Features and Functions — SmartVista Back-Office

SmartVista Processing Solution Overview

INTRODUCTION
BUSINESS DIFFERENTIATORS
ESSENTIALS
FEATURES AND FUNCTIONS
- General Features
- SmartVista Front-End
- SmartVista Back-Office
  - Customer Application Processing
  - Card Production
  - Customer, Account and Card Management
  - Transaction Processing

As mentioned in Principles of Operation and Transactions, SmartVista Back-Office focuses on financial transaction processing, i.e. import, generation and export of financial messages that SmartVista Back-Office receives and sends over its clearing and settlement interfaces. The main entity that reflects the transaction in SmartVista Back-Office is the financial message record, which serves as a source to generate various postings and holds all the necessary details, such as credit and debit accounts, transaction and value dates, transaction and settlement amounts and currencies, etc.

SmartVista Back-Office transaction processing functions cover the following areas,

for Issuer transactions (Us-on-Them and Us-on-Us):

receive incoming financial transaction messages involving 'our' cards from the Card Scheme networks via the off-line Clearing Interface,
match them automatically with authorisation records received from SmartVista Front-End, and, if there are no exceptions, pass the necessary postings to the relevant SmartVista Back-Office customer and General Ledger accounts.
If any inconsistencies are found, or a dispute is raised by the Cardholder, pass the transaction for Manual Authorisation Matching or Dispute Processing using SmartVista Back-Office on-line GUI forms.

for Acquirer transactions (Them-on-Us and Us-on-Us)

generate outgoing financial transactions involving 'our' merchants based on authorisation records received from SmartVista Front-End or and/or on sales slips (vouchers) received from merchants and entered directly into SmartVista Back-Office,
send them to the relevant Card Scheme networks via the off-line Clearing Interface and pass the necessary postings to the relevant SmartVista Back-Office customer and General Ledger accounts
receive any rejected transactions from the incoming Clearing Interface and pass them for Manual Transaction Adjustment/Repair or Dispute Processing using SmartVista Back-Office on-line GUI forms.

For Us-on-Us transactions, both Issuer and Acquirer, especially when it involves local or private card products and services, the 'closed circuit' processing model can be implemented, so that financial messages will be exchanged directly between the SmartVista Back-Office Issuer and Acquirer components, bypassing any external Card Scheme networks.

SmartVista Back-Office also supports Account Transactions that are generated based on postings imported from the Core Banking System, to keep SmartVista accounts synchronised with the accounts in the Banking System.