Press Release Summary:
Optimizing concurrent transactional processing for real-time and accurate payment processing, web-based eGlobal Payment and Fulfillment Platform helps banks and financial institutions adhere to proposed Federal regulations for fast payments and risk management. Platform optimizes security, audit and compliance, settlement and fulfillment, all on-demand. Built on SOA/SEDA platform, eGlobal supports wire transfer, ACH initiation, customer enrollment, and workflow management.
Original Press Release:
Primeton Software Inc. Debuts eGlobal Payment and Fulfillment Platform at the BAI Payments Connect 2015 Conference in Phoenix
PHOENIX, -- As part of its continued involvement and support of the financial services industry, Primeton Software of Irvine, Calif., will debut and showcase its new eGlobal Payment and Fulfillment Platform at this year's BAI Payments Connect Conference & Expo on March 2-4, 2015, in Phoenix, Ariz., at booth Number 612. The three-day conference is the only conference devoted exclusively to the needs of today's payment leaders.
"The banking industry is plagued with legacy payment platforms that are not able to keep up with today's mobile and Web technologies, changing federal regulations and the need for concurrent payment processing. The pressure is mounting from retail payment disruptors, including Apple Pay(TM) and PayPal®, which are challenging the banking industry to transform its core charter as the custodian of the economy's payment mechanism," said Ariu Levi, president and CEO of Primeton Software.
"A major shift in the paradigm of the banking industry's wholesale payment technology is long overdue. Enabling faster payments, managing payments risk and improving security, audit and compliance, settlement and fulfillment, all on-demand, requires an SOA/SEDA* Web services platform technology that can handle the massive currency short windows processing, both outside and inside the firewalls," Levi added. "Primeton Software's eGlobal Payment technology platform has proven that it can manage these technical challenges and support the digital banking transformation," Levi added.
Primeton's Web-based eGlobal platform empowers banks and financial institutions to transform the way they do business by improving concurrent transactional processing for faster, real-time and more accurate payment processing. The eGlobal platform was also designed to help banks and financial institutions adhere to proposed governmental regulations for faster payment processing.
"Legacy client-server-based payments systems are difficult to integrate with and slow down payment settlement," said Craig Focardi, senior research director of CEB TowerGroup. "We can make many types of payments in seconds via mobile devices, but payment settlement and funds availability still takes days. Retail payment disruptors threaten to disintermediate the current convoluted payments networks if financial institutions do not upgrade their payments systems to speed settlement and lower transaction costs," he added.
The eGlobal platform delivers faster payments and manages payments risk. It also improves security, audit and compliance, settlement and fulfillment, all on-demand. It is an SOA/SEDA Web services platform technology that can handle the massive currency short windows processing, both outside and inside the firewalls, while helping banking institutions adhere to new and proposed Federal regulations for fast payments and risk management.
Built on Primeton's SOA/SEDA platform, the eGlobal platform delivers transaction integrity, with extensive capabilities, including:
-- Cash Management Front End
-- Wire Transfer
-- Automated Clearing House (ACH) Initiation
-- Customer Enrollment
-- Mobile/Web-based Solutions
-- Workflow Management
-- Real-time Audit
-- Auto Trail
-- User Entitlements
-- Regulatory Compliance
-- Data Analytics
-- Compatibility with all major mobile platforms
In its BAI booth, Primeton will provide a demo of its eGlobal Payment and Fulfillment platform for transaction processing, including Cash Management, Wire Transfer, Automated Clearing House (ACH) and Customer Enrollment mobile/Web-based solutions. Integrated into these functions are Workflow Management, Auto Trail, Security, and Entitlements.
BAI is a one-of-a-kind industry event that focuses exclusively on providing fresh perspectives about the future of the industry, actionable insights and innovation solutions that payment leaders need to create a forward-looking strategy for managing the rapid, disruptive changes that continue to define the payments space.
See Primeton's innovative solutions on display at booth Number 612. For more information about BAI Payments Connect 2015, please visit BAIPaymentsConnect.com.
About Primeton Software
Primeton Software is the world's leader in transforming enterprise legacy transaction processing systems. Its applications are the choice of 1,100 enterprises and financial institutions in 43 countries, including Alibaba.com, ICBC, Bank of China, and China Mobile. Its proven technologies automate and process more than 200 million daily transactions. Primeton's solutions help organizations smoothly migrate from legacy transaction processing systems to current technologies. Visit www.PrimetonSoftware.com.
BAI is the financial services industry's resource for breakthrough information and intelligence needed to innovate and stay relevant in an evolving marketplace. For 90 years, BAI has provided the industry with unbiased and objective education and research. BAI's offerings are as diverse as the industry and include premier events such as BAI Payments Connect Conference & Expo, groundbreaking research, professional learning and development programs, and in-depth editorial coverage through BAI Banking Strategies. For more information, visit www.bai.org.
BAI is Bank Administration Institute and BAI Center.
About BAI Payments Connect
BAI Payments Connect is the industry's premier payments conference. The event is attended by more than 700 payments professionals and solutions providers who converge to focus on current issues, challenges, and opportunities in the payments space. This highly engaging, interactive event provides attendees with practical solutions needed to manage disruptive technology, build customer relationships, streamline check and payment operations, reinforce cyber security efforts, and grow payments revenue streams. For more information visit: BAIPaymentsConnect.com
*Service-Oriented Architecture and Staged Event-Driven Architecture
Copyright 2015 Primeton Software Inc.