While a centralised payment factory solution is fine in theory, care needs to be taken to ensure that the proper controls are in place. Individual identity signing of all actions provides an audit trail. For instance corporates need procedures in place to track who touches the payables file between its release from their Enterprise Resource Planning (ERP) or treasury system and its transmission to the bank.
System passwords scribbled on Post It notes and stuck to treasury work stations and multiple employees using a "communal" logon – that never happens in your organisation, right?
