Payments processing specialist, Aqua Global, has gained a further win for its e2gen Integrated Payments Processing System alongside the widely installed Fiserv International Comprehensive Banking System (ICBS). This is within the Marfin Popular Bank Group, which has signed a group-wide contract for e2gen.
The first implementation will be within Marfin's Laiki Bank (UK) branch, to be followed by Laiki Bank (Australia) and with the expectation that other country operations will follow.
The initial scope of the UK project is to integrate inward SWIFT payment processing with the ICBS general and retail ledger, provide manual input of client instructions at the retail branches into ICBS and creating the outward SWIFT instructions with a view to providing high STP rates for payment processing. e2gen will also integrate the bank's electronic banking system with ICBS and automate the production of any outward payment instructions that are required. The e2gen solution incorporates automatic accounting in ICBS, integrated flexible charging, and bi-directional, real-time sanctions monitoring.
Additional elements of the e2gen processing that will be deployed include integration with the bank's treasury system, Sungard's Quantum, linking into the Quantum confirmation message flow for automatic treasury confirmation matching and payment message release. Additionally, e2gen will post client transactions executed in Quantum into ICBS. Initial focus will be on SWIFT payment processing with a view to be ready for SEPA processing when this becomes necessary for the bank.
Chris Burnet, UK account manager at Aqua Global, says: "The selection of Intercept e2gen for Laiki Bank (UK) was relatively fast once the bank understood the flexibility and capabilities of the system. Not only will it provide a powerful and comprehensive message management and handling control centre, Intercept e2gen also gives the bank Transaction Cycle Processing at an easily affordable cost."
Christos Gabrielides, support services and risk management manager at Laiki Bank (UK) says: "We selected e2gen after an in-depth study of the available solutions on the market. One of the many things that impressed us about the Aqua Global solution was the flexibility of the rules-based processing software compared to other solutions we reviewed and the format-independent processing model. The solution caters to our existing SWIFT requirements and is ready for the newer payment solutions coming to market such as SEPA and Faster Payments."
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