The most efficient solution for SEPA direct debit
In cooperation with FINA, TIS Group has developed a solution that enables more efficient debt management!
Collaborating with the Financial Agency (FINA) in Croatia, TIS Group has developed FinTIS, a solution that simplifies collecting and managing payer consent, provides support for creating a SEPA direct debit order, and allows the conversion of different sources (Excell table data or web service) into a SEPA direct debit order.
FinTIS was created in need to respond the needs of businesses in the Republic of Croatia to easily and efficiently connect their IT systems to SEPA direct debit. This solution enables legal entities in Croatia to manage receivables more efficiently as payee, and carelessness bills paying to the payers.
By making their business easier!
Using a direct debit payment services, business users have control and insight into the collection of their receivables, which has a direct influence on the monitoring and control of liquidity. In this case, the FinTIS enables them a simple and standardized process of preparing for direct debit payment. The system defines the exact date of collection and feedback in case of unsuccessful payment. Exchange of information with all participants is standardized and enables automated communication among all the participants of the business process, including financial institutions. In addition to the processes required by law, the application contains functionalities that make it easy to work and monitor the process.
Using FinTIS companies
- use a large number of FINA offices for their own business purposes
- in addition to their own or FINA’s offices, they may use the application on their own behalf
- integrate this application in their own ERP system and implement SEPA direct debits
- initiate payments from the end-user of the service and thus more efficiently manage receivables from end-users of their services.
FinTIS is fully compliant with the European SEPA standard and enables the use of the SEPA direct debit payment instrument in the simplest and most efficient way.
Due to FinTIS, companies connect their IT business systems, such as ERP, with SEPA direct debit functionality in a simpler way and without the necessity to develop their own technology solutions!
The system assures businesses management of contracted services and end-user approvals by using a simple web application. Also, through the web service, web applications can receive or send SEPA direct debit approvals automatically or through the web application interface and integrate them directly into their IT system.
Using a FINA’s infrastructure, FinTIS enables fast implementation of the functionalities and contracting the SEPA direct debit service with end-users, creating a SEPA order in the appropriate SEPA format for submission and receiving a response on the status of order execution.
Benefits of using a FinTIS
In addition to simplifying business and making it more efficient, FinTIS requires no additional investment in developing its own solution for connecting business systems to SEPA direct debit functionality.