SWIVEL

Experience Real-Time Payment Posting Connect2Core

WIVEL’s Connect2Core (C2C) enables a real-time connection with financial
institution core systems and applications in order to post payment data to borrowers’ accounts immediately after transaction submission. C2C also provides account lookup and the ability to post payment information to your banking core (i.e. Symitar).

WIVEL’s Connect2Core (C2C) enables
a real-time connection with financial
institution core systems and applications in
order to post payment data to borrowers’
accounts immediately after transactions
submission. C2C also provides account
lookup and the ability to post payment
information to your banking core (i.e.
Symitar).

Experience Real-Time Payment Posting Connect2Core

C2C enhances operational efficiency and offers unique employee and borrower benefits:
  • Batch file processing for posting
  • Borrowers will have their
    loans credited immediately
  • Leverages the same process to settle
    funds as current posting option
  • Payment inquiry calls are reduced
  • Multi-channel real-time posting
  • Access up-to-date data on borrowers’
    account, including posting status
Mark Payment

Mark makes payment via web

Payment IVR

Sylvia makes payment via IVR

Payment Via Phone

Representative collects John’s payment via Phone

TEL Trans
SERVER

SWIVEL’s payment system will generate TEL transactions for payments made via representative or IVR, and WEB transactions for payments submitted via web.
Transactions securely posted utilizing core integration
SWIVEL will securely transmit transaction data in real time via core integration method, including GL offset.

ODFI
ODFI

One CCD credit transaction will be generated to the designated settlement account and will include the sum of all convenience fees and payments from that day.

ODFI
Connect2Core

Our payment system will generate TEL transactions for payments made via representative or IVR, and WEB transactions for payments submitted via web..

ACH Operator

Processes in ACH Operator
(Federal Reserve)

Your ACH operators will see one CCD transaction with the payments and fees combined come in through the normal
ACH Channel

Settlement Account
Settlement Account

Settlement activity to the Financial Institution based on core requirements.
ACH—Next business day
Card Transactions — Two business days
Cash Transactions — Next business day

The Settlement/Clearing Account Transaction codes utilized for credits:
42 — GL Deposit
22 — Checking Deposit
32 — Savings Deposit

Auto Loan

Mark’s
Auto Loan

Auto Loan Payment

Sylvia’s
Auto Loan

Boat Loan

John’s
Boat Loan

External loan payments can be accommodated based on core requirements.

BENEFITS

  • Elimination of time-consuming Batch File Processing
  • Borrowers will have their loans credited immediately
  • Leverages the same settlement options and processes you currently have.
  • Reduced inquiry calls related to payments
  • Multi-Channel real time data posting
  • Access up-to-date data on borrowers’ account, including posting status
  • Post notes directly to member’s accounts and loans
  • Provides borrowers instant assurance of payment posting

Learn more about Transaction Enablement™