of liquidity management. The main interface was between CashPlus and Flexcube, which had already been interfaced to external systems. Due to the continuing migration to Flexcube across Ecobank’s network, there were ‘competing priorities’ within the bank, but ‘so far, so good’, said Ikomi. The deployment, branded by the bank as Ecobank OMNI, had been completed across 30 countries by October 2013. In the first half of 2013, Fundtech also added US-based multi-bank holding company, QCR Holdings, to its CashPlus user base. The system was taken on an ASP basis and would be integrated into the largely Fiserv solutions environment at QCR (which was a 50/50 mix of outsourced solutions and onsite deployments). The holding company has three full- service banks in its ownership, Quad City Bank & Trust, Cedar Rapids Bank & Trust and Rockford Bank & Trust, as well as a commercial leasing entity, M2 Lease Funds. The CashPlus enhancement, Smartnav, which enables corporate users to personalise their preferences, workflow and dashboards, was part of the project. The new platform would give QCR the opportunity long-term to consolidate and centralise its cash management business, allowing users to make any type of payment and access any type of data from anywhere in the application, stated the vendor. QCR was a long-standing client of Fiserv, including in the cash management space, but Fiserv’s offering was nearing its end of life and was not going to receive any further development work. Michael Wyffels, SVP and CTO at QCR, said another Fiserv solution was considered but rejected due to timing of the availability of this solution and QCR’s interest in delivering additional customer fraud controls outlined by the Federal Financial Institutions Examination Council (FFIEC). QCR put together a document that outlined both current and planned functions of its online banking platform, and this was sent to major industry players. Niche vendors were omitted from the selection as QCR’s preference was for a well-established, experienced supplier that ‘has a good grasp of QCR’s target client base – SMEs – and what this type of client wants’. Other requirements included the vendor’s financial stability, ‘strong customer service, technical aptitude and management discipline’. The system had to be rich in functionality (so that a number of legacy applications could be retired at QCR, said Wyffels), it had to be on a ‘regimented release’ schedule and easy to interface to other third party solutions, such as Fiserv’s Signature core processing system, Ironkey’s cloud security technology (also known as Marble Cloud), ACH front-end, analytics and monitoring solutions. It was also important that the vendor was open to customer recommendations and feedback and able to incorporate these into its development plans. At the same time, Wyffels stressed that QCR was not keen on vendors that were focused too much on bespoke developments. ‘We see suppliers that are trying to
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become everything to everybody, and the larger population ends up hurting because the vendor is too focused on one-off developments that don’t benefit the majority but draw down resources.’ In February 2017, Denali Federal Credit Union (Denali FCU)
announced the selection of D+H to utilize its Full Payments Suite of Solutions : ATM, Debit and Credit. In March 2017, D+H announced that it was working with
Corporate One Federal Credit Union to accelerate its ability to offer real-time payments to its members. To simulate connectivity to The Clearing House’s (TCH) real-time payments network, The Credit Union will utilize D+H’s cloud- based testing environment. In June 2017, D+H was combined with Misys to form
Finastra. The first announced sale post the combination was to USAmeriBank where the newly branded finastra payment hub was implemented on a hosted basis for US domestic and international wire transfers. The implementation was done in three months from signing. Another deal announced was with Rabobank which chose global payment services hub from Finastra to centralize cross-border payments. In October 2017, Lloyds Bank announced the implementation of real-time payments platform on Global PAYPlus. In December 2017, US based PNC, an existing user of Global PAYplus (now Fusion Payments) for wire payment processing and has expanded its service to include real-time payments, went live on RTP, The Clearing House’s new US real- time payments system. In February 2018, Absa Bank Limited went live with
Finastra PAYplus for CLS platform to support the bank’s direct participation in CLS settlement.
Payment Systems & Suppliers Report |
www.ibsintelligence.com
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