Clear2Pay, the international technology provider of next generation payment solutions for financial institutions, announces today that it has entered into a collaborative partnership with Systar (Euronext Paris ISIN: FR0000052854-SAR), the leading Business Activity Monitoring (BAM) solution provider.
The partnership will augment Clear2Pay's Open Payment Framework (OPF) solutions with Systar's BAM, customised to meet the unique needs of the payments market.
The partnership will enable Clear2Pay to offer its customers Systar's leading BAM solution seamlessly integrated into the Clear2Pay Open Payment Framework, a library of component building blocks built entirely on a Service Oriented Architecture (SOA). Systar and Clear2Pay have developed pre-defined dashboards that will allow Clear2Pay's customers to monitor, in real time, the end-to-end payment process in order to determine exceptional events that might impact operations. In addition to providing a best-of-breed payments BAM, additional regional products will offer specialist BAM solutions for SEPA, check imaging, payment convergence, remittance. For example, one solution monitors payment flows to ensure that critical payment deadlines are met.
John Lopynski, Vice President of Business Development for Systar comments: "Systar is excited about the relationship with Clear2Pay and how the Systar BAM offering combined with Clear2Pay's award-winning payment solutions will create value for customers. The partnership will provide customers with real-time information from which they can make informed decisions. As an example, customers will be able to know which payments are at risk and which customers might be impacted in advance of the problems occurring. This will result in increased customer satisfaction due to a higher straight through processing rate and decreased costs due to penalty avoidance and other charges. The Clear2Pay SOA approach makes the integration straightforward and creates a more flexible joint offering."
Mark Hartley, Vice President of Strategy and Marketing, Clear2Pay, states: "Systar is clearly the preeminent BAM solution provider on the market. Our combined solutions, uniquely architected to meet payments business' needs, offer our customers better real-time visibility on their payeir payments, thus facilitating improved preemptive decision making. Going beyond payment diagnostics and alerts, the Open Payment Framework, augmented by Systar's BAM, allows business people to fully visualize their payments and make informed choices and assessments on the current and future situation."