Dovetail, the provider of best-in-class payments and liquidity management solutions, today announces the first implementation of the Dovetail Payment Solution for US ACH to support full NACHA processing of originations and receipts.
A large US bank has signed an agreement for Dovetail to replace its current legacy vendor solution. The Solution will be delivered in 2017 for the bank to start a staged migration of its payment flows.
The Solution is built on the Dovetail Transaction Architecture which supports real-time item level processing of bulk payments as well as full 24x7 real-time payments. The always online nature of the Solution will enable the bank to provide enhanced real-time information and control to its customers, with the opportunity to improve the real time experience further as The Clearing House and others begin operation of real-time payments schemes.
Martin Coen, CEO of Dovetail, commenting on the announcement said; “The experience of upgrading systems to support same day ACH in the US market has provided a key lesson in how complex and expensive it can be to enhance legacy systems that were never designed to operate in a digital world. This, together with the advent of real-time payment schemes, has changed the landscape. We are seeing increasing market momentum amongst US banks in upgrading ACH infrastructure as part of their digital transformation strategy in order to compete in an online world. With our experience of real-time and ACH processing globally, Dovetail is ideally positioned to support these banks in their transformation to a digital infrastructure.”