Misys Payment Manager – a revolution in bank payment processes?



image Misys plc, the global application software and services company, today announces a new solution to help banks to centralise and streamline their payment processes. The packaged payment hub is 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.

Sean Mouton, Sector CIO Group Operations, ABSA, comments: "There are clear benefits to moving to a payments hub/utility and we have taken that route at ABSA. We have been heavily involved in the Misys Customer Advisory Boards on payments and think that the direction that the company is taking with Misys Payment Manager is very positive. Those that take this direction will be able to generate greater efficiencies, better customer service and will be able to generate new revenues from it."

Barry Kislingbury, Solutions Manager Payments and Messaging at Misys adds, "Our new payment hub is based on architecture and technology, developed and enhanced over the last 30 years and proven in more than 200 customer sites throughout the world. Misys Payment Manager can be implemented in brand new payments businesses and existing core payments systems alike, providing a modern and more efficient automated workflow which helps customers improve their own STP rates and manage payments that come from their bank’s systems. This is a great step for banks of all sizes to take in order to maximise the revenue they are making in payments at the same time as improving the way they service their customer needs in payments and remain compliant with standards and regulations."

ECJ




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