To prepare for Sepa (Single Euro Payments Area) requirements and provide businesses and online merchants with Sepa implementation support, Axway (NYSE Euronext: AXW.PA), equipped SlimPay, a payment services independent provider, with its Axway Financial Exchange (FEX) platform to create a new service offering.
The new regulatory environment opens an opportunity for growth in the financial services industry. In less than 3 years SlimPay has taken the lead in its market, as one of the first payment institutions accredited by the Banque de France since the opening of the European market in 2010. Eager to help its customers overcome the strategic and technological challenges of SEPA implementation, SlimPay offers a pooled SaaS solution, based on Axway FEX, to aggregate payment orders, that is suitable for all formats and protocols. The service performs validation and alleviates businesses from configuring complex fraud management systems.
Processing payments in several European formats and offering all the required implementation and reporting tools, Axway FEX enables businesses to manage, consolidate and secure all their online credit transfers and direct debit transactions in compliance with SEPA processing time- frames and standards. By providing visibility, security and control over transaction flows, Axway FEX lowers costs and reduces risks.
"We operate mission critical services for our customers and we are required to guarantee 24/7 availability. The Axway FEX platform enables us to guarantee this availability," said Jean-Louis Hoenen, chief technology officer, SlimPay. "We needed a reliable and high-performance platform that we could quickly build our services and Axway had the best offer available."
Axway Financial Exchange is a flow exchange platform, going beyond simple file movement or translation, offering a broad range of functionality, including community management, multi-enterprise collaboration, robust analytics and process management.
With Axway Financial Exchange, SlimPay can give its customers visibility, security and control over their payment transactions. They can master the schedule of migration to SEPA, by keeping existing internal infrastructure assets while translating data into compliant formats. Axway Financial Exchange can manage high volumes of transactions and is scalable to meet future needs of increased number of financial flows.
"We are highly experienced in infrastructure and security for financial services because we have created or helped create many industry protocols. SlimPay is marketing an innovative, SEPA-compliant solution and we are delighted to be a part of it," said Mathias Bonnard, director, product and solutions marketing, Axway.