As a financial institution or corporate, you execute numerous payments every day. That’s business as usual. Yet, simplifying the number of these transactions will save you time and money. That’s why ING Wholesale Banking (WB) created the centralised ING Payment Factory (PAF), which makes making payments a lot simpler for you.
ING PAF is an overlay service that provides an interface between your ERP system and our infrastructure. It simplifies your entire payment process. Your payment factory provides end-to-end connectivity with clearing systems and payment facilities in a uniform way and at a low cost.
We help you achieve uniformity in distribution channels, file formats and standards. By harmonising processes, you can eliminate treasury duplication, increase oversight of local offices and realise outstanding economies of scale. From a single point of entry, you can access all European accounts and still use local products.
ING WB can build a payment factory around your specific needs. ING PAF helps optimise liquidity management. Outgoing payments can even be fixed to coincide with maturing short-term investments. For your convenience, we can phase in your payment factory gradually over time and even combine it with a collection factory.
- Optimise liquidity management
- Achieve uniformity in distribution channels, file formats and standards
- Reduce duplication of treasury IT systems
- Increase oversight of local subsidiaries
- Increase efficiency and cost effectiveness by reducing manual interventions.