‘quite a lot of code’, with this still ongoing. He claimed at this stage to have won three LAPS orders in the first quarter of 2011 but was unable to name any of them. One turned out to be Westpac New Zealand (see below). Logica later announced a deal from Banco Popular de Puerto Rico (BPPR), which signed around December 2010 as the first LAPS customer in Central America/Caribbean. Logica declined to comment on another deal which was thought to have been signed, with the bank for the US military, USAA. Logica claimed to have built LAPS High Volume itself. There
were one or two early projects in central Europe that seemed to contribute, then an early implementation at Deutsche Bank. At this time the system was called Bafir. Deutsche Bank had used this system in the Czech Republic (which is where the system seems to have its roots) for its local payment processing requirements. This was successfully implemented and when its Austrian branch engine needed upgrading the bank chose the same platform. In mid-2006, this became the basis of Deutsche Bank’s SEPA engine and is at the heart of LAPS High Volume. Logica was working on a single orchestration layer in front of the two engines, with Turner stating that this was mainly being contributed by the High Volume solution and with nothing coming from the Dovetail system. This promised a consistent user interface. There was in parallel a plan to port Fastwire to Unix. While the number of users had fallen to between 80 and 90, from a one-time high of more than 200, the solution remained the mainstay of some banks. The shift of Fastwire from VMS was to be part conversion and part rewrite. The system was positioned for complex, high volume users where messaging was distinct from the applications. It was also appropriate for countries and communities (such as some areas of securities) that did not solely use Swift or did not use it at all. For other users, there was SwiftAlliance, which was available from Logica on a reseller basis. It took Logica a long while to commit to the migration of Fastwire, but the company now believed that there was a class of user that required such a solution. As well as a straight replacement for the existing version, this ‘Fastwire Open’ solution was also aimed, where appropriate, at users of Bess for the ‘wire room’ part rather than for the payments part. Again, there were a number of large-scale Bess users, such as Bank of Tokyo Mitsubishi, which used it on a global basis. Going forward, the supplier planned to develop components to be shared by both Fastwire and Bess as well as by a low-end Microsoft-based offering, QPH, which originated in India and was then offered elsewhere. The first component was a standalone application for managing correspondent relationships. Fastwire Open was launched in 2008. The Bankers’
Association of Turkey, representing 48 banks in the country, went public with its use of a version of the hub in mid-2009. Fastwire Open was also being tested with a separate client at the same time, and benchmark figures were released claiming that the platform could process five million Swift FIN messages per day. For Bess, the strategy was to move customers off the
system. From Logica’s perspective, this would hopefully mean a migration to LAPS but there have been losses. An example of this was BMO Financial Group in Canada, which opted in early 2012 to replace Bess and a host of other in-house and third party systems with Dovetail’s Payment Services Hub. Logica also sought to offer ‘extended payments’ functionality, and to this end launched an internet banking e-invoice and document gateway, ZoomIT, with Belgian company, Isabel. Dexia and KBC piloted the solution. It provides
consumers and corporates with consolidated
financial information, including invoices, payments, contracts and payslips, within a single service. Logica claimed it was both SEPA and Swift-compliant, and could be interfaced to ERP and accounting systems. With regards to SEPA, in May 2007 Logica announced
two SEPA-related initiatives: first, it teamed up with the UK payment network provider, Voca (Vocalink, as it became), to offer a test facility. Second, it planned to offer an IBAN and BIC directory based on the offering of data specialist,
CB.Net. It is not clear whether either initiative produced tangible results. In 2011, Logica also launched a mandate manager for
corporates to support SEPA Direct Debits (SDDs). A year later it announced it was working with Rabobank to create a SEPA payments hub to support all incoming and outgoing SEPA transactions for the bank’s corporate clients. Logica would also convert payment instructions and bank account numbers to the European IBAN/BIC standard and provide mandate management services to support the implementation of the new European direct debit process. Towards the end of 2012, Citibank also selected Logica to support its mandate management service, with Sentenial believed to have been pipped at the shortlist stage to the deal. The bank already had a long-standing relationship with Logica and there was a feeling that it might be more able to mobilise resources than some others. Logica’s mandate management service was based on the LAPS High Volume platform and complemented Citi’s SDD offering.
CGI teamed up with Ripple in 2015 to offer distributed financial tech capabilities for payments. This new agreement will see Ripple’s distributed financial technology capabilities brought into CGI’s portfolio of payments solutions. CGI’s offering in this sector includes payments hubs, financial messaging, liquidity management and watch list filtering.
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