LogicaCMG today announces that its LogicaCMG All Payments Solution (LAPS) High Volume software solution can process up to 480 million payments within 24 hours.
With the proven ability to handle multiple national payment schemes already and Single Euro Payments Area (SEPA) payments scheme compliance, LAPS High Volume is ready to meet the challenge of SEPA for the largest to smallest banks and credit institutions.
LAPS High Volume needed only eight hours to process 160 million transactions at a sustained rate of 5,555 transactions per second – which equates to 20 million payments per hour or 480 million in 24 hours.
Volume tests were carried out at IBM centres in Prague and Montpellier where LAPS High Volume achieved extremely high performance throughput. The benchmark system was based on a client deployment of the software, configured to support the processing requirements of a specific payments territory. The system was set up to process numerous files of payments transactions and the tests were repeated with systematic increases in the volumes of data. Hardware utilisation was monitored at each stage. The results exceeded the initial ambitious targets, and the hardware monitoring showed linear scalability.
With proven scalability and support for very high volumes of payments, most global, international and domestic banks can consolidate their mass payments processing into a single infrastructure. This is a likely consequence of the longer term vision of SEPA. Such a solution is key to a long term SEPA strategy enabling cost-savings for the banks and reducing the current complexity of maintaining multiple systems. LAPS High Volume will enable banks to meet the SEPA implementation deadline of 1st January 2008 secure in the knowledge that the system can scale to meet their longer term needs. The solution will process the new SEPA instruments and therefore can support banks in their compliance, consolidation and migration scenarios, ensuring that they can support these instruments from the beginning of 2008 confident in the long term viability of the platform.
LAPS High Volume enables mass payments processing in several financial institutions across a range of European countries and has been enhanced to support SEPA payments. Its key features are rich functionality, flexibility, reduced lead time to market and the ability to process high-volumes of payments. LAPS High Volume is part of the LAPS product suite, which includes solutions for High Volume and High Value payments and associated functionality including business activity monitoring, regulatory filtering and financial messaging.
Tomáš Honzák, senior business consultant at LogicaCMG, said: "LAPS High Volume was initially developed in 2001, as a localised solution for the international branches of multi-national corporations. The solution has proven to be highly performing and scaleable. It is well capable of meeting the future demands of the mass payments market for any financial institution with a global reach. LAPS High volume has a unique combination of key benefits which include flexibility, configurability, scalability, high volume processing and short deployment timeframes."
Sarah Loveday, managing director of LogicaCMG's global finance products unit, said: "As a leading global provider of payments solutions LogicaCMG is delighted to offer LAPS High Volume as the mass payments component of our LAPS suite. It complements the other solutions in our end to end payments offering both functionally and technically and, in conjunction with our LAPS High Care component, provides a bank with what can truly be regarded as an 'All Payments Solution'."