• Direct File Transmission

  • Transmit card, wire, ACH and check payments files electronically – along with relevant payment information – using virtually any accounting system.

    Centralizing and automating your payables processing so that all of your outgoing payments are transmitted through the same system is a B2B best practice. 1 It can help lower costs, enhance visibility, improve control, mitigate fraud, and simplify accounting. SVB transAct Gateway – a direct file transmission platform that integrates with your accounting or ERP system – enables you to centralize your card, wire, ACH and check payments processing. You can choose to transmit files separately by payment type, or consolidate them all into a single file to initiate payments to vendors, employees and other payees.

    How SVB transAct Gateway Works

    How transAct Gateway works

    Transition from manual processes to straight-through-processing and reduce the cost per payment.

    A 2010 report by the Aberdeen Group2 states that best in class companies are averaging less than $5.00 per payment transaction while the worst case is more than $20.00. Much of the higher costs are attributable to creating and modifying files manually, and the lack of an easy way to obtain and manage vendor data.

    More than a file transmission service, SVB transAct Gateway provides automatically generated images and data remittance information for each payment processed. You can even choose an option that notifies your vendor or supplier via email so that they can link to the site and view, print, or save the remittance information – they can even download the data in their specified accounts receivable system data format. Easy access to this information can measurably reduce the demands on your payables staff to research payment queries.

    SVB can also help with your efforts to migrate from checks to electronic payments such as ACH or cards. Converting your vendors from accepting checks only to electronic payments, on a one-on-one basis, can be time consuming and requires a disciplined approach. We offer a comprehensive service that contacts your vendors on your behalf and secures their agreement to accept ACH and/or card payments.

    Reduce errors and simplify reconcilements

    Unlike paper based and manual-intensive processes, electronic payments generate faster cycling times, offering faster ways to verify payments along with and improved accuracy rates. With the amount of manual data entry and check processing reduced, the likelihood of human error –and fraud – is also drastically lowered.

    Key Features

    • Submit separate or integrated files and transmit them directly from your ERP or accounting system in our standard format or in your preferred file type
    • Fully web-based application accessible via a SVB portal
    • Centralized vendor database to support migration to electronic payments
    • Automatic splitting of payment types (cards, wires, ACH, and checks)
    • Comprehensive transaction archive and online storage
    • Dedicated resources to ensure a smooth and expedient implementation process

    Key Benefits

    • Improve accuracy in payments processing
    • Lower operational and transaction-based costs
    • Expedite conversion from check to electronic payments
    • Improve communications with your suppliers


    1 Association for Financial Professionals, B2B AP Best Practices, by Matthew Dragiff, April 2010
    2 Why A/P Automation Maters – Revisited, Aberdeen Group, June 21, 2010


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