Financial Service Providers face increasing strategic challenges in receiving, allocating, reconciling and auditing payments towards accounts and services as their businesses grow. In addition, the complexity of providing regulated services in an environment of changing administration software systems, payment technologies and even product underwriters threatens the sustainability and viability of many financial Markets.
These businesses also face additional operational challenges managing incoming and outgoing payments, such as partial payments received towards future services, division of payments between multiple sets of underwriters and stakeholders, along with unclaimed payments.
The Byte Money, multi-channel, automated, audited platform...allows the instant, risk-free collection of account and premium payments across all stakeholders of complex financial supply chains. In addition we ensure that best-practise cash and payment management processes are embedded in businesses throughout the supply chain by integrating appropriate, market leading administration, accounting and machine intelligence systems where appropriate.
Byte Money operates in a highly regulated market that is subject to “Know Your Customer”, “Treating Customers Fairly”, “Protection Of Private Information” regulations along with well-defined and drafted Basic Conditions Of Employment and Consumer Protection acts. In addition to the above, Byte Money is also subject to a number of Non-Disclosure and protection of intellectual property agreements. It is in the above legal framework that we have developed our company culture.