Bottomline Technologies (NASDAQ: EPAY), a leading provider of payments and invoice automation software and services, today announced at Sibos 2006 that it has enhanced the functionality of its WebSeries® Enterprise Payments Platform with expanded Straight-Through Processing (STP) capabilities to support seamless, secure and more efficient international bank transactions.
As banks and financial institutions expand their businesses to support their multi-national clients, the complexities of the international payments environment can challenge payment efficiency and customer service levels. Based on patented technology, Bottomline’s WebSeries Enterprise Payments Platform 6.5 allows banks and financial institutions to deploy value-added, Web-based cash management products and services to their corporate clients. The new functionality and STP capabilities announced today, including support for multi-lingual and double-byte characters, enable users of Bottomline’s platform to more efficiently originate and process payments in new markets without the need to maintain multiple, geographically-dispersed systems.
"Accommodating the processes of multi-national corporations that clear payments in different countries around the world can be a difficult task for banks, particularly if they rely on various point solutions to address the requirements of specific countries or regions," said Maggie Scarborough, Research Manager, Financial Insights. "Taking a more centralized approach to international payments, one in which a single solution is capable of supporting global payment requirements, could provide a key point of differentiation for banks in the marketplace."
Among the enhancements to WebSeries Enterprise Payments Platform 6.5 are international payment capabilities that allow Bottomline customers to gain new levels of efficiency and value through:
- A multi-lingual user interface for language determination at the user ID level and the ability for translation into new languages by third-party service providers;
- Complete support for Asian clearing systems that function with multi-byte character sets;
- Full online, cross-channel payment repair and validation;
- Table-driven Straight-Through Processing rules for international payment clearing across an open-ended set of payment methods; and
- Web services connectivity for FX trading systems.
"Through Bottomline’s market expertise and solution set, we have been able to help banks and financial institutions successfully overcome the challenges created by the evolving global payments environment," said Eric Campbell, Chief Technology Officer of Bottomline Technologies. "With the expanded international payment capabilities of our WebSeries Enterprise Payments Platform, Bottomline’s customers can better maximize their revenue potential and deliver even greater service and value to their corporate clients."