Online and Mobile Banking Solutions
Online and Mobile Banking Solutions
BHI’s Online and Mobile Banking solutions for business clients are digital tools designed to streamline financial operations and enhance efficiency.
BHI’s Online Banking platform for business clients is a digital tool designed to streamline financial operations and enhance efficiency.
What It Does
The platform provides businesses with a centralized hub to manage their financial activities, including payments, receivables, transaction reporting, and user access.
How It Supports Businesses-
Initiating Payments: Business clients can schedule and process payments, such as payroll, vendor invoices, and taxes, directly through the platform. The platform also includes options for ACH transfers, wire payments, and check issuance.
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Managing Receivables: The platform offers detailed reporting on incoming payments, helping businesses track outstanding invoices and reconcile accounts efficiently.
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Transaction Reporting: Comprehensive transaction reports provide insights into cash flow, account balances, and financial trends, which can help improve decision-making.
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User Management: Administrators can assign roles and permissions to employees, facilitating secure access and oversight of financial activities.
Benefits to Business Clients
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Ease of Use: Intuitive interfaces and automation reduce manual effort, saving time and helping to minimize errors.
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Efficiency: Timely updates and streamlined processes improve cash flow management and operational productivity.
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Security: Advanced encryption and fraud detection tools enhance protection of sensitive financial data.
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Accessibility: Business clients can access the platform anytime and anywhere.
BHI’s Banking online platform empowers business clients to manage their finances with greater control and precision, making it an indispensable tool for modern enterprises.
ConnectivityBHI’s Online Banking platform offers three methods for transmitting payment instructions: manual input, file upload, and SFTP (Secure File Transfer Protocol) connectivity.
Manual InputHow It Works: Enrolled business clients manually enter payment details directly into the platform. This is often suitable for business clients with smaller payment volumes.
Benefits:-
Ideal for small volumes of payments.
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Simple and quick for one-off transactions.
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No additional setup required.
File Upload
How It Works: Enrolled business clients upload a pre-formatted file containing multiple payment instructions. This is often suitable for business clients with larger payment volumes.
Benefits:
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Efficient for processing bulk payments.
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Reduces manual entry errors.
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Compatible with various file formats (e.g., CSV, TXT).
Why It's Efficient: Automates the handling of large payment batches, saving time and effort compared to manual input.
SFTP ConnectivityHow It Works: Payment instructions by enrolled business clients are securely transmitted from the clients’ Enterprise Resource Planning (ERP) systems to BHI via SFTP.
Benefits:-
Highly Efficient: Fully automated and eliminates manual intervention.
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Highly Secure: Encrypted data transfer assures confidentiality and integrity.
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Seamless Integration: Directly connects with business clients’ ERP systems for timely processing.
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Scalable: Handles high volumes of transactions effortlessly.
Why SFTP Stands OutSFTP is a highly efficient and secure method for transmitting payment instructions, offering seamless integration with business clients’ ERP systems. It minimizes manual effort, reduces errors, and enhances data security, making it the preferred choice for business clients with high transaction volumes or complex payment needs.
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BHI’s mobile online platform for business clients is a convenient tool that enhances our clients ability to manage their financial operations on the go.
How It Supports Business Clients-
Releasing Payments: Enrolled business clients can release payments directly from their mobile devices.
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Managing Receivables: The platform offers reporting on incoming payments, helping business clients track outstanding invoices and reconcile accounts seamlessly. Add-on services include Mobile Remote Deposit Capture, which allow enrolled business clients to scan and deposit checks via a mobile application.
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Transaction Reporting: Transaction summaries provide insights into cash flow and account activity, supporting better financial decision-making.
Our mobile online platform is an important tool for modern financial management, empowering business clients with flexibility, security, and control.
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BHI utilizes BAI2 and MT940, domestic and international standardized file formats used for bank account reporting, to provide business clients with detailed information about their account balances and transactions.
Overview
BAI2: Widely used in the United States, this format was developed by the Bank Administration Institute (BAI) and is designed for cash balance and transaction reporting, offering a structured way to track financial activities.
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Offers a highly detailed and flexible structure, making it suitable for complex cash management needs. It includes multiple levels of data granularity.
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Provides detailed transaction codes and descriptions, making it ideal for business clients requiring in-depth transaction analysis.
MT940: This format is part of the Society for Worldwide Interbank Financial Telecommunications (SWIFT) messaging system. It provides end-of-day account balance and transaction details, facilitating global financial operations.-
Follows a standardized format with a fixed structure, which is easier to interpret but less flexible compared to BAI2.
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Focuses on providing a summary of account balances and transactions, which is sufficient for general reconciliation purposes.
Benefits to Business Clients
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Enhanced Financial Visibility: Both formats provide comprehensive data, enhancing business clients ability to monitor cash flow and account activities effectively.
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Streamlined Reconciliation: The structured data simplifies the reconciliation process, saving time and reducing errors.
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Global Compatibility: BAI2 and MT940 are widely accepted, making them ideal for business clients with international operations.
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Automation: When integrated with financial software, BAI2 and MT940 can automate data processing and analysis.
Delivery Options
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Manual File Download: Business clients can access BAI2 reports directly from BHI's website.
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Secure File Transfer Protocol (SFTP) Delivery: For added convenience and automation, reports can be securely delivered via SFTP to a business client's systems.
BAI2 and MT940 empower businesses to maintain better control over their finances and optimize their cash management processes.
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