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Clear2Pay upgrades Corporate2Bank Payments solution
Niche solution provides banks the
ability to offer corporates standardisation, improved reconciliation
and enhanced reporting.
Brussels, 14 October 2004 - Today Clear2Pay announces at
Sibos, the annual SWIFT conference taking place in Atlanta (US),
the enhanced Corporate2Bank Payments solution (C2B). In response
to market demand from both the corporate and the bank side, Clear2Pay
has enhanced its bulk payment offering with the launch of Corporate2Bank
Payments. Clear2Pay C2B Payments provides banks with a solution
to directly interact with their corporates' ERP systems helping
them to optimise their financial supply chain. Banks and corporates
alike can thereby dramatically decrease their processing costs.
Clear2Pay C2B Payments improves the end-to-end information exchange,
from buyer to buyer's bank, to seller's bank and to the seller,
making it seamless between the ERP systems of corporates and the
front-, mid- and back-offices of banks. Its flexible routing intelligence
can also be used to directly deliver payment orders to local - and
regional clearings or to SWIFT.
Key features
- Complete automation of payment processing
- Supports any payment format (MTXXX, EDIFACT, ISO20022, etc.)
- Ability to warehouse payments for later processing
- Secure web screen to configure electronic notifications of
payment status
- Wide range of standard internal and external communications
adapters for rapid implementation
- Processing of remittance advices
The C2B payments application can be integrated with external customer
systems and internal bank systems in a variety of modules.
Clear2Pay's Mickey Vonckx, VP Corporate Payments, states: "When
it comes to payment services, corporates tend to have two main complaints:
the absence of interoperable message standards and the inability
to include remittance data in the end-to-end payment chain. From
our discussions with banks we know that this is a top priority in
relation to their corporate clients, as the recent attention for
this issue at Sibos demonstrates. By adopting industry standards
banks can remove the complexity of integrating with a myriad of
proprietary technologies and concentrate on offering value-added
services to their corporate clients instead".
Note
Clear2Pay recently (October 12) launched the PayPark Bank Payment
Hub, which is a core payments processing engine which decouples
the business processes from the underlying functional components.
The Corporate2Bank solution launched today is a vertical solution
for a particular business need. Together they form a prime example
of Clear2Pay's strategy to offer distinct solutions for particular
'vertical' business issues to banks and or their clients, stand-alone,
whilst at the same time addressing the need of many banks for step-by-step
migration to a flexible next generation payments environment.
About Clear2Pay
Clear2Pay is an innovative e-finance company focused on delivering
globally applicable solutions for secure, timely electronic payments.
Headquartered in Brussels, Belgium, the company's focus is to facilitate
banks and financial organizations in their provision of electronic
payments services. Clear2Pay's technology helps to reduce transaction
processing costs, and to deliver new, compelling e-payment services
in a competitive way. Clear2Pay's payment solutions offer organisations
easy, branded ways for their customers to pay online: from complex
trade-supporting business-to-business environments, through e-commerce
applications, to retail payments and micro payments. Functions embrace
payments origination, reporting, linkage with back-office processing
systems, clearing, netting and settlement. Clients include global
and major regional financial institutions such as ING, SEB Kort,
LuottoKunta, VISA Europe, MasterCard, ANZ, National, ABN AMRO, Commonwealth
Bank, Krung Thai Computer Services (KCS) and Reserve Bank of Australia.
Clear2Pay operates out of Belgium, the Netherlands, Spain, United
Kingdom, Australia and Singapore and currently employs over 120
staff.
More information is available on www.clear2pay.com.
About Corporate2Bank Payments (C2B)
Clear2Pay C2B Payments enables banks to securely receive payments
from corporate or business customers and other banks. Providing
a complete validation and management process for all payments before
reaching the bank's host systems, C2B Payments increases STP, reduces
costs, provides better management of payment processing and enhances
customer service.
Customers are given a choice of communication channels, including
browser, HTTP, FTP, EDI and others. C2B Payments provides full security,
validation and limit checking capabilities and accepts payments
of any size, format and type - including payrolls, dividends, retirement
benefits and supplier payments - whether as a single payment or
a file containing thousands of payments. Payments can be transformed
from a variety of formats into the format required by the bank's
host systems.
C2B Payments accepts payments via any of the external communication
adapters. After satisfying optional security checks for digital
signatures and decryption, payments are passed through a number
of processes that can be selected to suit the bank's particular
operating requirements.
***
Contacts for More Information:
Clear2Pay NV/SA
Conny Dorrestijn - VP Marketing and Communications
E:
M: +31 651 067201
More info in the Corporate2Bank.pdf
265 KB
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