JERSEY CITY, N.J., Dec. 5, 2013 (GLOBE NEWSWIRE) -- Fundtech, a market leader in global transaction banking solutions, today released a new report that will guide banks worldwide on an optimal path when implementing a global payments system. Written in collaboration with IBM, and titled "The Global Payments Journey—A Best Practice Approach to Navigating A Major Payments Transformation," the paper highlights trends in global payments and transaction banking and proven best practices for all stages of a payments transformation.
Today's banking customers expect efficiency, reliability, and flexibility when making payments, no matter what service they are using or where in the world they operate. To meet these demands, growing numbers of banks are setting out to implement a single, integrated global payments system. These programs aim to transform a bank's payments operations by replacing fragmented legacy payments engines with centralized payments hubs, a complex and business-critical undertaking at the core of the bank.
"The scale, complexity and criticality of payments globalization mean implementing such a platform is fraught with challenges at each stage, from building the business case, to understanding the steps needed for a successful implementation, to addressing key post-production considerations," says James Methe, Associate Partner and worldwide leader of the Payments and Transaction Banking Solutions team in the Global Business Services division of IBM.
"Successful global payments platforms achieve end-to-end straight-through processing, cross-border interoperability, and seamless integration with other bank systems," says Fundtech Isaac Yaniv, strategic business unit head of global payments for Fundtech, and one of the co-authors. "To avoid missteps in this complex journey, banks will benefit from aligning with experienced industry specialists."
The report is co-authored by IBM's James Methe, John Walker, Robert Snider, and Ravi Kadiyala; and by Fundtech's Isaac Yaniv, Uri Melzer, and Gene Neyer.
To download a complete copy of this white paper, please visit: http://www.fundtech.com/library/white-papers/.
About Fundtech
Fundtech offers a comprehensive line of transaction banking solutions to banks and corporations of all sizes around the world. As a strategic supplier, Fundtech's customers benefit from lower operating costs and an enhanced end-user experience through integrated and feature-rich solutions. The firm's major product lines include: global and regional payments, corporate cash and liquidity management, financial messaging, electronic invoice presentment, supply chain financing, remote deposit capture, merchant services, credit card gateway and mobile banking products. Fundtech offers its software through a traditional software license and a Software-as-a-Service (SaaS) contract. Thousands of financial institutions and companies worldwide rely on Fundtech's innovation to improve operational efficiency, increase revenues, and provide greater competitiveness through business-to-business services. Founded in 1993, Fundtech was acquired in 2011 by GTCR, a Chicago-based private equity firm. For more information please visit www.fundtech.com.
About IBM
To learn more about IBM payments and transaction services, please visit: http://www-935.ibm.com/industries/banking/payments.html