How can your bank
offerings line up with
your corporate needs?
Chances are you need
Payment Manager
It’s time to
face up to the
challenge
➔
Many banks have embedded payments-related functionality
and data in each of their Front Offi ce systems. Changing
and adding new payments-related functionality (like SEPA)
requires that these be adjusted. Since most systems have their
own payment instruction repository, it’s not easy to provide
customers with a true end-to-end visibility of payments that is
consistent across all Front Offi ce systems.
In addition, the interfacing between Front Offi ce systems
and the multiple siloed Back Offi ce systems has resulted in a
complex structure of point-to-point interfaces. This does not
only mean high integration costs and long implementation
timelines, but also causes poor or no feedback to customers
about the results of the payment processing.
If you are looking for a way to meet these challenges,
Tieto Payment Manager is your answer.
➔
➔
➔
➔
➔
➔
➔
➔
➔
➔
➔
➔
➔
➔
➔
➔
➔
➔
➔
➔
➔
➔
➔
Payment Manager is a Middle Offi ce solution that enables easy access to
transactional and reference data from both Back Offi ce and Front Offi ce.
With Payment Manager, payment functionality in the various channels can
be substituted with functionality in one integrated and consistent system,
reducing development and maintenance costs.
For your
corporate banking business
, Payment Manager enables you to:
➔
Refresh your customer value proposition and start
moving your offering up the fi nancial value chain
➔
Offer new products & services ready for
the real-time economy
➔
Deliver a new information paradigm valid for
all types of product offerings
For your
payment business
, Payment Manager enables you to:
➔
Introduce new products & services without
recourse to your legacy environment
➔
Undertake transformation programs to migrate
to an effi cient, new payment operating model
➔
Payment Manager works as a bridge between the multiple Front Office and Back Office systems in a bank. It consolidates data and services into one common environment – transferring transactional and reference data from the operations-controlled Back Office to an information hub that is managed and accessed by banks and their corporate customers alike. Payment Manager provides banks with a cost-effective way of delivering new sources of revenue by sidestepping the need for wholesale re-engineering of their Back Office systems. The addition of new, or adjustment of existing function-ality (e.g. validation rule), only needs to be carried out once and not in multiple places (such as Front Office systems). As a result of the consolidation of payment
related data, all payments can be monitored from one single access point (UI). Features like customer billing, business intelligence and management reporting can be handled from one single data source. The result is simplification and more consistent information. The consolidated functionality and data is provided by one single instance of Payment Manager and exposes this as SOA-based interfaces to the bank’s Front Office systems. The Front Office systems take care of cus-tomer interation and request services from Payment Manager to perform payment-related functions (e.g. validation and/or registration of a payment instruction, request data).
An innovative
‘single instance’
environment
➔
➔
➔
➔
➔
➔
➔
➔
➔
➔
➔
➔
➔
In addition to creating a ‘single instance’ environment for customers through multiple channels, Payment Manager provides a new framework for managing the bank’s payment business and delivers capabilities that provide performance data to help product and relationship managers execute their roles. Payment Manager is a powerful and valuable information base where reporting can be provided to both in-house users and customers, transforming payment process-ing from a grey ’must do‘ to a truly valuable tool for everyone involved.
Payment Manager controls payment instructions until execution by the processing payment engine. Thus, the instructions are controlled by the customers until actual execution. Furthermore this will simplify com-plex integration between the different Front and Back Offi ces. Feedback from the Back Offi ce system is used to update the payment status, so it is accessible to each Front Offi ce system. Payment Manager can also generate notifi cations or advices for distribution to the customer via one of the Front Offi ce systems based on a status update.
• New revenue through innovative products and services: Ready for the real-time economy • Faster time-to-market: Lower investment
on implementing new and improved products, services and features
• Refresh the bank’s customer value proposition and start moving the offering up the fi nancial value chain – deliver a new information paradigm that is valid for all types of products
• Address customer retention by providing improved customer experience by satisfying demand for real-time services and self-service capabilities. Get improved customer services and experience as a result of:
− More consistent and up-to-date information − Improved end-to-end visibility of payments − Pro-active notifi cations and advices
− The ability to provide true cross-channel services − Better self-service capabilities for customers
• Deliver cost benefi ts by supporting channel consolidation strategies, providing e2e and STP functionality and self-service capabilities that access a single instance of event and static reference data • Improved end-to-end monitoring of payment
processing operations by bank staff
• Undertake transformation programs that migrate banks away from their legacy environment to their future payment operating model
• Improved management reporting and business intelligence
