiple destinations, using either single-line, same/future dated faster payment, Cheque or CHAPS transactional types.

Flexible remittance methods

Including bulk transactions with accompanying remittance advice provided in agreed format

Multi-frequency

Variable distribution intervals that can be implemented at a product level

Transaction Splits

Application of pre-defined calculations to create transactional splits

Reporting

Individual or consolidated reporting of failed transactions, distribution by destination, remittance, reconciliation, and transaction receipt reporting at agreed frequency.

Exception Handling

Implementation of processes designed to identify unexpected transactions and returned transactions.

Debt Consolidation service

Effective distribution of loan payments processed securely through using our Authorised Payment Institution status.

Distribution

Distribution data is securely captured through the debt consolidation portal and distributed to debts within 24 hours.

Debt Consolidation Service

Our Debt Consolidation Service sits within a Client’s lending journey and enables Lenders to offer a unique and enhanced customer proposition for customers looking for a debt consolidation loan.

By working with Paylink Solutions, Lenders can now have their individual customer personal debts paid-off directly to the creditor, ensuring their customers actually consolidate their debts as opposed to using any funds for additional spending.

Once a customer is approved for a debt consolidation loan, details of their existing debts and creditors are securely sent to Paylink Solutions, where using our unique banking solution and experience we fully pay the creditors back on the customer’s behalf within 24 hours.

This solutions leaves the customer with one manageable repayment to make the lender and no additional administration or worries about speaking to the creditors they owe, as this is dealt with by Paylink.

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What Premium Plan said

Paylink Banking has taken the pain out of our transactional processes. We have been recognised as having one of the fastest pay-outs in the industry, which has impressed the dealerships we deal with. The team manages payment processing without need for intervention on our part, which has meant that we don’t need to increase headcount for back office functions, and we can focus on our customers.

Simon Greiner – Premium Plan

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