The Blue Jay represents our basic package, delivers core features and comprehensive support. Alchemy is a flexible and scalable solution that will support you in the way that your bank does business. Next to the core features you can choose to automate your entire back office by activating one or more ‘custom modules’. Below is an outline of these functionalities.

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Core Features:
Advanced Payment Processing, Real-time Compliance Filtering, Performance Dashboards, and More

The Agile Blue Jay package is the perfect starter bundle, designed to enhance agility and adaptability. It offers essential payment processing capabilities, ideal for cross-border transactions by industry standards. This bundle is an excellent fit for financial institutions that are in the early stages of their automation journey but need reliable and efficient operations. 

With features such as complete straight-through Processing, Real-time Compliance Filtering, Performance Dashboards, and more, Alchemy integrates robust functionalities that automate your internal, domestic, and international payments, standing orders, reporting, and compliance needs. It provides real-time APIs seamlessly connected to your core banking system.  

All these features are included in the Blue Jay package as well as ALL other bundles. 

Payment Operations Best Practices 

Alchemy automatically routes payments based on business rules through various electronic queues for handling or review by the bank’s appropriate officer(s). This allows the bank to maintain functional segregation for payment entry, verification, authorization, and compliance. The business rules determine how all payments are routed through the organization till completion and fulfillment. If no exceptions or other non-compliant situations occur, payments will be processed straight through (STP) through the bank in less than two minutes. 

The Alchemy Blue Jay bundle includes all the required automated functions for ensuring streamlined process improvements: 

• Payment Workflow Manager: Alchemy automates all the internal protocols used by the bank. Once defined and configured into the platform during implementation, these business rules are the intelligence used to perform dozens of automated activities, controls, and validations that have historically been done manually. The bank will be trained to update and add to these business rules to fine-tune the back-office operation when required. 

• Payment Routing: All payments will be routed to the correct correspondent or settlement bank based on a pre-defined set of standard business rules of each payment. If more than one correspondent is used for a specific currency, further business rules or a manual override performed by the entry officer will ensure efficient further processing. 
• Workflow Routing: Based on the type of payment, the workflow is determined for routing the payment to the correct queues. For example, should a payment exceed a certain monetary value, it may require authorization from a second authorization officer which is then automatically requested. 
• Posting Sets: Upon completion of the Entry, Verification, and Authorization processing steps, Alchemy will automatically select, generate, and process in real-time ‘balanced’ postings into the core banking system. 
• Currency Conversions: Alchemy will automatically perform all currency conversions required to process the payment. The exchange rates will be read from the core banking system. However, the bank may set up business rules to give ‘preferred’ rates to preferred clients. 
• Custom Posting Descriptions: Detailed posting descriptions will be selected and generated according to the bank’s specifications. These posting descriptions contain the information that will appear on the customer’s online or paper statements and notifications. The bank may display one line item or multiple lines of detailed payment data. 

• SWIFT connectivity and alternative XBS Integration: Alchemy supports seamless integration with both SWIFT and other alternative XBS (cross border services) providers like Mastercard, Thunes, and possibly others. By leveraging the SWISSRoute Service Bureau, co-established by Finastra and IBIS Management Associates Inc., banks gain access to cost-effective, compliant cross-border messaging within a highly secure environment. The SWISSRoute data center in Zurich, certified by SWIFT and MasterCard XBS, provides robust physical security, redundant telecommunications, uninterrupted power supply, and fire protection, ensuring reliable transaction processing.
• E-Alerts: Automated electronic alerts (email or other) notify bank officers or clients when payments require special attention, such as insufficient funds in an ordering account. This proactive messaging system ensures that all stakeholders remain informed of all exception items without requiring continuous monitoring.

