MCBDirect Corporate is a Commercial Internet Banking system, designed to be used by all types of businesses and organizations. MCBDirect Corporate is available 24 hours a day, 7 days per week and accessible from all over the world.
Desktop Online Corporate Banking
This service provides many benefits to make your company more effective and efficient:
We guarantee foolproof security with the use of MCBDirect Corporate, using authentication and encryption through use of Digital Certificates; which can be managed online. Each MCBDirect Corporate Client gets his/her own user-id and password, to which the rights of the user are tied. Whenever changes have to be made on a user's rights, this has to be requested to the MCBDirect Corporate administrator at the bank. This ensures that all users and rights are carefully documented and accounted for.
Segregation of duties can be applied according to organizational structure of the company. Amount limits can be applied to both creation and authorization of transactions, at user level.
All transactions done through MCBDirect Corporate are recorded in an activity log, with date, transaction type, amount, confirmation code and user name. At any time managers can check which transactions were done by whom.
Files generated in other applications like payrolls and accounts payable can be sent to the bank for processing. Beneficiaries can have accounts at MCB, other local banks or MCB subsidiaries.
Payment File Upload
Prepare payments in the corporate’s accounting package, export to a file and use MCBDirect Corporate to manage approval, authorization and upload to the bank. Once uploaded, payments are processed in real-time.
Intraday Online Transaction Reporting
This Online System is a payment reporting mechanism offered by MCB, and its subsidiaries. Vendors that are enrolled in this Online System are provided with a mechanism to securely download regularly scheduled payment reports, with the intention of the payments being automatically applied to the customers’ accounts on the vendor’s billing system. Customers of participating vendors see payments made at the Bank reflected on their vendor accounts within minutes; thus providing excellent customer service and a vital payment link.
The Bank generates a payment report every 5 minutes, 24 hours a day, 7 days a week, and makes the report available on its Secure FTP server. The download, and subsequent payment posting, is typically performed by custom software written by the vendor (the Bank can provide references to companies that can assist in the writing of this software, if necessary). The report contains final payment information; meaning that the funds have already been collected and deposited into the vendor’s account.
Payments can be initiated from one or more of the following six different payment channels of the Bank:
Additionally to the intraday payment files an electronic version (CSV) of the account statement can be made available for pickup which could be used for consolidation purposes.
When MCB Direct Corporate and Online Transaction Reporting are combined they are a powerful tool for your business, especially when combined with an automated import in your business accounting software. The Online Transaction Reporting tool is the key here.