It seems like these days every transactional business is looking for a way to simplify and accelerate payouts and disbursements. Many companies are turning to payout orchestration providers like Ingo Payments, to handle every facet of a disbursement, so they can essentially “fire and forget it”.
While Ingo Payments offers a host of embedded payments technologies, we pride ourselves on the comprehensive scale of our DigitalPay SaaS platform.
Simply put, our DigitalPay SaaS platform is an end-to-end payments platform that seamlessly manages customer digital engagement and payouts orchestration across the disbursements lifecycle, from initiation to settlement, while ensuring security, compliance, and risk management, in a custom-branded experience.
But what are the components of our DigitalPay SaaS solution? And what makes it a superior choice for a company looking to implement digital disbursements without the hassles of building internal infrastructure or managing risk and compliance?
This article will walk you through the benefits of a full-scale solution and discuss what makes Ingo Payments a top choice that can make payouts easier for your business, no matter what industry you operate in. (For more information on how Ingo can work to create a bespoke payment solution for your specific industry needs, check this out.)
What Do We Mean By “Full-Scale”?
Launched in 2019, Ingo’s full-scale platform supports both single- and multi-party ad hoc and recurring disbursements and P2P payments. It offers configurable, dynamic workflows, as well as comprehensive risk and compliance management.
All this comes with a customizable look, tone, feel, and voice for your unique business. Our platform can be configured for both small-scale individual clients and large, enterprise payment systems. In other words, whatever your needs, the DigitalPay SaaS platform will fit your business.
But let’s break down our platform’s key features and how they might help a business scale.
A Customizable Digital Payment Center platform
Building out an interface for a digital payments disbursement center is no small task: it involves extensive development work as well as UX design to support a wide array of workflows and user journeys. It also requires complex back-end integrations with both existing payment rails and external partners. Ingo makes the whole process simple by offering a proprietary digital payouts solution that is easily configured and fully brandable, incorporating your existing website or mobile app interface’s look, tone, and feel and your brand voice.
Robust Payments Processing
Our SaaS platform offers broad payment choice and reaches over 4.5B accounts, including bank accounts by debit card, RTP and ACH, credit cards, digital wallets, even instant digital accounts and cards providing disbursements recipients with unmatched choice—which leads to increased customer satisfaction.
That’s the Ingo difference. Our proprietary payments network is designed to provide redundancy, automated failover, and least-cost routing. This network was created based on decades of experience and long-established integrations with payment networks and top-tier financial institutions. Our clients can rely on these direct integrations to ensure that their money reliably goes to the right place at the least cost, every time.
Risk Management/Compliance: User Authentication and Account Verification
When it comes to payment processing, risk management, and compliance are vital aspects of ensuring that money ends up in the right place. Good risk management begins with user authentication.
Ingo provides a variety of authentication capabilities, including knowledge-based, multi-factor, one-time authorization and single sign-on integration options. Authentication methods may vary by use case and according to custom risk rules.
Ingo’s DigitalPay SaaS solution boasts multiple customer payment options, which means that behind the scenes verification (name, address, account number, codes and routing numbers, etc.) and comparison of data sets between client and customer is a vital aspect of keeping money secure.
The Ingo solution also includes counter-verification through payment network or third-party services which matches up data and ensures that an account is in good standing in terms of ownership as well as status before money is moved, reducing payment failures and transactional risk.
Different companies have different needs associated with risk, often depending on the amount of funds involved in day-to-day transactions. The Ingo solution allows individual clients to determine what they want their risk rules to be, and how robust their risk management engine is. We then configure the platform to balance seamless/frictionless transactions with tighter, more customer-intensive verification.
Payment Reconciliation
Our payment orchestration system keeps track of all transactions to ensure that the amounts settled match the amounts processed. Discrepancies are flagged for further inspection in our reconciliation platform, which works to ensure accuracy in every transaction.
Ingo also provides daily line-item reconciliation reporting and aggregated treasury account settlement to ensure maximum security and clear visibility into your numbers.
Reporting and Analytics
Speaking of data, Ingo’s SaaS solution boasts comprehensive reporting and analytics tools that provide insights into transaction volume, metrics associated with your customer journey and behavior (from risk screening to payment type mix), and other key performance indicators. This data helps businesses optimize payment strategies and identify areas for improvement, ultimately upping client satisfaction and reducing friction.
In addition, SaaS clients not only get financial business performance, but also trend reporting and industry benchmarks to get you the insights you need to guide business decision-making.
Data Security
Ingo maintains data security and integrity meeting data encryption standards for non-public personal information and financial data. This means maintaining compliance with SSAE SOC 1, Type 2, SOC 2, Type 2, and PCI DSS Level 1 security standards, which is considered the most robust in each category.
Unparalleled Client Servicing and Support
Throughout the entire process, our DigitalPay SaaS platform prioritizes a seamless and frictionless client experience, minimizing payment errors, delays, and disruptions. We provide our clients with end-to-end operational support for payment disputes, including proof of payment evidence and clawback requests.
Ingo also conducts quarterly business reviews to optimize your disbursements program, receive feedback and inform future product offerings.
In Conclusion
Ingo Payments’ full-scale, DigitalPay SaaS platform is a best-in-class all-in-one solution for building and scaling digital disbursements capabilities for companies across a wide spectrum of payout needs. Ingo provides infrastructure and support to make adding disbursements a breeze for businesses of all sizes, from start-ups to enterprise-level businesses.
To learn more about how the Ingo SaaS platform might work for your specific business needs, contact a specialist here.
