Neptune Software and Petra Financial Partnership delivers clear cost benefits through STP automation

London - 28 July 2008

Petra Financial, a leading provider of payments data automation software and Neptune Software, a top 10 international banking and financial services solutions provider, today announce their partnership. The agreement enables Neptune to embed Petra Financial’s Vortex solution into their versatile new Rubikon banking solution, and for both parties to leverage their sales and delivery networks, by extending each others reach.

Rubikon’s SOA Java-based architecture will be employed to seamlessly integrate Vortex Software as a Service, which uses CB.Net reference data to deliver IBAN/BBAN/BIC validation functionality through Vortex. By offering an integrated solution, Neptune and Petra Financial are innovating in the payments processing arena by assisting banks and financial institutions to achieve significant increases in STP rates and dramatically reduce the costs of payment handling errors. Banks face great challenges in the next year converting large numbers of accounts, direct debits and payments data to the IBAN format to comply with SEPA regulation.

John Burton, Marketing Director of Petra Financial says, “We are delighted to have concluded these agreements with Neptune that will allow both of us to focus directly on our core businesses whilst bringing a significant benefit and value to our joint customers. The synergies are excellent as both our combined solutions deliver an innovative and flexible compelling proposition that achieves real cost savings within weeks of implementation.”

Alan Goodrich, Commercial Director of Neptune Software says, “Teaming up with Petra Financial is very exciting for us and our customers. The flexibility of Rubikon’s architecture allows us to be extremely agile in bringing new functionality rapidly to the market to meet the needs of our customers and increase their return on investment. In today’s rapidly evolving payments landscape, linking up with Petra Financial gives our customers exactly what they need cost effectively at a time when they need it most.”

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