The enhancement to the firm’s online information reporting and transaction initiation service will provide automatic “alerts” via e-mail, pager, fax or mobile telephone when a specified event is pending, such as the receipt of an incoming wire transfer, or suspect items awaiting a pay/no-pay decision.
Currently, the event manager module of iTelecash offers notifications for events such as:
- automated clearing house (ACH) return items,
- notifications of change and pre-notes,
- Mellon positive pay suspect items and
- items pending.
Also available are incoming and outgoing wire notifications, which can be customized to specific accounts; and reminders for items waiting approval, according to the firm.
According to Mellon, other recent iTelecash updates include the ability to:
- initiate, correct and release electronic payments of state and federal tax payments with full reporting capabilities
- initiate wires and repetitive requests, and access reports
- access automated funding and concentration of funds (COF) transaction entry
- enter, correct and release transactions related to Mellon GCM’s Masterfile Payment System (MPS)
- create electronic payments via customer initiated payments (CIP) transaction entry
- receive online account analysis statements
- review affiliate and account-level information with up to six months of history
Mellon says it plans to continue adding other services and reporting options on a continuing basis to the service.