Clear2Pay, the international technology provider of next generation payment solutions for financial institutions announces today that its Open Payment Framework (OPF) has received full Fedwire certification.
The Fedwire certification covers both the actual Fedwire communication protocol as well as the Fedwire payments application. The application certification comprises the transmission and receipt of payment, administration and service messages that simulate actual production messages and assure that assure that OPF meets the protocol and messaging standards mandated by the Federal Reserve.
Warren Gardiner, Chief Product & Strategy Officer at Clear2Pay states: "The market for Fedwire certified solutions is characterized by legacy products based on 10+year old architectures. With OPF's entry in this market, the banks now have a genuine alternative in our new, exciting, modern SOA Fedwire certified payments platform, which will future proof the banks for the next 10-15 years"
Doug Gross, General Manager Americas concludes: "We are very excited to be the first company in the US market to deliver end-to-end payment processing through one single platform: our Open Payment Framework that has proven itself in all corners of the world at leading financial institutions. With this certification it can now be deployed as a single platform for Fedwire execution connecting to a bank's existing origination system or fully end to end. As such we offer banks a true option to migrate to a fully open and agile enterprise payment hub environment."