System for funds transfers MoneyTrans

The subsystem for funds transfers "MoneyTrans" of the comprehensive system for remote banking "RBS BS-Client" is meant to ensure servicing of individuals as regards non-trade transactions. It ensures the full cycle of funds transfers without opening a bank account.

Features
MoneyTrans enables instant inter-bank transfers from one individual to another within the network of MoneyTrans agents.
The scheme below represents the general scheme of transfers through the subsystem:

A clearing bank (system owner) and a network of agents (agent is a bank or other institutions that concluded an agreement to execute such operation with the clearing bank - processing centre of MoneyTrans, with its server used to transfer funds) are required for MoneyTrans to operate.
MoneyTrans's server instantly transfers funds to ensure that the amount of transfer can be received as soon as the ordering customer advises the beneficiary customer of the transfer control number (TCN). The beneficiary customer needs to enter the TCN and show his/her identity document to an agent. The transfer can be received from any agent regardless of the location.

Working in the system
The ordering customer should start an agent, specify the beneficiary customer's name, and pay a relevant amount. The agent enters the transfer into MoneyTrans, which again assigns a UID to the transfer. The ordering customer obtains the TCN. The generated transfer order is stored on MoneyTrans's server at the clearing bank until the beneficiary customer requests the money through any member agent.

Operations through MoneyTrans are executed within protected communication channels meeting all modern requirements on funds transfer security systems.

Advantages
For customers:

• Minimal number of actions to perform a funds transfer, which is due to the fact that you do not need to open an account and the suite of documents is minimal;
• Capability to instantly receive a funds transfer;
• Capability to receive the funds where convenient.

For companies:

• Capability to provide your customer with a funds transfer instantly;  
• Secure transmission of information;
• Fault tolerant operation with any amount of agents and documents;
• Compliance with the legal framework;
• Flexible system of commissions and tariffs.
  

Additional information
MoneyTrans enables the clearing bank to flexibly regulate its relationship with agents through establishing various limits on amounts of transfers and commissions for all system participants.

Today, the system for funds transfers based on the MoneyTrans functionality is successfully running in "European Trust Bank" ("Migom"), Sobinbank ("Live Money"), "Sviaz-bank" ("Blizko"), "Asia Invest Bank" ("Asia-Express"), "IBA-MOSCOW" ООО ("IBA-MT"), etc.
                                  
Please contact BSS's sales department for more information on the subsystem: (495) 785-0494.

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