Corporate Payments

Virtual Account Management

The Virtual Account Management (VAM) model has transformed the way cash management solutions have worked so far. This unique model provides an end-to-end solution that is accessible, adaptable, and attuned to market trends. VAM workflow provides coverage to different industries &scenarios and has been significant in extending support to treasurers to manage liquidity not only realistically, but also effectively.

With our solution, the complexity of maintaining multiple physical accounts can be avoided with the diverse solutions provided by the model, such as easy transfers, claims, and payments that can be recovered per entity or project as per the requirements.

Key Capabilities

Integration Capabilities: The account’s ability to function as an interconnected network of solutions aids the movement of money through different channels, reducing the cumbersome task of reporting and tracking the activity. The dynamic nature of the collections and payments on behalf of (COBO/POBO) models helps in the amalgamation of accounts from different banks, resulting in the allocation of funds and resources, specific to customers’ needs that befits the new-age businesses of the corporate.

Dynamic Account Management Model: The VAM model enables the payer to conveniently allocate a unique account number that facilitates a payment towards services rendered from various parties, without using the real account number.

Coherent Space: Virtual accounts work in cohesion with multiple entities like business operations, payment gateways & clients. The In-house bank function imparts ease of use to the businesses by allowing debit, credit and transfers between the virtual accounts.

Future Enabled: The solution is capable of creating a virtual account that is dynamic in the fullest sense and one which is based on a set of rules, from a pre-allocated one that gives banks the leverage of utilizing the tokenization model.

Consolidated Support: VAM extensively supports promoting a cluster by restricting the number of accounts required to manage cash across various hierarchies effectively. By organizing and re-allocating balances virtually rather than physically, treasurers achieve the maximum benefit. The benefits include continuous real-time cash inflow and outflow, reducing dependency on the intraday credit and managing transaction flows confluence with the liquidity.

Autonomous Reporting: VAM provides a customized and detailed overview of the account to avoid any lapse or lag in the reporting of the performance features. The progress can be charted out, giving insight into risk management and increased accessibility to the funds.

Synchronized Automation: Virtual accounts can be easily filtered through the strategy to execute functions in sync with business capabilities entirely. VAM necessitates the need for streamlined objectives, detailed information reporting, and flawless accounting, crucial to managing collaborative efforts and initiatives.

Progressing & Comprehensive: The continually evolving strategic role of treasury management and the digital transformation of banking have paved the way to the digital transformation of payments collections and reconciliations. With its comprehensive database, the origin, movement, and final accumulation of the funds can be easily traced and updated accordingly. The parameters and components involved can propagate the versatility of virtual accounts.

Virtual Account Management