Facebook Twitter Linkedin
 

Monthly Posts: May

PAYaaS coming soon

Our new service PAYaaS (Payments as a Service) announced at EBAday 2010 Luxembourg

is in this week's

bobsguide NEWS
You'll find the announcement of our new service in the Financial Technology NEWS section on bobsguide - The Essential Global Resource for Financial Technology

Or you can read it here:

Business Information Systems (BIS) announces PAYaaS service
Luxembourg - 26 May 2010


At EBAday BIS announces the phased availability of its PAYaaS service starting 12 July. PAYaaS is a consistent package of services managing financial transactions for corporate treasuries and banks in the European (multicurrency) space, based on a specialized processing center which provides: transactions' processing, access to shared business modules, SWIFT conectivity and SWIFT business applications.

Up-page photo: First day at EBAday in our stand, starting the demos for our invitees

PAYaaS (Payments as a Service)

No matter the size of your business, PAYaaS is the optimal solution to account significant cost savings, business agility and risk mitigation in a very fluid business environment

PAYaaS (Payments as a Service) is a consistent package of services managing financial transactions for corporate treasuries and banks in the European (multicurrency) space, based on a specialized processing center which provides:

a)Transactions' management - by highly reliable and secure connectivity channel between the bank's back-office, its corporate customer's ERP and its correspondent banks:
-routing from/to back-office/ERP, towards SWIFT or other dedicated external networks
-formatting the payment, trade or securities instruments (credit transfer, debit instruments, direct debit, L/Cs etc.) for interfacing with market infrastructures (i.e. for RTGS & ACH subsystems).
-converting to/from SEPA or FIN standard
-authorizing, rejecting, archiving, reporting financial transactions


The hub keeps persistent tracks of all the financial transactions (using its own database) for improved reliability and audit trial

b)Shared business modules: AML (transactions filtering), liquidity reporting, competitive reporting, NOSTRO accounts reconciliation (for banks), and invoices / payments / statements of account reconciliation (for corporate)

c)SWIFT network connectivity via a SWIFT Service Bureau hosted by the same centre

d)SWIFT Business Applications (Exceptions & Investigation, Cash Reporting, Bulk Payments etc.).

Intertek ISO 9001:2008CMMI Level 2ISO  9001/2008 Dun & Bradstreet