system would provide full payment engine processes including validation, repair, funds checking, AML filtering and postings into the general ledger. RBS stuck to the vanilla package from Clear2Pay as much as possible, he added. Overall, Kam said the implementation was ‘complex’. One of the biggest challenges had been integrating the hub with downstream legacy systems from other institutions. The hub has been connected with all of the 18 RBS International Banking back offices in EMEA. He also mentioned that RBS was moving from an in-country operating model to a central operating model, something which required a shift in culture.
RBS intended to use OPF as the first step towards a global payments hub, said Kam. It had firmed-up plans to use it to process its G3 payments (the low value, near real-time settlement system in Singapore, similar to UK Faster Payments). ‘Over time, we will continue to migrate other payment flows into that global payment hub, so that we have a truly global payment engine,’ he concluded. The hope was that all of RBS’s payment flows, low value, urgent/non-urgent, euro/non-euro, would eventually be incorporated, but he acknowledged that ‘this does not happen overnight’. He provisioned a window of three to five years for the global roll-out of OPF. ‘I think that is a realistic target for trying to implement a truly global payment engine.’
BNY Mellon
Another notable client is BNY Mellon which selected OPF to support Enterprise Payments Hub (EPH), its planned single global hub for payment activity, ultimately intended to support all currencies, payment channels and geographic regions. It was felt that the bank had too many disparate components and needed to become ‘more nimble’, said Mike Bellacosa, managing director of treasury services business at BNY Mellon. Technology modernisation and harmonisation was driven by the bank’s treasury and cash management business unit, which was keen to increase the revenue from outside the home market of the US and to keep up with the international expansion of its customers and the demands it brings, he said. The bank initially considered building a system in-house prior to turning to outside parties, said Bellacosa, but with the selection of OPF it achieved ‘the right balance of having
Other recent projects
In the course of 2013/14, the vendor had been looking to tap into the spate of real-time payments projects around the globe as an opportunity for new business with local banks running batch systems. One country of focus is Chile which has yielded several new takers of OPF over the last few years. The vendor claims four of the top five largest banks in the country as takers, including Banco de Crédito e Inversiones (BCI), BancoEstado,
118
our own control of what we build, how we do it and what it looks like, and a vendor platform that supports ongoing industry change and issues standard releases and updates that allows us to stay current’. As for why the bank chose Clear2Pay, Bellacosa said a major selling point was that OPF offered ‘an opportunity to differentiate ourselves more as we develop our products and services’, while other evaluated platforms were less flexible and operated on a basis of ‘you get what you get’. The bank also liked the company and its accommodating attitude. By late 2012, the bank was ‘deep, deep into the project’, with software development under way and integration plans drawn up.
Commerzbank
Commerzbank signed in May 2013. It set about overhauling its payments infrastructure by implementing OPF, partly replacing its legacy system, which Thomas Egner, SVP at Commerzbank, said was ‘built up decades ago and has just about reached the end of its lifecycle’. The requirements definition phase had been completed by June 2013, with the first part of the system due to go live by the end of this year. Egner said the bank needed a new platform to comply with SEPA requirements. ‘We have international standards coming up. We do have infrastructure which was able to deal with the SEPA project and mass payments, but they are still legacy systems.’
The bank evaluated several local and international vendors
and ‘decided to not look for a short-term individual application, but a system with long-term strategic potential’, said Egner. ‘If you look at the payments business or the transactions business as a whole, the different parts are not separated any more. The idea of SEPA is that everything goes together, so the plan is to have one partner in the game.’ Clear2Pay ‘met our requirements from a technical and
strategic perspective’, commented Egner. He also added that the bank opted for a packaged solution as opposed to an in-house build, because ‘the make principle has become more and more complex’. He felt the platform would provide Commerzbank with an infrastructure which would benefit it for the foreseeable future. ‘Our engine and our payments products and services will be future-proof over the next few years,’ he said. ‘We will continue to maintain our very good position in the market.’
Banco de Chile (BCH) and Santander Chile. BCI and BCH were the first two takers in Chile and had initially engaged in a joint selection process in 2009, as part of a plan to share a common platform. 35 vendors were invited to provide information, a list which was then whittled down to eight which were sent an RFP. This was again cut down to three for a proof of concept phase. At this stage, however, the banks decided that they would split the selection process and go it alone. Marcelo Barios, VP Latin America at Clear2Pay, explained that this was due to reluctance from the banks to
Payment Systems & Suppliers Report |
www.ibsintelligence.com
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142 |
Page 143 |
Page 144 |
Page 145 |
Page 146 |
Page 147 |
Page 148 |
Page 149 |
Page 150 |
Page 151 |
Page 152 |
Page 153 |
Page 154 |
Page 155 |
Page 156 |
Page 157 |
Page 158 |
Page 159 |
Page 160 |
Page 161 |
Page 162 |
Page 163 |
Page 164 |
Page 165 |
Page 166 |
Page 167 |
Page 168 |
Page 169 |
Page 170 |
Page 171 |
Page 172 |
Page 173 |
Page 174 |
Page 175 |
Page 176 |
Page 177 |
Page 178 |
Page 179 |
Page 180 |
Page 181 |
Page 182 |
Page 183 |
Page 184 |
Page 185 |
Page 186 |
Page 187 |
Page 188 |
Page 189 |
Page 190 |
Page 191 |
Page 192 |
Page 193 |
Page 194 |
Page 195 |
Page 196 |
Page 197 |
Page 198 |
Page 199 |
Page 200 |
Page 201 |
Page 202 |
Page 203 |
Page 204 |
Page 205 |
Page 206 |
Page 207 |
Page 208 |
Page 209 |
Page 210 |
Page 211 |
Page 212 |
Page 213 |
Page 214 |
Page 215 |
Page 216 |
Page 217 |
Page 218 |
Page 219 |
Page 220 |
Page 221 |
Page 222 |
Page 223 |
Page 224 |
Page 225 |
Page 226 |
Page 227 |
Page 228 |
Page 229 |
Page 230 |
Page 231 |
Page 232 |
Page 233 |
Page 234 |
Page 235 |
Page 236 |
Page 237 |
Page 238 |
Page 239 |
Page 240 |
Page 241 |
Page 242 |
Page 243 |
Page 244 |
Page 245 |
Page 246 |
Page 247 |
Page 248 |
Page 249 |
Page 250 |
Page 251 |
Page 252 |
Page 253 |
Page 254 |
Page 255 |
Page 256 |
Page 257 |
Page 258 |
Page 259 |
Page 260 |
Page 261 |
Page 262 |
Page 263 |
Page 264 |
Page 265 |
Page 266 |
Page 267 |
Page 268 |
Page 269 |
Page 270 |
Page 271 |
Page 272 |
Page 273 |
Page 274 |
Page 275 |
Page 276 |
Page 277 |
Page 278 |
Page 279 |
Page 280 |
Page 281 |
Page 282 |
Page 283 |
Page 284 |
Page 285 |
Page 286 |
Page 287 |
Page 288 |
Page 289 |
Page 290 |
Page 291 |
Page 292 |
Page 293
