20 August 2017
visit www.avoka.com

Co-op taps Clear2Pay for payments overhaul

20 October 2010  |  10357 views  |  0 handshake

Co-operative Financial Services has selected technology from Clear2Pay as the basis for a revamped, single unified payments hub.

The Co-op is de-coupling its core banking platform from the various payment schemes to which it connects through a core hub.

It will use Clear2Pay's Open Payment Framework to provide a clear separation between channels and the core banking systems. The technology will allow a variety of channels to deliver payment instructions in any type and format and for the core banking system to receive and manage those in a single ISO 20022 format.

Simon Cox, head, business systems strategy, Co-operative Financial Services, says: "For the Co-operative Bank being customer centric means, directing every investment and effort towards the benefit of the customer. Clear2Pay's Open Payment Framework enables us to tackle this from IT up into the business side; having an agile, fast and cost effective platform means delivering a much better and richer service and experience to our customers."

Mark Hartley, MD, UK and Nordics, Clear2Pay, adds: "The Co-operative Bank's requirement is a unique fit with our vision and mission of delivering a Payments Services Hub processing all payment types including ATM and POS with BACS, UK Faster Payments, and cheques."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

BNP Paribas deploys Clear2Pay framework for Asian payments hub

BNP Paribas deploys Clear2Pay framework for Asian payments hub

24 August 2010  |  11330 views  |  0 comments | 1 tweets
Co-op to introduce contactless payments

Co-op to introduce contactless payments

14 July 2010  |  9900 views  |  0 comments
Co-op and Nationwide outshine rivals online - research

Co-op and Nationwide outshine rivals online - research

25 February 2010  |  7750 views  |  0 comments
Clear2Pay raises EUR50m

Clear2Pay raises EUR50m

07 December 2009  |  6733 views  |  0 comments
Portuguese interbank processor selects Clear2Pay for outsourced payments

Portuguese interbank processor selects Clear2Pay for outsourced payments

16 September 2009  |  4922 views  |  0 comments
Co-op contracts with Finacle for core banking overhaul

Co-op contracts with Finacle for core banking overhaul

27 April 2009  |  10306 views  |  0 comments
Faster Payments stimulus as Co-op deploys Norkom anti-fraud system

Faster Payments stimulus as Co-op deploys Norkom anti-fraud system

09 March 2009  |  8513 views  |  0 comments
CBA consolidates payments processing with Clear2Pay

CBA consolidates payments processing with Clear2Pay

03 March 2009  |  6752 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.worldpaymentsreport.comvisit www.niceactimize.comvisit www.abe-eba.eu

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
9228 views comments | 23 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
7939 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
7415 views comments | 10 tweets | 7 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
6808 views 0 | 1 tweets | 1 linkedin
hands typing furiouslyWhy Blockchain Might Not Be The Future For...
6544 views 1 | 5 tweets | 3 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job