Academic journal article ABA Banking Journal

Payment Engine Offers Single View of Customer Activity

Academic journal article ABA Banking Journal

Payment Engine Offers Single View of Customer Activity

Article excerpt

Sterling Commerce recently announced a payment solution that integrates multiple, siloed payment channels into a single hub--connecting ACH activity, for instance with EDI. The objective? To offer one took into a given corporate customers payment stream for reporting, alerting and exception management purposes. Called Sterling Total Payments, the solution allows a bank to simplify operations and embrace something that consultants have referred to as a unified payments approach to execution and management.

"Banks want to offer unified payments and be in the position to rationalize the payments they make on behalf of corporate clients, but it can be difficult to provide those services with a series of separate payment engines scattered throughout their footprint," says Jim Cahagan, global industry executive for Financial Services.

"Banks are under pressure to improve the contribution of payment-related services but face reduced margins and complex client requirements," says Susan Feinberg, research director for wholesale banking at Tower Group. But rip and replace isn't typically an option for banks trying to create efficiencies. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.