California based cross-border payments company AscendantFX has launched a new product named Payee Intel. The company says this product will reduce the amount of return and investigations on cross-border payments which will make it more efficient to collect payee banking details and cheaper to send payments all over the globe.
This product is powered by company’s proprietary intelligence technology, it introduces a way to capture complete and correct instructions from the source using automation and cloud technology.
The product system guides the payee through the payment instruction process real-time, automatically notifying the user that which information missing in their instructions in order to complete the payment in their destination country. Once the information is filled out, the product further validates through company’s database and when all required information and data is validated, the system immediately updates the payee information in the customer’s aPay portal for use in future payments.
The company has adopted Payee Intel as a required part of their day-to-day payments process to create operational efficiency and to tackle new operational challenges surrounding the global lockdown.