Microgen Financial Systems: Who are we?

Microgen Financial Systems offers a range of financial services technology systems focused on the global Wealth Management sector and the UK payments market, and also provides Application Management services.

Modern, secure software to manage payments for businesses.

Microgen offers a range of Bacs software products which enable organisations to make automated payments in the UK using Bacs payment services over the internet (Bacstel-IP).

Why choose to use Bacs?

Bacs is the safest, easiest, most reliable and cost effective way to make electronic payments. It gives you full control of all your payments including payroll and direct credit and is the only way to collect direct debits with the full direct debit guarantee. 

Why use Bacs software in your organisation?

Bacs software gives you complete control of your payments process and enables you to submit your payment files to Bacs directly. This has the following advantages:

  • Faster than going through a third party
  • Reducing the number of points in the payments process where there may be a security risk or a risk of failure
  • Providing immediate visibility of payment submissions
  • Enabling the use of batch transactions to give an unlimited number of payment transactions per day therefore reducing the workload of individual manual transactions
  • Allowing you to make payments within your own timeframes rather than fitting in with a third party’s payment runs 

What is Microgen Bacway?

Fully approved by Bacs, Microgen Bacway® is a suite of market leading payments software products which are highly flexible and configurable to meet your business needs.

Microgen Bacway can be used by organisations submitting their Bacs payment files directly to Bacs, as well as by organisations submitting on behalf of others. All the Microgen Bacway software products offer a level of core functionality that supports all the principal Bacstel-IP options (such as direct debit and direct credit in both direct and bureau submissions and the download of all relevant reports etc.)

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Professional
a standalone application for the small to medium-sized organisation.

Enterprise
a web-based application requiring only one server installation of the software for multiple users and is suitable for medium to large organisations.

Enterprise HSM
a fully automated solution (both submission and report download processes) which utilises a Hardware Security Module (HSM) for the application of signatures.

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Why choose Microgen Bacway?

  • Improved productivity

    From a simple “click through” process through to a fully automated import and submission of source files from your back office or accounting systems, Microgen Bacway ensures the integrity of your payment data is maintained. This reduces the errors created through manual processing.

  • Improved security of payments data

    Microgen Bacway Payment files are transmitted to Bacs via the Bacs accredited encrypted mechanism and your bank’s approved Signing Solution. All payment files and downloaded Bacs reports are securely encrypted within Microgen Bacway, and are only accessible by authorised staff. Your data secure and the risk of fraudulent transactions is reduced.

  • Improved managerial control

    To maintain security within an organisation and to prevent costly internal errors, Microgen Bacway provides a set of role- based permissions so access to tasks can be assigned. Limits can be set on the value of an individual payment, the frequency of payments, and on a role or individual’s ability to send a set of payments above a certain total value.

  • Improved data accuracy

    All data is subjected to a stringent validation process within Microgen Bacway to eliminate business critical submission errors. The time and costs involved in correcting such errors after payments have been submitted to Bacs are therefore reduced.

  • Improved traceability

    A full audit trail and archive of all submitted payments and downloaded reports is available in Microgen Bacway. This enables the interrogation of historic data, for example to confirm that a payment has been made or to detect fraudulent transactions.

  • Improved peace of mind

    Microgen has been a market leader in the payments software sector for over 20 years. With clients of all sizes we have expert knowledge to ensure that Microgen’s payments software meets your needs, now and in the future.

  • Improved visibility of cashflow/payments

    Clear reporting within Microgen Bacway provides timely access to summary payments information which enables efficient financial reporting. Specified users can receive email notifications at each or any stage of the payment submission process.

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Product features:

Bacs accessibility
As an accredited Bacs software supplier Microgen Bacway provides users with access to all Bacs functionality including:

  • Secure transmission of payment information directly to Bacs
  • Collection and display of Bacs-generated arrival and input reports
  • Collection of Bacs-generated DDICA, ADDACS, AWACS and returned AUDDIS reports
  • Collection of Bacs-generated unpaid/unapplied items reports (ARUDD, ARUCS)
  • Automatic update of the Bacs calendar and sort code/account number validation information
  • Fully RTI compliant
  • Optional functionality include Bureau, Bank grade and Banklink

Security
Microgen Bacway is a highly secure mechanism for making Bacs payments in terms of both payment data being transmitted to Bacs and internal security settings within an organisation.

  • Multi-tiered permission levels
  • Full support of the Bacs PKI implementation up to and including the latest SHA2 specifications
  • Multi-tiered payment visibility levels
  • Full audit visibility and history of transmitted files and submission responses
  • Role-based user access control
  • Submission level and file level digital signature capability
  • Optional dual signatory function

Business Integration
Microgen Bacway integrates easily into back offices systems and back office business processes to provide a seamless Bacs payment function. Functionality includes:

  • Direct and intuitive integration into back office and accounting systems by mapping and importing of source data including industry standards for example text, CSV, XML and Bacs Standard-18 format
  • Easy to use pre-submission check list
  • Secure ad-hoc payment facility
  • Notification by email of key system activities and issues
  • Multi bank and service user numbers capability
  • Manual sort code, account number and branch information search option
  • Archive/backup options

Data Integrity
Microgen Bacway ensures data integrity at all times. Functionality includes:

  • Data validation of imported data, including sort code and modulus checking on bank account details
  • Automatic update of the application
  • Quick correction editing features for invalid payment files

 

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