Our banking platform is integrated into the Cashplus Bank multiple (bulk) payment portal. Each Monika partner is provided with their own portal access where multiple, secure payments can be disbursed in payments runs at the convenience of the partner organisation.
The payments are made via the Faster Payments network and funds are typically credited within minutes into the destination bank accounts. This facility saves partners a significant amount of time as payments are simply requested easily within Monika throughout the day and then queued for bulk release whenever the organisation wishes to release them. Some organisations may opt to have one payment run per day whilst others may choose to have several payment runs per day depending on the amount of urgency of the payment disbursements.
The release of the payments is convenient yet highly secure with multiple stages of authority options built in to cater for each partner’s preferences when it comes to internal compliance around the release of client funds.