Accounting and Financial Software
Enabling Banks to Transform
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LONDON, March 15 - LogicaCMG at International Payments 2006
LogicaCMG is a key sponsor of Europe's premier and most comprehensive payments event, International Payments 2006, 21-24 March 2006 in London. At the event, the company will showcase a high volume, SEPA-ready component to its LogicaCMG All Payments Solution (LAPS) product suite. This new component will enable banks to optimise their bulk payment processing and will also support white labelling, enabling banks to insource payments business more easily.
Simon Bailey, payments director, global financial services, LogicCMG said: 'The current version of LAPS is already operational in many European financial institutions and processes several million transactions per day. We have introduced the new high volume component to support the move towards SEPA compliance in Europe, which is forcing banks to make important decisions about whether to outsource or insource payments. LAPS will support future SEPA payment schemes and formats when these are released. This is part of a broader approach that enables our clients to shape the transformation of their payments business in terms of operational, technical and financial target models and the specific business benefits they will deliver.
"SEPA means that a common low-cost approach will be imposed for European payments processing. Together with other regulation, such as the UK Faster Payments initiative, SEPA compliance will drive financial institutions to consolidate and replace existing banking systems. For many banks this can be a first step towards outsourcing payments processes and reducing costs, and the banks that are the quickest to adopt pan-European payments systems and use these to offer low-cost, differentiated services to customers will compete for the small number of high volume service bank roles that will
exist. We believe that compliance will provide an opportunity for transformation and to develop a competitive edge - not just regulatory box-ticking."
You can find LogicaCMG on stand 19 at International Payments 2006. There will be a team of LogicaCMG payment experts at the event who are available to speak to you about SEPA, Faster Payments and the LAPS product suite. You can find more information about International Payments 2006 at http://www.icbi-uk.com/ips/
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.
Source: LogicaCMG Plc
For further information and to arrange meetings at the conference please contact: Isabell Horvath, LogicaCMG, +44-(0)-20-7446-1259, MOBILE: +44-(0)-7739-774512, ISABELL.HORVATH@LOGICACMG.COM
