General Overview
The automation of financial transactions between institutions and corporate clients has always been a sensitive task and a challenge to any software system. The processing of operations has a is hybrid nature - it can include simultaneous processing of paper and electronic documentation, execution of accounting and/or cash operations, sending and receiving of SWIFT messages, conducting heterogeneous communication with corporate clients, financial institutions, individuals. Furthermore, the practice has shown and requires institutions involved in the process to offer flexible and convenient solutions to their clients, which inevitably leads to exceptions in established and generally accepted working processes.
By 2014, specialized software systems for money transfer management and documentary operations offered the market "cumbersome" functionalities that did not fully integrate or fail to successfully integrate activities in this subject area.
In 2014, BINETIX introduced to the market new technological solution that successfully centralizes, integrates and unites work with documents, financial operations and communication with customers and institutions through the so-called Electronic Record. The software solution was introduced through publications, presentations and real demonstrations at workshops and seminars to leading banking institutions.
Electronic Record in PTM is a summarized term of all documents, financial and operational activities and events related to the work on a financial transaction. Like a folder, each BINETIX PTM file is stored in a corresponding Registry and receives a unique reference number from the system.
PTM Electronic Records unify the work in the subject area and accordingly they provide general and specialized functionality. According to the way of work in a particular subject area, the following types are divided:
▪Record of corporate transaction
▪Record of postal money transactions
▪Record of international money transfer through MoneyGram
▪Bank Documentary Record
Electronic Records also provide a shared work environment in which multiple users of the System can work competitively and in accordance with business processes in your organization. PTM grants the opportunity for the adaptation of the functionality needed to automate business processes by introducing a special type of working documents called Orders. Each Order, as an integral part of an Electronic Record, m ay have a specific life-cycle that can be monitored and controlled by working statuses. Potential adaptations of the System have been implemented for BINETIX customers by introducing specialized Orders in specific business management processes such as the management of Bank Documentary operations or Management of postal money transactions.
Electronic Records enable the user to gain access from a single location to a variety of work information such as nomenclatures, registers, operational documents, reports, accounting operations, generated documents when communicating with external systems, etc.
References
In 2015 BINETIX presents on the Bulgarian market the first fully automated and integrated platform for management, control and security checks of information in compliance with the LMAML (Law on Measures Against Money Laundering) and LMAFT (Law on Measures Against Financing of Terrorism). Today, the technology is built into the latest versions of BINETIX PTM in connection with the entry into force of the European Parliament's Personal Data Protection Regulation 2016/679 (GDPR).
