A digital solution was developed and delivered to modernize the process of creating and approving bank payment instructions. This project eliminates the reliance on wet signatures and Excel-based workflows, replacing them with a streamlined and secure digital platform.
Key features of the solution include:
- Digital Payment Instruction Creation: Payment instructions are generated digitally within the platform, ensuring consistency and accuracy.
- Mobile Signature Approval: Eliminates the need for wet signatures by enabling authorized signatories to approve payment instructions via mobile signature, reducing delays caused by location dependency.
- Secure File Transfer Protocol (SFTP): Ensures secure transmission of payment instructions to banks, maintaining confidentiality and data integrity.
- Error Minimization: Reduces errors associated with manual data entry and Excel-based workflows through automated processes.
- Legal Validity: Adds mobile signatures and timestamps to payment instructions to comply with legal standards and ensure audit readiness.
- Workflow Efficiency: Speeds up the payment approval process, preventing delays in work processes and enhancing overall operational efficiency.
This system empowers the client to optimize their financial workflows, ensure secure and error-free bank transactions, and align with modern digital and legal standards.