UK-based financial technology firm sensima is launching Payhub, a new solution for consolidating disparate payment operations at individual banks, at Finexpo 2003 – City Technology Strategies in London on January 29th 2003: <A href="http://www.finexpo.com" >www.finexpo.com</a>
Payhub is designed to consolidate all the payments functionality residing in many individual and often poorly integrated business system applications.
By combining payments functionality with middleware and workflow-based integration systems, business processes contained within individual applications are integrated with, or migrated to Payhub.
The system manages the transition between old and new payment scheme systems such as Bacs/NewBacs, Swift FIN and SwiftNet and provides increased visability for payments status, and also traces and repairs errors.
In addition, PayHub provides easy access to customer and payment scheme data and a central repository stores business rules, message formats, security, routing, auditing and scheduling.
Mark Allcock, CEO of sensima, says: "Payhub will ensure that the payments operation is closely aligned with a bank's business aspirations and help it to become a strategic competitive weapon."
Sensima's banking customers include Credit Suisse, ING, JP Morgan Chase, LloydsTSB and UBS.