Solutran Announces General Release of Its Payment Decisioning Engine.MINNEAPOLIS Minneapolis (mĭn'ēăp`əlĭs), city (1990 pop. 368,383), seat of Hennepin co., E Minn., at the head of navigation on the Mississippi River, at St. Anthony Falls; inc. 1856. -- Solutran also announces support for ECCHO ECCHO Electronic Check Clearing House Organization ECCHO Emerald Coast Coursing Hound Organization (Florida) image exchange processing rule set Solutran(R), a leading provider of treasury management services, today announced the general availability of its payment decisioning engine. This engine allows banks and corporate clients the ability to send check payment files to one location for least cost settlement routing. Solutran, in its Minneapolis processing center, will prepare and settle ACH (Automated Clearing House) A system of the U.S. Federal Reserve Bank that provides electronic funds transfer (EFT) between banks. It is used for all kinds of fund transfer transactions, including direct deposit of paychecks and monthly debits for routine payments to , substitute check and image exchange files for its clients. Paired with Solutran's leading returns engine, all payment types are consolidated into one view for the corporate client. Financial institutions have the ability to private label this service for their corporate customers. Whether items are captured in a high volume ARC environment, a retail merchant, or a drop box application, they will be routed through the payment decisioning engine for least cost routing A feature of a telephone system that automatically connects an outgoing telephone call with the telephone service that costs the least to that location at that time of day. Depending on how it is programmed, least cost routing will either drop down to the second most-efficient service if , based on client parameters and rules. "Our clients are telling us that the decision for the settlement route needs to be handled centrally. With deep experience in depository The place where a deposit is placed and kept, e.g., a bank, savings and loan institution, credit union, or trust company. A place where something is deposited or stored as for safekeeping or convenience, e.g., a safety deposit box. , returns, ACH and paper processing, Solutran is uniquely positioned to provide knowledgeable support for financial institutions' payment initiatives. As a payment processor, we understand the unique requirements related to settlement, controls and risk management," said David Roy, VP Business Development. A bank that partners with Solutran will quickly see that their total solution will put them far ahead of the competition. "Our reporting capabilities, tied to our processing, are well known and position us as the market leader. We have now extended our reporting to include all aspects of remote capture and payment decisioning," said Roy. ECCHO Rule Set Support In preparation for image exchange, Solutran is announcing its support for the rule set defined by ECCHO and will build its business rules in compliance with ECCHO requirements. "ECCHO's rules make the most sense for us and are the standard for image exchange going forward," said Roy. About Solutran For over 20 years, Solutran has provided a full range of treasury management solutions to corporations and financial institutions. Solutran's customized solutions span the payment spectrum, from paper check processing and conversion to fully electronic payment processing. Services offered include depository processing, accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying truncation, controlled disbursement Controlled disbursement A service that provides for a single presentation of checks each day (typically in the early part of the day). services, and returned check management and conversion services. Headquartered in Minneapolis, Solutran maintains relationships with ten affiliate-processing centers across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada. |
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