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HP reports Standard Chartered Bank payments integration

26 October 2010  |  4525 views  |  0 Source: HP

HP (NYSE:HPQ) today announced the successful integration of global financial messaging and transfer solutions for simplified, secure payments processing at Standard Chartered Bank, a leading London-based international financial institution.

HP and Software Integrators, a London-based company specializing in the development of financial message and payment solutions, have partnered to provide clients with a comprehensive payments hub.

The payments hub offers benefits to global financial institutions of all sizes:

* Reduced risk through real-time integration and high-availability software and hardware
* Separate systems from changing business and technology requirements
* Ability to bridge disparate and incompatible legacy systems and networks

"With a global payment business to support, we needed a robust and flexible operating model to help drive efficiencies and provide us with a platform for growth," said Sham Arora, head of Technology Solution Delivery, Core Banking, Cash Management, Clearing and Messaging at Standard Chartered Bank, which has its strongest markets in Asia, Africa and the Middle East. "We chose Software Integrators' solution for its proven track record in this area combined with HP's strong Integrity NonStop platform."

The ability to efficiently send and receive financial messages is a vital part of daily bank operations. Banks are continuously challenged to provide higher service levels in a highly competitive and regulated environment. As a result, the consolidation of the payments infrastructure and streamlining of payments operations are becoming increasingly critical.

"Financial institutions are under constant pressure caused by compliance mandates, new regulations, mergers and global economic conditions," said Andrew Orent, worldwide director of Banking and Capital Markets for the Financial Services Industry organization at HP. "HP helps reduce that pressure by automating complex payment operations so clients can focus their attention on competing on a global scale."

The payments hub from HP and Software Integrators also uses STAR Message Processing software and the COPE Integrated Payments System, both built on HP Integrity NonStop servers. STAR and COPE serve as the central control point for a globally integrated payments database, real-time monitoring and reporting, and payment processing. HP NonStop software and HP Services round out the payments hub solution.

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