| Corporate Banking Features |
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Corporations can view all past transactions and transaction details (approvals,
amounts etc) using VeriBranch's corporate admin pages or using an emailed daily
report.
Multi-Level
Approvals for Transactions:
VeriBranch offers an approval mechanism in which a corporation decides upon the
number of approvals needed for each transaction, the transaction approval
routing, and each employee's authority level.
In order to specifying approval routing, a corporate administrator configures
defines a list of designated employees to approve transactions. Any transaction
checked for approval on the administration pages undergoes approval before
being completed.
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Serial:
After the first person approves a batch of transactions, the next person
receives an e-mail/SMS notification for their approval.
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Parallel:
All employees approving a transaction receive an e-mail notification
simultaneously. Financial Institution/Corporate Administrator specifies whether
one vote or all votes approve the transaction.
After a transaction is approved, the banking transactions take place.
These approval routes can also be merged or customized depending on
requirements
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Transaction
Limits:
This feature allows the financial institution to define corporate transaction
limits. It also allows the corporation to delegate this task to employees, who
can in turn create limits.
VeriBranch Corporate
Administration Pages:
Corporate administrators can update corporate user rights and redefine the
corporate transaction approval structure and limits. Corporations can view all
past transactions and their details (approvals, amounts) using either the
corporate admin pages, a daily file exchange with the bank or using an
automatically generated daily email.
Schedule Direct Debits:
With this feature, firms can schedule direct debits from their debtees. Debtee
information, like payee information, can be pre-entered and stored for later
usage.
Data Interchange:
This feature enables the institution and its customers to exchange files such
as corporation employee paycheck information and corporation check debenture
information.
View Affiliate Accounts:
This functionality enables a parent company to view subsidiary or affiliate
account information.
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