Simplex selects Dovetail for its comprehensive pay-as-you-go solution for SEPA and UK Faster Payments

London - 11 April 2007

Simplex Consulting Limited announced today that it had entered into an agreement to incorporate the Dovetail Payments System into Simplex’s Payment Administration Solution (PayS). The proposition will see the Dovetail Payments System incorporated into the Simplex Service Bureau to provide a comprehensive payments processing solution, including SEPA Credit Transfers and Direct Debits, UK Faster Payments and Liquidity Management Solutions. The service will be available on a pay-as-you-go (ASP) basis that provides a highly attractive and cost effective route to support current and emerging payments schemes.

Bill Peters, Chief Operating Officer at Simplex said “In adding Dovetail’s products to our bureau, we have selected a best of breed solution which further broadens our solutions into the key area of payment processing. We believe that the market is increasingly interested in the rapid deployment capability and sharply reduced up-front cost model which our bureau solutions provide. Organisations facing the challenges of implementing Faster Payments in the UK and SEPA more widely now have the opportunity, through the Simplex Bureau, for a paradigm shift in the way they source and support their back office applications.”

Martin Coen, Chief Executive Officer at Dovetail said “We are delighted to have been selected by Simplex. There is great potential for pay-as-you-go services, and Simplex’s bureau is a natural outlet for us, since they already provide outsourced payment messaging services for a number of leading financial institutions. The Dovetail Payments System delivers the multi-entity capability, scalability and ease of integration essential for bureau operations, together with the complete functionality required for SEPA Credit Transfer and Direct Debits, and for UK Faster Payments.”

PayS brings together best of breed payments processing applications from Dovetail with leading SWIFTNet connectivity and reconciliation solutions from Sterci SA to provide a holistic payments solution, enabling banks, non-bank financial institutions and corporates to utilise proven components, run as a managed service and offering unrivalled speed to market.

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