Interactive Reporting & Initiation Services

IRIS is Sovereign Bank's innovative information reporting and transaction initiation system. It puts the information you need to make cash management decisions in or out of the office, and it gives you the tools you need to execute those decisions in real time.

With IRIS, any computer can be your virtual bank by providing a continuously updated view of your company's financial position, and instant access to a full range of transaction initiation capabilities. And because IRIS offers you the ability to assign user privileges, you can maintain security and delegate work easily, efficiently, and effectively.

Complete, Convenient Access to Account Information
With IRIS, you gain immediate access to the reports you need to assess your cash position and make sound decisions. A menu-driven system makes it easy to access comprehensive current-day and historical data, including balances, the status of transactions, controlled disbursement information, and wire activity.

Data Export and Reconciliation Tools
A range of data export options make it fast and easy to move information from IRIS onto your internal systems. IRIS is compatible with industry-standard export options, including QuickBooks^® and Quicken^®, BAI2, and comma-delimited and tab-delimited formats.

Speedy Transaction Initiation
With a few clicks of your mouse, you can initiate real-time domestic and international wire transfers in foreign currencies and U.S. dollars, make federal and state tax payments, transfer cash between accounts, collect or disburse ACH payments to customers or suppliers, query check status and initiate stop payments, or pay your employees.

State-of-the-Art Security and Technical Support
IRIS features the most up-to-date firewall protection, encryption, and user authentication technologies; as well as a dedicated team of technical professionals to provide real-time support. You can be assured that all of your information and transactions remain secure.

Fraud Protection
Retrieve images online, allowing you to view both sides of checks and deposit tickets, and pay or decline suspect checks using our image-based Positive Pay service. IRIS can also update your check-issue file, and enable you to initiate stop payments online.

Easy Administration
IRIS empowers you to administer transaction initiation and information reporting across your organization efficiently and securely, and adjust quickly to staffing needs and security requirements. You can add, modify, and delete users without having to contact the bank; limit information viewing and transaction initiation permissions by individual staff members based on responsibilities; and manage and monitor work flows more effectively by segregating tasks by user—with all user activity being tracked on a click-by-click basis in our audit logs.