Bank Software helps manage critical business functions.June 20, 2006 -
Part of LogicaCMG All Payments Solution v1.0 (LAPS), integrated LAPS High Care Payments system enables banks to safely transform their payments business. Flexible, component-based global payments architecture supports banks' long term business direction, regulatory compliance, and rationalization of customer management, pricing and billing, and risk management. Solution ensures banks can address Single Euro Payments Area (SEPA), US Patriot Act, Fedwire, and CHIPS protocol standards.
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Original Press release
LogicaCMG Plc
75 Hampstead Road
London, ,
United Kingdom
LogicaCMG Announces Global Availability of the LAPS High Care Payments System
LONDON, May 17 -- LogicaCMG today announces the global availability of the integrated LAPS High Care Payments system, part of the LogicaCMG All Payments Solution 1.0 (LAPS) from the 19th of May onwards. LAPS supports banks to safely and progressively transform their payments business. The functionality of existing legacy systems can then be gradually replaced and new functionality added. LAPS enables banks to move towards a flexible, component-based global payments architecture that will support their long term business direction.
Building on LogicaCMG's 30-year history in providing payments solutions to transform payments processes, LAPS High Care allows banks to:
- Increase straight through processing for international and urgent payments
- Reduce costs of payments through rationalisation of banking operations
- Progressively refresh and renovate their current patchwork of payment related systems
- Support regulatory compliance
- Improve time to market for new products and services that require payments functionality
- Support rationalisation of customer management, pricing and billing, risk management and other critical business functions
This gives banks the ability to generate revenues through the rapid introduction of new products and services, reduce cost of ownership, increase scalability and improve flexibility in the payments infrastructure.
Lode Snykers, managing director of LogicaCMG's global financial services business, said: "LAPS High Care is focused on processing wholesale and international payments traditionally referred to as High Value payments. Our solution comprises several separate components including a business process manager, liquidity manager, business activity monitor and of course a core payments engine and STP facilities. Multiple safe and proven migration options are available to suit different customer preferences and to mitigate the risk of change. Customers achieve immediate benefits by applying an approach of progressive renovation to introduce new capabilities. The step-by-step (component by component) implementation is a significant innovation and helps to optimise the business performance of our customers. We worked closely with existing and potential clients to develop and deliver this solution."
The LAPS solution ensures that banks can address the new realities of the payments business such as the creation of the Single Euro Payments Area (SEPA), US Patriot Act, new Fedwire and CHIPS protocol standards and the global trend towards settlement through central clearing institutions like the CLS Bank. It focuses on delivering the needs of commercial banks in transforming the economics of payments whilst protecting their existing investments in systems that focus on operational processes. LAPS High Care reflects LogicaCMG's leadership position in the payments solution space and demonstrates the company's continued commitment to providing the most innovative and flexible solutions to the global payments community.
The LAPS High Care solution has been developed by LogicaCMG incorporating technology from Dovetail Systems and Insider Technologies, leading exponents of component development. It forms part of a family of LogicaCMG All Payment Solutions including LAPS High Volume.
About LogicaCMG
LogicaCMG is a major international force in IT services. It employs 30,000 people across 36 countries. LogicaCMG's focus is on enabling its customers to build and maintain leadership positions using LogicaCMG's deep industry knowledge and its track record for successful delivery. The company provides business consulting, systems integration and IT and business process outsourcing across diverse markets including telecoms, financial services, energy and utilities, industry, distribution and transport and the public sector. Headquartered in Europe, LogicaCMG is listed on both the London Stock Exchange and Euronext (Amsterdam) (LSE: LOG ; Euronext:LOG). More information is available at logicacmg.com.
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