S&T FeniX – software platform for international payments is a comprehensive solution that fully automates international payment transactions. This significantly facilitates and speeds up this work and brings numerous other benefits to all participants in this process.
The motives for creating this solution were numerous. For example, there were many different applications for processing one single order and that processing usually required the engagement of several people. Additionally, average order processing time (E2E) was too long. There were frequent cases of manual records in Excel for the purchase and sale of foreign exchange and other transactions.
The traditional business model was basically still in use: individuals often brought orders to the branch themselves, and legal entities usually sent orders via e-mail - only a small percentage did so through e-banking.
The consequence of this way of doing business was dissatisfied clients, management and stakeholders in the process as well as frustration of back-office employees. Because of all this, S&T Serbia has created a software platform that has enabled significant improvements - achieving a high level of digitization and automation.
• Incoming payments
• Outgoing payments
• Operational nostro
• Purchase, sale and conversion
• KIM donations
• System administration, audit trail
• Authorization and authentication
The advantages of using this software platform are numerous:
• Major reduction of order processing time - up to 85%
• More STP (Straight through processing) orders
• Significantly reduced OPEX
• Notable paper savings - paperless business - with DMS integration
• Integrability (with other parts of IT and different core banking systems)
• Ease of use and intuitiveness
The main result of using FeniX software platform was the shift from traditional to digital channels - that is, a greater degree of digitization of the bank's operations. In this way, the branches became unburdened: in addition to reducing the time required to process orders, the FeniX software platform also enables:
• Digitization of documentation
• Completely reliable system and reporting
• Reduced operational and reputational risk
Thanks to this improved business, customer satisfaction increases, which inevitably leads to business growth.
Falcon is a unique platform for the supply chain financing service (SCF - Supply Chain Finance), which is a response to the global liquidity crisis, downgrading the credit rating of economic entities and reducing profitability. This significantly automates and simplifies the process for all participants, which leads to greater competitiveness and better positioning in the market.
S&T platform Falcon supports all types of domestic and international factoring: