OBS Introduces ACH and Wire Transfer Payment Services

Following the introduction of Messenger Financial Centre (MFC) last year, Online Banking Solutions (OBS) has met its commitment to develop and deliver automated clearing house (ACH) and wire payment initiation services to complete the offering. OBS provides next-generation cash management and revenue-generating business banking solutions for banks, including eight of the top 50 US commercial bank holding companies.

Built to meet contemporary scale, channel, security and integration requirements, OBS’ MFC, a Web 2.0 cash management and business banking portal based on Online Messenger, enables banks to move beyond classic barriers to leverage delivery channels for files and transactions without limitation. With a contemporary design and receiver-based model, banks’ business customers can perform any financial transaction with ease.

In addition, OBS’ Messenger Mobile Services allows banks to leverage and deliver the new payment services through the mobile channel, as well as other licensed delivery channels. MFC provides transaction initiation including stop payments and account-to-account transfers and payment initiation of vendor payments, payroll and domestic wire transfers. OBS plans to continue building out their payments capabilities to include a full range of domestic and international payment types.

OBS’ chief executive officer (CEO) Dan Myers said: “The new payment services offer a simple user interface with step-by-step directions, assisting the user through the payment entry process. We expect this approach to minimise the cost and time to implement and train new users and remove the mystique of payment initiation.”


Related reading

New consumer banking head for Citi Asia Pacific