EXPERTUS, a global leader in innovative payments and treasury solutions today announced that it has extended blockchain technology (also referred to as distributed ledger) to its Global Payment Solution.
Expertus will enable financial institutions using the solution to benefit from Ripple’s distributed financial technology to offer their clients real-time payment execution, more transparency into travelling fees and lower costs. The solution also enhances liquidity management and paves the way for global payment netting and settlement.
Based on XML ISO 20022 data model, Expertus Global Payment Solution allows end-to-end processing of all payment types and formats as well as the notification of end-users involved in the payment chain. With a twenty four hours a day, seven days a week availability, the solution is ready to handle immediate payments initiatives around the world. Designed to support exponential volume growth and with its intelligent rules and straight forward configuration, the solution generates the appropriate payment in the format expected by the desired channel (SEPA, BACS, CHAPS, FASTER PAYMENTS, LVTS, ACSS, NACHA, FED, CHIPS, and others).
'' Distributed Ledger technology is transforming the financial services sector similar to how the Internet has changed media and entertainment,'' says Jacques Leblanc, president of Expertus. ''Blockchain will definitely reduce the intermediaries involved in the payment chain and thus lower cost.Time-to-market is key for banks to provide adaptive solutions to their clients in combination with the growing adoption of immediate payments worldwide.This is an opportunity for banks to reinvent the way they provide services to their clients.''
Several banks have already established partnerships with Expertus for the adoption of blockchain and distributed financial technology including Ripple. They are now in a position to extend the technology to their corporate clients to fully support the complete lifecycle of a payment in real time.
Expertus will be showcasing the new release of its Global Payment Solution using blockchain at the PAYMENTS2016 in Phoenix, EBAday in Milan, Italy and Panorama in Calgary, Canada.