Source: Bottomline Technologies
Bottomline Technologies (NASDAQ: EPAY), a leading provider of payments and invoice automation software and services,announced the availability of an enhanced WebSeries Enterprise Payments Platform, enabling banks and financial institutions across the globe to consolidate payments and payment-related reporting onto a single technology platform.
Competitive pressure, rising costs and the growing complexities of processing global payments have challenged existing payments infrastructure. Offering seamless integration with back-office legacy systems, the WebSeries Enterprise Payments Platform's powerful combination of sophisticated workflow capabilities for Straight-Through Processing (STP) and multi-bank, multi-currency data integration allow organizations to leverage a single, Web-based interface for the origination and processing of all types of inbound and outbound domestic and international payments.
"Banks and financial institutions have a dual challenge-they must differentiate services by adding value to customers' critical payments processes and they must become more efficient and adaptive during a time of unprecedented change in the payments environment," said Maggie Scarborough, Research Manager, Financial Insights. "The notion of a comprehensive payments engine, one that provides a single point of control, visibility to payments information and workflow leveraged across many types of payments, can deliver on both challenges and help financial institutions establish market leadership."
Based on patented technology and complementing existing systems, the Enterprise Payments Platform's standards-based, modular software architecture enables banks and financial institutions to configure highly specialized solution sets for specific financial functions. Leveraging modules for ACH, Wires, International Payments, Check Management, Information Reporting, Unattended Payment and File Transmission, and Distributed Document Printing, organizations can quickly and easily deploy solutions for:
Enterprise Cash Management: Utilizing SWIFTNet or popular bank wholesale delivery channels for connectivity, WebSeries Enterprise Cash Management provides a single connection point for all back-office systems needing to originate payments or access multi-bank reporting. Connectivity and support for a full range of US domestic and international messaging standards, including comprehensive validation rules, enables efficient STP for initiating global payments and reporting.
Wholesale Banking: A bank-branded solution, WebSeries Wholesale Banking allows banks to bring to market best-of-breed cash management services to commercial clients and compete more effectively for new customers.
Retail Branch Payments: Automating core branch payment origination processes, WebSeries Retail Branch Payments centralizes control and streamlines the printing and disbursement of multi-currency checks, drafts and wires, while enhancing security and reducing the risk of fraud.
"With competitive pressure being applied globally, nationally and at the regional level, relying on multiple front- and middle-office payments systems is no longer a practical strategy for financial institutions," said Eric Campbell, Chief Technology Officer, Bottomline Technologies. "By combining the breadth of our payments expertise with highly configurable solutions, we are able to satisfy both our bank and non-bank customers with a consolidated platform for global payments."