What is Payment Manager?
Payment Manager is an omni-channel payment platform that enables financial institutions to connect seamlessly with payment networks such as Fedwire, ACH, and FedNow using powerful APIs. Payment Manager provides flexible workflows, real-time capabilities, and compliance features to enhance efficiency, streamline integration, and support secure payment processing.
API-Driven Flexibility
Initiate or receive payments via powerful APIs while also exposing those APIs to fintech or corporate customers. Enable seamless integration with apps or custom applications, enhancing payment capabilities without relying solely on core systems.
Automated, Straight-Through Processing
Connect with any core banking system and manage payments independent of core restrictions. With support for Fedwire, ACH, FedNow, VisaDirect, SWIFT, and more, automate and streamline connectivity across payment types.
Foundational Elements of Payment Manager
Omni-Channel Payment Processing
Manage wires, ACH, FedNow, and VisaDirect, with robust API integration, ensuring secure and efficient payment processing across multiple channels.
Real-Time Readiness
Prepare your institution for real-time payments. Smoothly transition your financial institution to real-time readiness, including FedNow and other real-time payment networks.
Compliance-Ready
Ensure secure and compliant payment transactions across all connected networks with adherence to ISO 20022, SOC2, and other compliance standards. PCI coming soon.
Customizable Workflows
Configure flexible workflows for approvals, sanctions screening, and fraud prevention. Tailor your payment processing to meet specific business needs using Payment Manager’s rules engine.
Fine-Grained User Roles
Assign custom permissions and approvals for users. Define roles based on transaction types, limits, or branches, ensuring secure and compliant payment operations.
Reusable APIs
Accelerate new payment services with reusable APIs. Event-driven architecture and customizable templates streamline the integration process.
Advanced Monitoring & Reporting
Gain real-time insight into transactions with Observability Portal. Log management, alerts, and search functions ensure full visibility and control over payment processes.
Key benefits of Payment Manager
Fully Integrated but Independent of the Core
Integrate with your core system while remaining independent, enabling portability and flexible payment processing without being constrained by core limitations.
BaaS/Embedded Finance
Enable rapid connectivity between fintechs and the core with Banking-as-a-Service (BaaS), empowering financial institutions to offer embedded financial services while maintaining security and flexibility.
Enables Faster Project Completion with Reusable Assets
Accelerate deployment with reusable APIs and configurable templates. Payment Manager provides a pre-built asset library that reduces development time and speeds up project delivery.
Flexible—Customized to Support Fintechs
Leverage flexible architecture to integrate and support fintech solutions easily. Customizable workflows and an API-first approach empower financial institutions to meet evolving customer needs.
Efficiency—Automate Everything, Only Touch the Exceptions
Streamline your operations by automating payment workflows. Payment Manager’s rules engine automates standard processes, equipping your team to focus only on exceptions that require manual review.
Closer Connection to the Payment Network
Achieve real-time visibility and immediate feedback on payment transactions with direct connections to payment networks. This closer connection enhances transparency and reliability in payment processing.
Cost-Effective
Reduce operational costs with a scalable pricing model. An efficient architecture ensures competitive pricing, particularly at higher payment volumes.
Features
Monitoring
Gain full visibility into your payment operations with comprehensive monitoring tools. Track real-time transaction status, system health, and performance metrics, ensuring proactive management.
Exception Management
Handle exceptions swiftly with intuitive exception management tools. Automatically detect, flag, and prioritize issues, empowering teams to quickly resolve critical payment exceptions.
Configuration
Configure payment workflows and user roles with flexible configuration capabilities. Tailor settings to fit the unique needs of your institution without complex coding requirements.
Real-Time Ledger
Maintain accurate records with real-time ledger capabilities. Access up-to-date transaction information for better oversight and faster reconciliation.
Fraud Decision Engine
Stay ahead of threats with real-time fraud detection. Leverage integrated fraud checks to identify suspicious activities and protect your institution from fraudulent transactions.
Reconciliation
Simplify reconciliation processes with automated tools that align incoming and outgoing payments. Reduce manual errors and speed up financial reconciliation with Payment Manager.
OFAC Screening
Ensure compliance with integrated OFAC screening. Automatically verify transactions against the latest sanctions lists to minimize compliance risks.
Search & Filter
Locate and resolve transaction processing issues with powerful metadata search capabilities. Easily filter and search through payment data to identify and address problems.
Reusability
Enhance efficiency with reusable templates for configurations, event-driven architecture, and content-based routing. Payment Manager’s reusable assets help you launch new services faster while maintaining consistency.
Payment Manager runs on the Fintech Hub.
Discover the power of flexible integration tools with PortX, the Integration-Platform-as-a-Service (iPaaS) specifically designed to fulfill the unique needs of financial institutions. From its complete modern integration stack built on a microservices framework to seamless identity management, robust data transformation, insightful monitoring, and extensive data protection, PortX equips you with a comprehensive toolbox for rapid innovation.
