AscendantFX unveils its new cross-border payments product

This release aims to be a step forward for how businesses collect payee details and send international payments. The development of this product began in 2019 to address cross-border challenges, and to reduce the cost of sending those payments. Payee Intel diminishes the number of returns and investigations associated with international payments, facilitates the efficiency of collecting payee banking details, and reduces the overall cost of sending international payments.

Powered by Ascendant’s proprietary Payee Intelligence technology, Payee Intel introduces a way to capture complete and correct payment instructions from the source using automation and cloud tech. The Payee Intel system guides the payee through the payment instruction process in real-time, automatically notifying the user of the information that is required and/or missing in their instructions, in order to complete the payment in their destination country. Once the information has been entered, Payee Intel completes a validation through Ascendant’s global financial institution database, and when all required data is provided and validated, the system immediately updates the payee information in the customer’s aPay portal for use in future payments.