Technology and Operations

Remit Worldwide is designed so your bank can choose between a turnkey, no integration, solution or a more tightly integrated or single sign on solution.  We can work with your bank to help determine the best integration given your existing technology platforms, customer channel preferences, availability of IT resources, and growth projections.  The application can support several models including:.

Stand Alone Branch Model – this is commonly referred to as the “Swivel Chair” model because it requires no IT integration from your bank.  When servicing a customer the Personal Banker (Teller) will need to enter the payment in Remit Worldwide and then swivel to your core banking application to debit the customer’s account (unless the customer is providing cash).  We setup a Web application that will be branded to match your bank, restrict access so only traffic from your internal network can reach the application, and assign Admin users who can create users and assign privileges including Personal Bankers (Tellers), Branch Managers, Compliance, and Accounting.  Each user has their unique username and password to access and use the application.  Each day the accounting group will fund their account at Bank of New York Mellon with a bulk wire.  The application provides the reconciliation report necessary to properly fund your account.  This model works well as a starting point for offering the service since it requires no integration work. (show below image for the stand alone branch model)

Integrated Branch or Online Banking Model – in this model Remit Worldwide will be able to communicate with your core banking system so that available balance inquiries and debits / memo posts to individual accounts can take place in the Remit Worldwide application because the application will be integrated to your core banking system to  automatically perform these functions.  With online banking we have a single sign on method so that Remit Worldwide can live behind your log in to online banking and allow an individual to use the application in a self service mode.  In both cases Remit Worldwide will need to be integrated with your existing core banking and online banking systems to facilitate the transactions.