Petra Financial (London), a provider of payments data automation software, is integrating Power Payment Technologies' (Luxembourg) Exceptions and Investigations solution into its financial reporting solution, Clarion.
Clarion is a flexible reporting tool that enables any field in a SWIFT message to be analyzed. It will now incorporate Power Payment Technologies' J2EE based E&I solution to simplify and deliver E&I capabilities to all banks. Previously, this type of solution was only available within large and expensive payments processing systems. Now with this development, all banks can benefit from the functionality on a subscription basis. The new solution will be branded Clarion E&I and would be available either as an online service or as Software as a Service (Saas).
Alain Falys, Power Payments Technologies director commented, "Petra Financial and Power Payments Technologies have the same perspective on bringing functionality previously only available to large banks to all banks. E&I is a growing issue, and we are delighted to join together with Petra Financial to deliver a comprehensive, yet very cost effective solution to banks that will almost certainly return tangible benefits within a few months of service."
"Banks are very keen to enable corporate clients to create payments, and errors can cost as much as the original payment charges. Enabling clients to access the exception helps reduce these costs and deliver better more transparent service," says Alain Falys, Power Payments Technologies director.
Peggy Bresnick Kendler has been a writer for 30 years. She has worked as an editor, publicist and school district technology coordinator. During the past decade, Bresnick Kendler has worked for UBM TechWeb on special financialservices technology-centered ... View Full Bio