PostFinance implements SeeBeyond for payments integration project
27 January 2003 | 3624 views | 0
PostFinance, a major division of Swiss Post, has deployed the SeeBeyond Business Integration Suite for EDI and Swift-based processing of mass payment transactions and account statements for its 30,000 business partners.
The software is also being used to initiate electronic account statements for 200,000 e-banking users, and will ultimately replace all inter-application data flows.
PostFinance has over 30,000 contractual partners - including large global banks - for the processing of payment-transactions, and offers a range of financial services including savings, investments and cash management.
In selecting SeeBeyond, the firm was looking for a solution for high volume processing, capable of handling over 7 million payment instructions over 16 hours says Stephan Sutter, application architect middleware for PostFinance.
He says the new solution is future-proofed for volume growth and will enable the firm to respond to changes in the market as they occur, "something that we just didn't have the flexibility to achieve previously".
PostFinance has initially deployed the SeeBeyond platform to integrate and manage the disparate back office applications that guide payment processing and account statements for its large corporate and private client base.
"The system went live on the 21st of October (2002), and it has been stable since," adds Sutter.
He says this deployment is the beginning of a five to seven year implementation project covering all intra-enterprise data transformation, which will be carried out utilising the SeeBeyond product suite.