When company’s make payments it presents a potential loophole for fraud, as payment instructions are open to abuse. CashD provides a direct payment from the companies operational system which eliminates the need for the ABA file, using Open Banking API’s.
When company’s make payments it presents a potential loophole for fraud, mistakes or delays in payments being made. The process of a person collecting all the payments together and building an ABA file requires manual steps that open up the possibility for abuse or errors in making the payments. In this process, bank accountants can be changed or not updated, and payments can be left out.
CashD provides a more robust and secure payment process, directly from the companies operational system using Open Banking API’s. This process eliminates many of the manual steps and especially eliminates the need for the ABA file. In this way, payments are easier to control and process with less manual handling, and more check points and validations for audits.
Speak to us about how CashD will reduce your cost of payments and add to the security and ensure that payments are made on time and to the correct bank accounts.