Concourse — Extended Settlement is an advanced EFT payment transaction settlement and reconciliation solution. Its rules-based engine and continuous processing architecture combine to form one of the world's most reliable and flexible transaction settlement and clearing products. Concourse — Extended Settlement allows companies to do the following:

• Define settlement and reconciliation rules without changing code
• Align accumulation and distribution plans and rules with a specific business model
• Support multiple settlement schedules
• Operate in either hub-spoke or point-to-point capacity or a combination of both
• Settle according to currency
• Create funds distributions that can cross business lines
• Include peripheral businesses such as Independent Sales Organizations
• Access settlement activity in real-time
• Automate reconciliation processing
• Analyze user-defined online summary reports
• Grant client access via a secure browser interface

Below is a more extensive overview of the specific features and corresponding benefits of Concourse — Extended Settlement.

As with the other Concourse products, system owners are able to use the user-friendly Expression Generator to configure the Concourse — Extended Settlement product. As a result, user-defined business rules can be invoked to determine the accumulation and distribution plan for a given payment transaction. Multiple plans can be configured to allow the same transaction, fee, or dispute to be analyzed for external funds movement and for internal funds movement to a general ledger.

Concourse continuously processes electronic payment transactions from multiple sources and concurrently calculates the resulting settlement positions. Because the data is being loaded in near real-time, settlement processing is spread across the day. This not only ensures on-time settlement, it also provides continuous access to financial positions anytime throughout the day.

Concourse — Extended Settlement provides both hub-and-spoke and point-to-point settlement. Hub-and-spoke settlement assumes the Concourse system owner is the settlement hub through which all funds are exchanged. In this model, all settlement end-points have a settlement position relative to the system owner. The distribution of funds between the system owner and each defined business can be configured independently. Point-to-point settlement is a model that allows businesses or clients of the system owner to settle directly with each other. Additionally, Concourse — Extended Settlement supports the configuration and processing of both hub-and-spoke and point-to-point settlement within a single Concourse system.

Concourse — Extended Settlement provides optimum flexibility with regard to funds movement. For example, Concourse offers an unlimited number of settlement accounts per business, allowing for more granular funds movement based on attributes of the transaction, fee, or dispute. Concourse — Extended Settlement also offers companies the capability to recognize third parties through secondary stage funds movement. Secondary stage funds movement allows funds to be "fanned" beyond the initial settlement entity. This is often used to support the sharing of surcharges, fees, and commissions.

Concourse — Extended Settlement generates summary data that is used to generate client, processor, and system owner reports. These summaries are also used to create a settlement file, such as ACH , to facilitate external funds movement between the system owner and settlement entities. The summary data can be extracted to external systems, such as a general ledger system, to facilitate accounting. Customer-specific summaries may be created as a cost effective means of integrating existing in house systems with the output from the settlement service.

Concourse — Extended Settlement provides a powerful report viewer, called the Settlement Summary Viewer, which presents report views to an online user in near real-time. A user can download settlement views in a traditional report format or they can choose to import the data in a spreadsheet format. The spreadsheet format allows the data to be imported directly into a business's back office processing environment.