Learn more about PortX components
Unified Observability Portal
Our monitoring component provides robust log collection, giving you a unified UI for seamless log management and search, infrastructure monitoring metrics, distributed tracing, and effective error management and alerts. PortX UOP’s extensible design allows for custom dashboards, ensuring a tailored fit for your unique monitoring needs and enhanced visibility into system performance.
Integration Manager
Integration Manager facilitates the design, development, deployment, management, and monitoring of custom APIs. It provides an array of developer-friendly tools, enabling continuous delivery and deployment of integrations while breaking free from the constraints of expensive and cumbersome ESBs.
API Builder
PortX API Builder provides a mature user-friendly developer framework for end-to-end API development. From intuitive design and construction to robust testing, it empowers you to build innovative digital products, platforms, and services quickly. API Builder includes proven connectors for all common integration protocols.
Data Transformation
Brought to you by DataSonnet, our open source solution features a portable, powerful, and easy-to-learn data mapping language and tool designed to facilitate data transformation in any integration scenario. Adeptly map and transform your data, ensuring seamless integration across your system’s landscape.
Translators & Parsers
Harness the power of PortX’s translators and parsers to seamlessly convert various communication protocols and data structures into more universally recognized formats. Our suite of parsers encompasses an extensive range, including X12, Swift, ACH, Fedwire, and others.
Workflow (Business Process Management)
Workflow revolutionizes Business Process Management by enabling you to track long-running transactions and seamlessly coordinate asynchronous responses into a cohesive business process. With a memory-efficient design, it continuously listens for updates and events while cleverly conserving system resources by switching into a low-power “sleep” mode as needed.
Developer Portal
Developer Portal is dynamically generated and fully customizable for comprehensive API documentation. Tailor the portal by adding custom content, adjusting styles, or take control by opting for self-hosting. The portal serves as an invaluable resource for app developers to discover and onboard to your APIs, learn how to integrate them into applications, and access API documentation.
Connectors & Pre-Built APIs
Extend PortX with the Connect Marketplace, a comprehensive exchange of connectors and pre-built APIs designed to expand the capabilities of our platform and facilitate connections to virtually any system or service. This dynamic ecosystem enables seamless integration and adaptability.
API Manager
API Manager equips you with the visibility and control necessary to oversee traffic, bolster security, and ensure endpoint health. It features API definitions and documentation, a comprehensive management plane, and built-in Security Information and Event Management (SIEM) functionality.
Unified Observability Portal
Our monitoring component provides robust log collection, giving you a unified UI for seamless log management and search, infrastructure monitoring metrics, distributed tracing, and effective error management and alerts. PortX UOP’s extensible design allows for custom dashboards, ensuring a tailored fit for your unique monitoring needs and enhanced visibility into system performance.
Payment Manager
Merge your payment channels securely into one common management platform. Save your IT budget and instantly integrate these solutions into your banking core with our drop-in suite of simple and reusable APIs. With Payment Manager, you can quickly and easily connect to modern payment networks without adding technical debt to your organization.
Wires
The Fedwire Funds Service is the real-time gross settlement (RTGS) electronic payment system owned by the US Federal Reserve Bank. The Fedwire connector provides everything required to read and write in the Fedwire’s flat file format and a secure connection to validate and translate messages.
ACH
Nacha’s ACH (Automated Clearing House) Network processes electronic funds transfers for consumers, businesses, and federal, state, and local governments in the US. The ACH connector enables reading and writing in ACH’s flat file format and a secure connection for validating and translating messages.
FedNow
The FedNow Service is a new instant payment infrastructure developed by the Federal Reserve that allows financial institutions of every size across the U.S. to provide safe and efficient instant payment services.
Swift
The Society for Worldwide Interbank Financial Telecommunications (SWIFT) system is an internationally recognized messaging network for transferring funds between financial institutions. The SWIFT connector accommodates wire transfers between financial institutions working internationally.
Real-Time Ledger
- Works with Real-Time & Legacy Payment Networks (zelle, MOJALOOP, swift, credit cards)
- Supports same-Day settlement
- Automatic reconciliation
Data Manager
Unify disparate systems, cleanse data, and power a customer 360 with this cost-efficient data integration management and business intelligence solution. Start making data-driven decisions today with seamless connectivity to Fintech Hub.
Built-in Support for Open Banking Standards
Leverage data structure templates tailored for common banking data models for banks and credit unions. This built-in support ensures compliance with open banking standards and facilitates seamless data exchange.
Pre-built Integrations
Connect seamlessly to popular platforms like Salesforce and other critical operational systems via pre-built connectors available from the Connect Marketplace. These connectors dramatically simplify integration, enhancing system interoperability and efficiency.
