The ADF has recently completed a business process re-engineering project with the CBA with regard to payments to ADF customer accounts.
Previously, the CBA would hold all transactions made to ADF customers each day, delivering to the ADF in one large batch overnight. The ADF would process these payments the next morning which meant that customers were receiving transactions up to a full day after they were received by the CBA.
From now on, the CBA will deliver customer transactions to the ADF several times throughout the day. The ADF will process them as they are received.
The benefits for ADF customers include:
- Positive impact on liquidity and cash flow;
- Merchant settlements processed the next day; and
- Easier reconciliations as a number of transactions will no longer have both an effective date and posted date, they will simply have a posted date.
The ADF is always looking for ways to improve our customers experience and would value any feedback you have on this improvement or other improvements you would like to see.