Called a mandate library or mandate library, NEOFI Mandate is designed around a mandate database which is used for the management of SEPA direct debits (SDD).
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In addition to its archiving capabilities, NEOFI Mandate primarily provides a notarial dimension by retaining all requests related to each mandate, namely:
This allows for the tracking of the entire lifecycle of each mandate.
NEOFI Mandate , custodian of direct debit data :
In order to process the volume within demanding deadlines while remaining open to sharing with business applications, NEOFI offers two different ways to interface with the mandate library:
Direct debit data is always checked against the mandate database: standard checks (such as the Unique Mandate Reference (UMR), the International Creditor Identifier (ICS), the account number, the signature date, etc.) can be enhanced with customized checks by adapting the appropriate workflow rules.
NEOFI can delay sending direct debits to comply with the date ranges imposed by each bank's regulations. Conversely, if direct debits are received late, NEOFI Mandate can notify authorized personnel and suggest appropriate corrections before sending them to the bank.
