Non-bank Financial Institution Casebook

| 7 RETURN TO CONTENT PAGE The Result With the solution available around the clock, AXA Singapore collects and receives funds instantly from customers anytime, at lower costs than current channels. This unlocked greater working capital value compared to other collection methods, such as by accepting credit cards or checks, where they would have to wait for the credit card settlement cycle or check receipt and deposit before receiving funds. Payments received via PayNow FAST allowed AXA enhanced control of their cash flow and facilitated forecasting and planning activities, eliminating uncertainty around collection lead times. With the transaction reference embedded in the payment process, AXA was able to reconcile receivables easily with their bank statements, increasing overall operational efficiency. With the solution available around the clock, AXA Singapore collects and receives funds instantly from customers anytime, at lower costs than current channels.