Euronet USA, the software division of electronic payments provider Euronet Worldwide, and IBIS Management, a provider of intelligent international payment processing, have formed an alliance to market and support one another’s product portfolios.
The partnership will enable Euronet to provide seamless straight-through processing (STP) and real-time preventative compliance filtering for payments entering and leaving the bank via the integrated transaction management (ITM) channels. Payments such as SWIFT international payments, automated clearing house (ACH), bankers drafts and credit card settlement will be passed from Euronet’s online banking and point of sale (POS) channels to IBIS Management’s Alchemy Payment Processing Suite electronically for posting, compliance checking and fulfilment. This automated processing will eliminate traditional, costly and risky manual-based activity in the bank’s back office. Banks will immediately benefit from substantial cost and risk reduction, and higher margins on each payment generated.
“After working on joint client projects, we spotted a real synergy between our offerings for international banks,” said Cindy Ashcraft, managing director of Euronet. “This partnership with IBIS Management will allow us to deliver compelling results in the area of enabling SWIFT payments and other types of payment processing.”
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