New Capabilities Enable Banks and Financial Institutions to Incorporate Award-Winning Payment and Reporting Functionality into Existing Applications
Bottomline Technologies (NASDAQ: EPAY), a leading provider of collaborative payment and invoice automation solutions, today at Sibos Boston 2007 announced expanded support for Service Oriented Architecture (SOA) within its WebSeries® Global Cash Management platform introducing new capabilities that allow banks and financial institutions to incorporate Bottomline’s payment and reporting functionality into existing applications.
Architected to capitalize on the benefits of SOA, Bottomline’s WebSeries Global Cash Management platform provides banks and financial institutions the flexibility and scalability required to address the complex cash management challenges of their largest corporate clients. Through expanded support for SOA announced today, banks and financial institutions can securely embed Bottomline’s application components and business logic into other applications. By incorporating WebSeries’ payment screens, transaction workflow and host integration services seamlessly into applications for corporate, small business and retail banking, and trust and securities services, users can establish new application deployment strategies for cash management products and services.
“Banks continue to place an emphasis on growth and cost reduction as requirements for any technology investment. Our research shows that SOA increases flexibility and speed to market and provides opportunities for financial institutions to provide additional services," said Maggie Scarborough, Research Manager, Corporate Banking for Financial Insights. “By adopting a more strategic approach to SOA, banks can actively leverage solution functionality across lines of business and market segments, strengthening their ability to quickly and cost-effectively react to market challenges.”
Offering clients a single Web-based platform for originating and managing payments activity worldwide, Bottomline’s modular global cash management solution leverages straight-through processing (STP) capabilities, including multi-currency, multi-language data integration, international payment standards, BIC and IBAN validation, and support for double-byte characters for clearing into Asia.
“For banks and financial institutions seeking to capitalize on new revenue opportunities and strengthen relationships with corporate clients, SOA provides the opportunity to maximize their resources and extend their IT investments,” said Eric Campbell, Chief Technology Officer of Bottomline Technologies. “Our global cash management platform was designed with SOA in mind, and through these expanded capabilities, our customers can more readily serve corporate clients and increase their market position by incorporating our payment and reporting functionality into other applications.”
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