• Standing Payment Orders:  Standing orders and future-dated payments, including account balance SWAPS, can be entered for automatic processing, eliminating all manual activities. If funds are insufficient, Alchemy will attempt to debit the account for several days and post an NSF fee if the payment fails.
• Flexible Fee Module: : Alchemy’s fee module allows banks to configure and manage transaction fees effectively. Alchemy automates calculating and posting all fees, including those tailored for standard and preferred customers. With the ability to apply fees using multiple parameters (such as fixed rates, percentages, or tiered structures), Alchemy streamlines fee management, supports strategic pricing initiatives, and enables the application of customized fees for preferred clients, boosting customer satisfaction and operational efficiency.
• Real-time Compliance Filtering:  All incoming and outgoing payments are automatically screened in real-time against the bank’s internal blacklist and external databases. This ensures compliance and protects the bank’s reputation. If a compliance match is found the designated officers are promptly electronically notified.
• Core Banking Posting API: Alchemy
  Alchemy integrates in real-time with any core banking system to access account and client data. Custom API development is available if a standard API is not yet available or in place, ensuring seamless data exchange.
• Nostro  Account Position Management: The Nostro Position Manager offers comprehensive real-time management of Nostro accounts. Treasurers gain easy access to current and projected positions, enabling effective daily monitoring and providing detailed transaction summaries.
• STP-Ready Payment Enrichment: Alchemy supports straight-through processing (STP) for over 98% of payments to automate transaction processing and reduce manual intervention significantly. Payments are automatically enriched with STP-ready data and criteria to reach the STP benchmarks according to the bank’s business rules, improving efficiency and profitability.
• STP Validation Manager: This feature ensures all payment fields, whether entered manually or through online channels, are validated for accuracy and completeness before fulfillment. For instance, payments to Europe are checked for correct IBAN numbers, preventing costly repair fees from correspondent banks.
• Standard Performance Dashboards: All Alchemy bundled packages are standard delivered with insightful Payment processing performance dashboards. These will provide real-time graphical reporting on payment volumes, STP, Compliance rates, revenues, and profitability per payment type processed.

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All Alchemy bundles run on World-Class Processing Infrastructure, no exception!

The Alchemy platforms are hosted in world-class, secure data centers adhering to the highest reliability, security, processing power, and advanced data protection standards. This includes robust security measures such as full encryption (at rest and in transit), compliance with PCI security standards, and flexible scaling options for on-demand growth. And more;

Key Features and Security Enhancements:

• Top-tier Data Center Hosting:
  Deployed in Tier-IV Cloud data centers in Toronto and Montreal Canada, ensuring the highest operational security, performance, and innovation. 
• Fully Encrypted Data:
  
  • Databases are fully encrypted, both at rest and during data transmission.
  • Alchemy adheres to a Financial Services Security Framework Certification, ensuring compliance with stringent industry standards.
  • PCI compliance for secure payment processing.

• Encryption and Compliance:
  • Databases are fully encrypted, both at rest and during data transmission.
  • Alchemy adheres to a Financial Services Security Framework Certification, ensuring compliance with stringent industry standards.
  • PCI compliance for secure payment processing.
• Backup and Scalability:
  • Offline encrypted storage backups for enhanced data safety.
  • Flexible and on-demand capacity scaling capabilities to adjust to operational needs.

• Secure and Reliable Connectivity:
  • Dual VPNs provide reliable, secure connectivity with core systems.

• User-Friendly Web GUI:
  
  • Alchemy integrates a modern web GUI. This interface replaces the standard green screen with an intuitive, web-based display, allowing users to access Alchemy’s functionality through a smoother and more visually appealing platform. This upgrade boosts usability, productivity, and the overall user experience.

• IBM Cloud Security Commitment:

• • Built on SOC 2-certified and ISO-certified infrastructure, with layers of security from software protocols to physical access controls.
  • Separation of duty ensures access with full action logging.
  • Regular penetration testing by IBM and independent third parties enhances security.
  • GDPR compliance and Privacy Shield adherence for data transferred from the EU to the U.S.
    

 Continuous Support and Client Success: 
Alchemy provides comprehensive support through a dedicated helpdesk and client success management commitment to ensure operational excellence and continuous client satisfaction.

• Helpdesk Support (under SLA): The standard Helpdesk Service includes:
  • End-User Support: Users can receive assistance via phone and email.
  • Technical System Incident Management: Support for technical issues reported during office hours (weekdays, 8:00 – 17:00).
  • System Patches and Fixes: Coverage for necessary patches and fixes related to standard system use and periodic OS upgrades.
  • Helpdesk Service Upgrades: Clients can choose to enhance their support plan with additional packages:
  • Extended Helpdesk Service: Expanded support during office hours from 8:00 to 21:00 on weekdays.
  • Premium Helpdesk Service: Comprehensive 24/7 support for continuous coverage.

Note: Incidents reported outside the agreed support window or on non-business days (weekends and holidays) incur a minimum charge of US$250 per incident or first hour of on-site support. Additional hours on non-working days are charged at 200% of the standard hourly rate.

• Dedicated Client Success Manager (CSM): IBIS Management is committed to fostering strong client relationships through a dedicated Client Success Manager. This proactive strategy ensures clients achieve their goals while experiencing continuous value from Alchemy’s products and services.
  • Critical Elements of the CSM Service:
    • Proactive Engagement: Continuous interaction to meet current needs and anticipate future requirements.
    • Client Success Executives: Focused on maintaining satisfaction and aligning product use with business objectives.
    • Sustainable Growth: Supports long-term growth by strengthening client partnerships.
  • Client Expectations: Clients can rely on personalized, proactive support to ensure long-term success. This approach emphasizes collaboration, trust, and a mutually beneficial relationship.