BINETIX NETWORK

The process of sending a cash postal money transaction is automated in several main steps:

1)Select the type of transaction and the payment method;

2)Filling in the financial requisites of the transaction;

3)Filling in information about the sender;

4)Filling in the receiver's information;

5)Performing  security reconciliations (checks);

6)Finalizing the sending of postal money transaction.

Important! The System optimizes significantly the work of sending postal money transactions, and the servicing time for one client by a well-trained expert can be reduced to 1 minute.

The figures below illustrate the mentioned steps with example data.

Depending on the requirements of your organization, a transaction reference number (also called a Barcode in postal institutions) can be generated automatically by the System or entered manually. This configuration needs to be coordinated before the System is put into operation.

The System can be configured with additional services related to receiving and / or sending postal money transactions. The example below shows several popular additional services that are provided with postal money transactions. The System allows you to:

✓define services that are automatically charged under certain conditions (for example, by the type or the amount of the transaction);

✓define services that can be selected upon request by the customer or at your discretion as a System user.

Any additional service related to money transactions in BINETIX PTM may have a fee, which can be calculated at a fixed value or using a set formula.

The System provides you various options for entering information of sender and receiver. You can:

✓Input manually data for a person or a legal entity

✓Search through nomenclature and quickly fill in some address fields;

✓Search the Client Registry and automatically fill in names and data.

Filling in financial and non-financial requisites is organized on the working screen gradually - after filling in a certain group of details you are provided with the next group, thus you can simultaneously view the entered data so far without the screen overflowing with information.

In the example you can see the appearance (in yellow) of the "Message to the recipient" input field, which is displayed as a result of the above selection of the additional "Message to the recipient" service. The text of the message is entered according to the institution internal instructions for filling in the data that you need to comply with.

After completing all the necessary details of the postal transaction, you confirm the operation and the system automatically performs security checks called reconciliation.

BINETIX PTM performs great number of automatic checks that comply with the current requirements of the following national and European regulations in force:

oLaw on Measures Against Money Laundering (LMAML);

oLaw on Measures Against Financing of Terrorism (LMAFT);

oEuropean Parliament Regulation 2016/679 on the protection of personal data (GDPR).

As a result of a security reconciliation, the System displays a screen where you, as a user of the System, receive:

✓Brief information on financial and non-financial requisites of the money transaction;

✓Empirical security risk assessment based on accumulated statistics, behavior and other parameters related to customer actions;

✓Option to add an additional security incident to describe a suspicious situation or event related to the current money transaction service.

The process of Receiving postal money transaction is automated and summarized in the following main steps:

1)Finding a postal money transaction for Receiving (for payment);

2)Filling in information about the client to whom the amount of the transaction is paid;

3)Performing security reconciliation;

4)Finalizing the receiving (payment) of the transaction.

Important! The receiving of postal money transaction is a specific process that can be completed in one of two ways:

▪Option 1: Only by entering a Barcode number - this approach is especially appropriate if your organization has a policy for paying the recipient when he/she provides the relevant reference number. This practice is generally accepted and provides additional guarantee and assurance that the transaction is paid and received only to clients who are informed about it in advance;

▪Option 2: By searching on different criteria and choosing the "right" transaction by browsing from the possible results on screen - this approach is risky and it is not recommended, but at some places it exists as a practice in organizations with more conservative policies.

The method of Receiving/payment of postal money transactions must be agreed with BINETIX prior the System implementation.

The example below shows a Receiving of a transaction with option for filtering and selection (Option 2):

As a result of the identification of the customer and the requested payment transaction, the System provides a service screen, as illustrated below:

On the Receive screen, you have detailed information on the originally sent money transaction, if necessary to inform the client about the requisites concerning him/her, such as to read or show them the message to the recipient, if there is any.

The screen for Receiving mainly provides the option to enter customer information, perform a security reconciliation, and make a final payment.