Eiger Systems, Europe's leading developer of validation and payment solutions for automated banking and e-commerce, announces today the release of version 1.1 of EigerPAY Gateway, the company’s BACS approved software solution for BACSTEL-IP.
EigerPAY Gateway manages the entire process of creating, signing, authorising, transmitting and verifying BACSTEL-IP payment submissions. The new version builds upon the existing functionality of EigerPAY Gateway in a number of areas that enhance automation and security, including support for Hardware Security Modules (HSMs). These new features, coupled with the existing support for biometric finger-scan devices, enables EigerPAY Gateway version 1.1 to be securely configured to process payment files completely automatically or with a combination of automation and user intervention as required.
One of the key features of BACSTEL-IP is native support for automation and unattended operation by using industry standard PKI technology and HSMs, not previously available with BACSTEL. EigerPAY Gateway was the first BACSTEL-IP solution to receive BACS approval for HSM and Bureau operation.
In addition to the HSM capabilities of the product, version 1.1 has many further features to support automated processing. Automated tasks can be monitored and problems flagged by e-mail, reports can be retrieved and distributed automatically to users according to previously defined rules and automated processing can be combined with manual processing to provide greater flexibility. EigerPAY Gateway's ability to support a combination of multiple HSMs and Smartcards not only meets the requirements of multi-banked users but accommodates the business continuity requirements of all BACSTEL-IP submitters.
"The ability to use HSMs is a major step forward for high-end users of BACSTEL-IP," says Callum Johnston, Managing Director of Eiger Systems. "The automated payment processing offered by BACSTEL-IP, through the use of HSMs, is very attractive to organisations with high volumes and complex submission policies."
"Automated, unattended processing can achieve significant improvements in risk management and cost control for these types of Originators. However, such systems create an even greater need for effective security procedures to control and protect the configuration of the HSM, and the biometric functionality within EigerPAY Gateway provides this. BACS estimates that up to 40% of BACSTEL direct submitters have employed automated processes in the past. These users will find version 1.1 of EigerPAY Gateway a very appealing option."
EigerPAY Gateway is the ideal BACSTEL-IP solution for large organisations across industry sectors including national and local government, financial services, telecoms, utilities and charities.