Market-leading STP with Pelican
Transforming operations and delivery with AI
Elevated automation with Pelican A.I.
In a recent survey, over 50% of people responsible for Transaction Banking responded that there are inefficiencies in their payments business. Financial institutions have to constantly look at ways to improve efficiencies, and the pressure remains to roll-out innovative products, retain customers and generate new business opportunities. Legacy systems however, which have often been added to piecemeal over many years, pose barriers to meeting these objectives.
The unique Artificial Intelligence (AI) foundation of the PelicanPayments platform enables intelligent
contextual understanding along the payments chain, elevating automation above the capability of standard rules based systems. Using advanced AI techniques for matching unstructured text, the STP solution is an intelligent repair, routing, reporting and revenue generation platform that drastically increases capacity and reduces
cost. The boost in automation
reduces manual intervention and
back charges, thereby lowering investigation costs, whilst improving customer satisfaction and margins.
Auto Repair & Enrichment
Combining over two decades of payments domain experience with unrivalled AI expertise, Pelican’s payments processing platform uses advanced techniques for matching free format text, improving message repair and delivering a reduction in exceptions raised.
The Pelican STP solution is able to perform intelligent, complex repairs across multiple fields in a message or file. Business workflows can be configured to determine the least-cost network for payment delivery or the fastest route, depending on requirements.
- Modular STP solution, supporting any payment type
at any stage of the payments life-cycle.
- Highest STP rates using AI and Natural Language Processing (NLP) to undertake complex payment repairs.
- Content based auto-routing, based on business objectives - lowest cost / fastest route.
- Self-learning module - learning from operator repairs to keep STP rates continually high.
- Intelligent multiple message repair, using AI disciplines
for human-like contextual understanding and automation.
- Inbuilt EAI which connects to any core banking / back-office system or channel using multiple protocols.
- Inter-operable with PelicanSecure – Pelican’s compliance suite.
- All Pelican technology built in-house with the components designed to work seamlessly with one another.
- Bolt-on open banking module supporting the latest API standards.
- Future proofed, supporting multiple instant payment schemes.
STP Solution benefits
- Achieve outstanding STP rates – users reporting over 98% – by leveraging AI disciplines of NLP and Machine Learning.
- Increased revenue - product and pricing management with the ability to create, launch and maintain new products quickly with customised pricing for correspondents. Existing customers have seen $8 million new revenues in the first 12 months.
- Better processing efficiencies through payments enrichment and auto-routing functions, customisable to primary objectives.
- Reduced exception review times - with comprehensive report data and single dashboard overview for exception management.