Misys has launched a solution that is designed to help banks centralise and streamline their payment processes. The packaged payment hub is billed as a low risk and rapid way for banks to modernise their payments environment, at the same time as protecting their existing investment in legacy systems.
Powered by Misys Message Manager and supported by the company’s portal technology, Misys Payment Manager extends the visibility and control of any payment through its complete lifecycle. The solution automates and standardises payment processes from capture all the way through to settlement, cutting out manual processes and significantly reducing the risk to the bank’s reputation from failed payments. This improved efficiency enables banks to increase the volumes and capacity of their payments business as it grows, without having to increase headcount.
The enhanced payment monitoring and control functionality within Misys Payment Manager helps banks to deliver higher levels of customer service and new products. Financial institutions can replace complex payments flows between existing core processing systems with a centralised payment hub, through which all payments flow, making those existing payments more visible through a single user interface, improving internal efficiencies as well as customer service and STP rates.
Misys Payment Manager, a Java EE thin-client application built on service-oriented architecture, provides a single, central location from which system updates can be rolled out once, rather than multiple times for each separate processing system. Organisations already operating with a payments processing engine can also wrap Misys Payment Manager around their existing system to control the processes and modernise the environment, automating payment queues and highlighting exceptions earlier in the process, without a ‘rip and replace’, project and utilising existing investments.
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