Financial Integration Platform

Digitally transform your finance systems

Reconciliation

  • Real time ongoing system to system reconciliation
  • Integrates multiple systems
  • Transaction system to payment gateway to finance system
  • Ensures robust reconciliation
  • Displays human readable business rules
  • Transparent
  • Simplifies ANAO audits
  • Unlimited transaction capacity. In the billions

Blockchain – Fraud Prevention

  • Saves transactions to the blockchain.
  • Transactions can’t be tampered with
  • Fraud is prevented
  • Expensive anti-fraud measures are redundant
  • This is a legitimate use of blockchain’s distributed ledger technology

Problems solved

  • Very expensive system integration builds eliminated
    • Reduced from months to 1-2 weeks
    • Huge cost reduction
  • No Manual reconciliation
  • End of period reconciliations eliminated
  • Reconciliation errors captured.
    • Missed transactions

Future Roadmap

  • AI implementation to deliver predictive reconciliation prevention

How does it work?

  • Our proprietary, configurable, finance specific rules engine, allows super fast implementation of customer specific, payment and financial record management logic.
  • Continuous system to system polling, ensures no transactions are orphaned and exceptions are identified immediately.
  • Event based design allows resubmission of transactions, in the event of connectivity loss

Where is it installed?

  • TBF-FIS is installed (cloud or on premise)
  • An adapter is built and/or API’s utilised to connect the organisation systems to TBF-FIS

Reporting

  • TBF Consulting can deliver rich reports from any source, using PowerBI
  • Reports can be:
  • Real-time
  • Ad-hoc

Benefits Summary

  • Super rapid, low cost build. 1-2 weeks compared to months or years for bespoke integration development.
  • Customisable rules engine means your rules are implemented, not the software providers.
  • Fraud proof.
  • Real-time reconciliation.
  • No more lost transactions.
  • Massively reduced error rates.
  • Audit proof.

FAQ

Q: Who needs this product?

A: Every organisation taking or making payments. Particularly where strong oversight and governance is required

Q: We have Oracle/SQL Server already, doesn’t this make TBF-FIS redundant?

A: No. We can install our software to sit in between systems and communicate with the source financial system, or can handle reconciliation on its own.

Q: We have SAP, Finance One already, doesn’t this make TBF-FIS redundant?

A: No. See the previous question.

Q: Can your product split payments, or handle complex milestone payments?

A: Yes, our rules engine can handle complicated scenarios, such as these.

Q: Can it keep track of funds spent and outstanding, for a grant or contract?

A: Yes.

Q: What if we don’t want or need Blockchain?

A: Blockchain is not mandated, but it adds a very a strong extra layer of financial security.

Q: Haven’t blockchains been hacked?

A: No, that’s the clearing houses for Bitcoin and other blockchain entities. The distributed nature of blockchain transactions mean they can’t be tampered with.