PelicanPay, a division of ACE Software Solutions, said that Dutch pension asset manager and administrator PGGM, which has roots in the healthcare and social work sector, has implemented the PelicanPay centralised payments hub.
Rapidly installed, PelicanPay replaces a legacy corporate payment system and processes over 350,000 transactions daily. PGGM is now empowered with visibility as well as full control and compliance over payment traffic.
“PelicanPay consolidates payment processing from multiple departments, enterprise resource planning [ERP] systems and processes using a single payments channel, accessed through a unified command and control centre,” said Parth Desai, president and chief executive officer (CEO) of ACE Software Solutions.
“It is one of the easiest and quickest ways to efficiently gain payment control, reduce cost and lower risk. It provides prompt notification of exceptions and users benefit from the ability to process payments from different sources to multiple banks for timely execution.”
Data from Swift’s latest RMB tracker shows exceptional growth in RMB adoption in the United Arab Emirates (UAE), witnessing a 210.8% growth in payments value of the currency since August 2014, albeit from a low base.
SWIFT has announced that it has successfully completed the first phase of the global payments innovation (GPI) initiative pilot, clearing the way for the go-live of the service in early 2017.
Sentiment in the financial services sector deteriorated in the three months to September, as firms digested the challenges of lower interest rates and the uncertainty caused by the vote to leave the European Union (EU), according to the latest CBI/PwC Financial Services Survey.
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.