Pelican Pelican (ACE Software Solutions)
Corporate overview
Set up in 1994 to provide end-to-end STP solutions based on Artificial Intelligence techniques, US-based Pelican now specialises in message processing, STP and financial crime compliance solutions for financial institutions and corporates. Claiming around 30 clients worldwide, Pelican has overseas offices in the UK,India, Middle East and Hong Kong. Pelican the company’s flagship platform and within this there are three principal solutions: PelicanPayments for Transaction Banking, Payments Hub, Open API, Corporate Banking and Corporate Payments, PelicanFast for real-time payments and compliance engine for multiple regions inc. Europe and US and Payment Secure – Sanctions Screening, Real-Time AML, Payments Fraud Detection, and Trade Based Money Laundering detection In September 2016, ACE Software was rebranded as Pelican – named after its leading platform for advanced end-to-end payments and compliance management. The decision followed the company’s plans to expand its growth in the use of artificial intelligence (AI) for payments and compliance. The new corporate identity was unveiled at the SIBOS conference in September. The company also appointed a new advisory board comprising of major fintech leaders during the same month.
Strengths
• Long-standing specialist. • Reasonable, international client base. • Single integrated platform for both payments and financial crime compliance
• Extensive experience applying AI in its solutions Summary history
1991 Pelican established as ACE. 2007 ACE repackages its Pelican offerings to include new industry-specific solutions: Pelican for SEPA, Pelican for SwiftNet and Pelican for Corporates.
2016 ACE re-branded as Pelican. Overview
Pelican for SwiftNet aka PelicanSwift (there’s been a fair amount of rebranding) provides a Swift gateway for low-end messaging. A dashboard is available for Pelican for channel management, which is aimed more at larger financial institutions which have multiple back office systems to be managed. The Payment Messaging Hub/PelicanGateway is intended
to provide visibility and end-to-end transaction tracking of the different types of messages. This allows users to see which
messages are stuck, which need priority and so on. This hub is aimed at high-end financial institutions, which need control of the messaging aspect of Swift and payments. The vendor also states that the hub allows an institution to consolidate its messaging infrastructure, including domestic and cross- border and both high- and low-value. Parth Desai, president and CEO of ACE, claims that, while many systems allow the same type of visibility, ACE’s platform allows users to act on information, to take corrective action. This should reduce operational risk and lower cost, Desai believes. Pelican also offers a number of different functionalities
Payment Systems & Suppliers Report |
www.ibsintelligence.com 21 Weaknesses
• Low profile, limited reach. • Few cross-marketing opportunities.
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