Concise Group Limited today announced that release three of its Payments Practice component solutions CorpPay and PayAssure, are now available for customer deployment.
Concise CorpPay enables corporate or institutional customers of a financial services supplier (Bank, ACH, Insurance Company etc.) to submit payment files for settlement. Specific functionality includes: management of file submissions, payment level maintenance, customer administration, authorisation management, service provider administration, audit trail, monitor & control.
Concise PayAssure is a generic mid-tier payment processing platform that promotes component re-use and is based upon best practice service oriented architecture principles. Specific functionality includes: payment validation, reference data validation, payment routing, payment enrichment, limit checking, blocked party check, warehousing, payment release, Service Provider administration, audit trail, monitor & control.
These two component solutions have been developed to meet the requirements and demands of the payments industry, taking into account the different pressures such as volume growth, industry initiatives, customer demands, technology developments, political directives and regulatory requirements.
"Our two component solutions will add value to our customers by delivering pre-built components based upon industry standards and formats, ensuring improved time to market, re-use of existing payments processing infrastructure and reducing implementation risk. This approach enables our customers to focus on building functionality that is specific to their customer propositions" said John Cotterell, Managing Director of the Concise Group. "This release of the Payments Practice component solutions will enable our customers to offer integrated payment services based upon SWIFT (MT101, MT102, MT103, MT104), US payments (ACH Credit and FedWire) and UK (BACS Credit and CHAPS)."