Payments
Significant Changes are Needed for Payments Infrastructures
As electronic payments are increasing banks are faced with declining margins for payments transactions due to new regulations, increased competition, and increasing costs per payment. A recent Boston Consulting Group report indicates that payments providers need to reduce costs by between 10% and 35% by 2012 to keep cost-income ratios stable. To pursue new opportunities such as mobile and healthcare payments, and efficiently implement enterprise risk management, fraud, and compliance initiatives, banks need to make significant changes to their business processes and payments infrastructure.
Learn How Progress Can Help
With Progress Software, banks have increased visibility into payments, and a “sense and respond” infrastructure that existing and new processes can tap into. Progress helps banks transform their payments operations so they can become more cost efficient and innovative by bridging the islands of information across middle and back office systems. Progress can help improve your payments processes in the following ways:
- Gain insight into and improve your payments processes
- With business process management business analysts can automate payments processes such as exception management and case management and then gain visibility into process inefficiencies and make improvements. With business transaction assurance the operations team can monitor payment flows and quickly identify, resolve, and prevent lost, stalled, or invalid payments. Finally, business activity monitoring dashboards deliver current and historical payments information to the line of business so they can be alerted to relevant events and gain a single view of payments activity.
- Build a payments gateway
- A payments gateway requires the integration of multiple, constantly changing payments standards such as SWIFT (MT, MX), SEPA, ISO 20022, and legacy ACH with internal data models. Progress provides rich data exchange tools and pre-built financial standards libraries to speed development and maintenance cycles and significantly lower the cost of managing a payments gateway.
- Get a firm-wide, intraday view of risk, fraud and regulatory compliance systems
- Using Progress’ application integration tools you can integrate your risk management systems with the systems that supply the data for compliance, so information flows in real-time. Using business event processing, you can monitor relevant events and historical information, then immediately alert and take action if there is a risk, fraud or compliance issue.
- Improve quality-of-service and leverage mainframe resources
- Payments downtime is not an option, and to decrease costs you need to create mainframe services that can be consumed by other processes. Progress provides a highly reliable and continuously available enterprise service bus and mainframe integration tools to integrate new and existing assets.
So whether you are looking to improve how you manage exceptions or build an enterprise payments hub, Progress can help.
Learn more about Progress’ payments solutions:
- Meeting European Union Payments Services Directive and SEPA Compliance
- Addressing SWIFT Compliance
- Correlate Business Events to Gain New Insight into Payments Operations
The AITE Report 
