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Finastra’s Bacsactive-IP Solution Supports ScotPayments With Prevention of Payments Fraud and Error

Fintech Finance

Finastra , a global provider of financial software applications and marketplaces, today announced the go-live of its Bacsactive-IP Confirmation of Payee (CoP) service with ScotPayments , a centralized payments platform that supports the digital transformation of public services in Scotland.

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Payment Automation: The Future of Business Transactions

Nanonets

The payment process using ACH transfers involves the payee creating a payment order which is received by the originator bank. Electronic collaboration enables efficient error resolution compared to manual methods that rely on untracked emails and phone calls. Some technology providers guarantee accuracy.