5 Things To Know About Global Payments Banking Solutions on IBM Power Systems
BenjaminKoehler 270006J55E Visits (9932)
The payment landscape is changing faster than ever. Increasing regulation, rapidly advancing technology, and growing customer expectations are reshaping the way banks and financial institutions deliver their payment capabilities to the market. GPP-SP, a Payment Services Hub offered by Fundtech and running on IBM systems, represents a collection of rules-driven payment services to master this challenges.
Here are 5 things to know about Global Payments Solution in IBM Power Systems.
1. Fundtech – The Leader in Global Banking Transaction Solutions
Fundtech has a proven track record of leadership and innovation in the Transaction Banking business, with the most extensive set of systems and functionality supporting the full breadth of payment processing, cash management and financial supply chain services. Their systems enable financial institutions to reduce operating expenses through high-velocity STP automation; and to gain a competitive advantage by offering clients payments value through a wider choice of services and greater control that can attract new fee revenues.
2. GPP-SP handles many payment services
Fundtech on IBM Power systems operates as a single consolidated payments solution offering services that facilitate the execution of different payment types: high value/ high care payments, mass payments, SEPA payments, UK Faster Payments, and others with a common payments infrastructure, processes and procedures to simplify operations and reduce operating expenses.
3. GPP-SP combines the agility of SOA with the flexibility of a rules-based system
On the one hand, flexibility and speed are the benefits of a business-centric IT approach. Payment operations reap these benefits through a set of linked, reusable business tasks or services while reducing overall hardware and software complexity and cost. On the other hand, service-oriented architecture (SOA) based payment hubs allow the banks to offer new levels of business and functional payment service capabilities through this affordable processing platform. These two aspects are combined by GPP-SP. The rules engine enables the business users work in their language in a global environment. They don't need additional programming for implementing new rules. This saves time and money by improving the time-to-market for new products.
4. The solution shows good results in performance and functional tests
IBM and Fundtech conducted a mass payments test for a large Tier 1 global bank. They analyzed their current and future goals for banking and market performance. The results of running GPP-SP showed that it was able to meet all goals, and double or triple them in some cases. Also it passed all functional tests and showed nearly a linear scalability with stable performance in small, medium, and large application server configurations.
5. Global, real time, responsiveness, cost-efficient and future proof are banking buzzwords when describing their needs
Due to changes in the market, banks are facing new requirements for their IT environments. Here is a short description of them:
GPP-SP is designed to help the banks to meet those needs. Leading financial institutions have successfully used this solution.
To read more about Fundtech’s Global Payment Solution on IBM Power Systems, look at our IBM Redbooks Solution Guide: Fund
Benjamin Köhler works within the IBM Redbooks Team with technical experts to create books, guides, blogs, and videos Follow Benjamin on Twitter at @koehlerBenjamin.