New Capabilities Accelerate Straight-Through Processing and Enable Banks to Help Corporate Clients Address Ongoing Regulatory Compliance
Bottomline Technologies (NASDAQ: EPAY), a leading provider of collaborative payment and invoice automation solutions, today at Sibos Boston 2007 announced enhanced functionality for the WebSeries Global Cash Management platform, introducing advanced capabilities for payments workflow that enable banks and financial institutions to support more complex transaction approval processes.
To help accommodate high-volume domestic and international payments and transaction reporting, banks rely on Bottomline’s award-winning platform to provide the flexibility and scalability required to address the cash management challenges of corporate clients of all sizes. Offering clients a single Web-based platform for originating and managing payments activity worldwide, this modular 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.
With these expanded capabilities for payments processing announced today, banks and financial institutions can help clients more readily respond to international regulatory requirements, which impose strict requirements around payment approval workflow and transaction reporting. By incorporating these new capabilities into their global cash management products and services, banks can bring to market solutions that complement existing payment approval processes, while offering the flexibility to accommodate future changes to organizational procedures and comply with evolving regulatory mandates.
These enhancements to the WebSeries Global Cash Management platform allow banks and financial institutions to deliver greater value through:
• The introduction of panel approval schemes, which provide corporate clients the ability to establish approval hierarchies for payments exceeding a pre-determined amount;
• Advanced capabilities for ACH return and notification of change enabling corporate end users to quickly and easily update the status of a transaction; and
• The use of Ajax-supported user interfaces, which allow greater levels of interactivity and usability by automatically updating transaction information.
“As more corporations actively strive for faster, more efficient and cost-effective transactions, banks and financial institutions need to be aggressive in bringing to market flexible and scalable global cash management products and services that can ensure high STP rates,” said Eric Campbell, Chief Technology Officer of Bottomline Technologies. “Through these enhancements to our global cash management platform, our bank and financial institution customers can successfully address the evolving demands of the marketplace as well as the individual payment processing and compliance requirements of their largest corporate clients.”
Editorial Note: Bottomline will be exhibiting in booth B39 at Sibos Boston 2007, October 1-5, 2007, at the Boston Convention and Exhibition Center. To arrange an on-site meeting, please contact Billy Balfour at 603-501-5219.
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