ENHANCED DIRECT ENTRY SOLUTIONS
SUPERCHARGE YOUR BUSINESS
ASL’s Enhanced Direct Entry solution is used to batch process high volume bank transfers, salary, government benefits and direct debit transactions at high speed.
ASL has membership and fast direct connection into COIN. This eliminates the need for 3rd party vendors, and gives our clients’ peace-of-mind, knowing their DE solution is processed and supported entirely within our secure ASL environment.
ASL offers two types of Direct Entry solutions:
- Standard Direct Entry
- Government Direct Entry – compliant to stringent Government requirements
Direct Entry uses the Bulk Electronic Clearing System (BECS) for electronic debit and credit payment instructions.
This system co-ordinates and facilitates the exchange and settlement of bulk electronic transactions between banks. Direct Entry is generally used for smaller day-to-day payments, but is available for payments up to $100 million.
It is an essential service for:
- Financial Institutions offering transactional banking
- Companies wanting to credit or debit their customers’ or their staff accounts
To make and collect payments, a business needs to be approved as a Direct Entry user by an accredited financial institution, that is, ASL.
We are one of Australia’s largest Direct Entry (DE) processors, after the Reserve Bank of Australia (RBA) and the ANZ, NAB, Commonwealth and Westpac banking organisations.
ASL is one of a small number of accredited tier 1 participants of the BECS clearing stream and provides tier 2 sponsorship to our customers.
Our solutions meet or exceed the Australian Payments Clearing Association’s (APCA), requirements and industry standards. We can also offer ASL-supplied BSBs or help source your own.
KEY FEATURES FOR YOU
There are several key features on offer with ASL’s Enhanced Direct Entry solution:
- Scheme sponsorship, Direct Entry user number – your own unique identifier
- Same day, secure settlement (up to 5 times a day, plus one overnight)
- Batched payments capable of reliably handling high transaction volumes
- Daily reporting (Via ASL’s intuitive Direct portal)
EXPERIENCE KEY BENEFITS
The key benefits of ASL’s Direct Entry solution are:
- Relatively low cost
- Very easy to implement
Our customers benefit from:
- Dedicated Account Management with access to a range of product, technical and operational resources.
- 24/7 monitoring and business continuity management.
- Best-in-class payment products to support your business with ongoing thought leadership and planning to ensure future products are available when your Customers need them.
- Payment experts available for consultation on your business and will represent your needs with key Suppliers, and industry regulators, associations.
- Customer and Product on-boarding are supported by a dedicated Implementation (Project Manager) so all our customers are supported at any point of these changes.
ASL has operated in the Australian market for over 30 years, supporting organisations across the country, and International businesses expanding into the local market.We were the first non-bank to hold an Exchange Settlement Account (ESA), allowing us to settle directly with the Reserve Bank of Australia.
We have a direct and secure connection into the New Payments Platform (NPP), and have direct COIN connectivity.
Since 1994, we have also held a full Australian banking license (ADI).
APPROVED & SUPERVISED
Have peace of mind. We are an approved deposit taking institution (ADI) and supervised by the Australian Prudential Regulation Authority (APRA).