Operational Data Store
Integrate and consolidate data from multiple sources in near real-time, providing a current view of customer data. This capability supports day-to-day business operations and improves decision-making by offering reliable and timely information.
Real-Time Data Access
Achieve real-time data synchronization to ensure that all systems operate with the most current information. Facilitate instant transactions and reporting, enhancing the efficiency and accuracy of your operations
Automated Data Reconciliation
Match and validate data from multiple sources to ensure consistency and accuracy. This reduces manual effort and minimizes discrepancies, improving overall operational efficiency.
Analytics Visualization
Harness our data visualization tool for creating interactive dashboards and performing advanced analytics, providing comprehensive business intelligence insights. This platform supports real-time visualizations and machine learning integration to empower data-driven decision-making.
PortX Fintech Cloud / API Hosting
Fintech Cloud offers a unified platform for streamlined deployment, high reliability, and scalability. It leverages Docker and Kubernetes, PortX GitOps, observability tools, API Gateway, CI/CD templates, and PortX IAM. Built on a microservices framework, it enables the design, development, deployment, management, and monitoring of custom APIs, enabling continuous delivery and eliminating vendor lock-in.
Rules Engine
Rules Engine provides a framework to navigate through complex business rules and logic without the need for intricate coding. This design allows developers to articulate and enforce rules with relative ease and presents a strategic way to manage and implement specific business processes efficiently.
Event Streaming
Our Event Streaming Service embraces an event-driven architecture, enabling you to build and decouple APIs instead of traditional point-to-point APIs. This service allows applications to subscribe to events, fostering the construction of advanced integration options that enhance your system’s adaptability and scalability.
Caching
Leveraging a powerful in-memory data store, our caching solution significantly enhances your application’s performance by reducing latency. It reduces database cost and backend load while keeping frequently accessed data readily available, providing your users with a streamlined high-speed experience.
Edge VPC (Secure VPN to the Core)
PortX delivers versatile solutions for creating an encrypted channel, ensuring safe and seamless data flow between your integrations and the core. With our Edge VPC feature, you can assign smaller IP ranges or choose a dedicated IP address, providing simpler, more flexible options for establishing a secure connection.
GitOps
Embrace the GitOps approach to align with infrastructure best practices and streamline your software delivery lifecycle. PortX supports declarative Infrastructure-as-Code (IaC), allowing for automated deployments with an approval workflow. Utilize GitHub branch protection and code reviews to ensure that each deployment is secure, audited, reversible, and repeatable.
CI / CD
Enhance your Continuous Integration & Continuous Deployment (CI/CD) processes with PortX. By adopting GitOps principles, you can streamline the entire software delivery lifecycle. Our platform supports Infrastructure-as-Code (IaC), enabling automated, secure, and repeatable deployments with an integrated approval workflow, ensuring that every change is well-documented and reversible.
Identity and Access Management (IAM)
Effortlessly set up, authenticate, and control permissions from this self-service, seamless, intuitive portal. PortX Identity & Access Management is a user-friendly tool that empowers you to streamline your identity management processes, enhancing security while ensuring the right individuals have the necessary access.
Data Protection & Privacy
This solution is specifically designed to uphold the highest data privacy standards and maintain dynamic Attribute Based Access Control (ABAC). By integrating robust encryption measures, pseudonymization, and centralized controls in common data ingestion and distribution points, we ensure your data remains safeguarded and compliant with international regulations while offering an unparalleled level of data control.
Unified Data Platform
Consolidate data from various systems into one centralized location, simplifying data management and reporting. Utilize a common data management platform with a universal dashboard in the PortX platform, eliminating the need to log in to AWS.
Built-in Support for Open Banking Standards
Leverage data structure templates tailored for common banking data models for banks and credit unions. This built-in support ensures compliance with open banking standards and facilitates seamless data exchange.
Pre-built Integrations
Connect seamlessly to popular platforms like Salesforce and other critical operational systems via pre-built connectors available from the Connect Marketplace. These connectors dramatically simplify integration, enhancing system interoperability and efficiency.
Operational Data Store
Integrate and consolidate data from multiple sources in near real-time, providing a current view of customer data. This capability supports day-to-day business operations and improves decision-making by offering reliable and timely information.
Real-Time Data Access
Achieve real-time data synchronization to ensure that all systems operate with the most current information. Facilitate instant transactions and reporting, enhancing the efficiency and accuracy of your operations
Automated data reconciliation
Match and validate data from multiple sources to ensure consistency and accuracy. This reduces manual effort and minimizes discrepancies, improving overall operational efficiency.
Analytics visualization
Harness our data visualization tool for creating interactive dashboards and performing advanced analytics, providing comprehensive business intelligence insights. This platform supports real-time visualizations and machine learning integration to empower data-driven decision-making.