Transaction Banking Cash ManagementTransaction Banking Cash Management

Transaction Banking Cash Management

A large part of our corporate relationships require expeditious collection and processing of receivables and payments, low administrative costs and efficient reconciliation of account statements. Transaction Banking/Cash Management provides a wide range of value added services to corporate clients through the bank’s vast network of online branches. Structured and optimised products enable customers to realise their sale proceeds swiftly from across the country, supported by a real-time Management Information System.

Alfalah Transact is an electronic platform which enables Corporate, Middle Market and SME clients to securely prepare their payment and transfer instructions in real-time to the bank. Banks can receive these instructions securely and can process it electronically after due validation and verification with convenience, security and cost efficiency.

Product Description

The following suites are offered: Collection and Payment suites

Collection Suite

The following features are offered:

Dealers of Transaction Banking will be able to deposit cash directly into the client’s Collection Account. Dealers/agents will be able to make the deposit at any branch of Bank Alfalah.

Dealers/agents of Transaction Banking clients will be able to deposit instruments (cheque/Payment Order/Demand Draft) directly into the client’s Collection Account. Dealers/agents will be able to make the deposit at any branch of Bank Alfalah.

Dealers/agents of Transaction Banking clients will be able to transfer funds from their accounts to their respective client’s Collection Accounts through Bank Alfalah’s web-based Alfalah Transact portal.

Clients will have the option to pay their utility bills through Bank Alfalah’s branches across Pakistan, which are reported online through the web equipped access given to the client.

Transaction Banking clients will be able to get their cash/cheques collected from their own premises by placing an online request through the web equipped platform. This will be provided using courier and CIT (Cash in Transit) companies.

Payment Suite

The following features are offered through the Alfalah Transact payment platform:

Transaction Banking clients will have the facility to make payments through Alfalah Transact for various transactions including account to account transfer, Inter Bank Fund Transfer (IBFT) payments, Real Time Gross Settlement (RTGS), cheque issuance and generation of payment orders.

There is a facility within the Alfalah Transact platform for bulk disbursements which aims to make the payment process simpler and more convenient.

Bank Alfalah’s Transaction Banking platform allows vendor payments to be facilitated through a number of transactions listed above.

Transaction Banking also offers Over-The-Counter cash disbursement. This is done by sharing the beneficiary’s details on the Alfalah Transact portal including a transaction specific X-pin which is system generated. The beneficiary then proceeds to any of the designated Bank Alfalah branches with the X-pin along with the original CNIC.

The Transaction Banking client has the ability to benefit with electronic account to account transfer using the online portal within the Bank Alfalah network.

The Cash Management platform allows cheque issuance to be initiated electronically with an option to have the cheque printed either at the customer’s premises or at designated Bank Alfalah’s branches. The client’s authorised signatures are digitally scanned and these are printed on their respective cheques.

Using the bank’s Transaction Banking platform, the clients also have the ability to disburse their payroll using the bulk file upload module, assigning beneficiaries and associated amounts for payments.

Bank Alfalah’s Cash Management clients have the ability similar to cheque outsourcing to print Payment Orders at designated Bank Alfalah branches by executing these instructions online.

Transaction Banking clients also have the ability to make IBFT payments online through 1 Link integration of the platform.

RTGS transactions are initiated online by the client to carry out Transaction Banking Operations. This request is further processed by Transaction Banking operation officers by reporting it to Treasury operations which then liaises with State Bank of Pakistan for financial entries.

Access to Statement of Accounts (View Only)

All Transaction Banking clients will have access to their statement of accounts through the Alfalah Transact portal.