Source: LogicaCMG
LogicaCMG launched today the LogicaCMG Payments Architecture (LPA). This strategic approach to reengineering payments operations enables banks around the world to transform their payments businesses delivering high quality services to customers at a significantly lower operational cost.
Across the whole of the payments industry, there is a growing recognition that fundamental transformational changes are needed that place new and different requirements on models of operation and technical architecture. Marginal enhancement to existing operations and supporting systems has resulted in today's system complexity and an inability to meet the challenge of providing a flexible, scalable payments business.
With more than 30 years experience of implementing innovative payments infrastructures and commercial payments processes, LogicaCMG is uniquely equipped to support organisations through the analysis, design and implementation of transformational change.
The LPA applies to all payments systems and processes, high and low value, simple and complex, and covers all participants in the payments value chain. It provides flexibility, high levels of automation and rapid differentiation in payments services.
Under the LPA banner, LogicaCMG provides solutions and market leading services to central banks, clearing houses and global, regional and domestic banks. For central banks there is the award-winning real time growth settlement (RTGS) and Government securities settlement systems. For commercial banks there is innovation in liquidity management, electronic invoicing, payment pricing and cash reporting. And in financial messaging, LPA includes solutions for reporting, corporate connectivity and message bulking.
The solutions and services that LogicaCMG has recommended for many years are available as demonstrable solutions with live customers. To this we add our global experience in implementation of major change programmes to deliver the safe and progressive transformation of existing payments infrastructures.
Nick Caplan, international managing director of LogicaCMG's global financial services business, said: "LPA brings together our market knowledge and implementation experience in a model for the transformation of payment businesses. It truly builds on LogicaCMG's understanding of the payments industry to deliver a payments infrastructure that can meet the demands of customers and regulators now and into the future."