We were at the SWIFT Operations Forum Americas conference a couple of weeks ago, and again we heard one of the biggest pains from banks, corporate and SWIFT was the last mile problem– integrating SWIFT, BAI or other standard into back off systems.
We have worked with a number of banks who either evaluated or purchased a payment hub application alongside payments integration infrastructure like Informatica. That is because most banks do not replace all their internal systems (often bespoke) with one application—they realize they will always need a combination of applications and bespoke systems. As result, they need a way to integrate the bespoke systems and payment hub application.
For example, in 2006 a major bank in the US initially looked at Informatica and Clear2Pay to provide a joint payments solution. They decided to use Informatica for payments integration, and today we are still the data integration platform for integrating all types of files from their customers into their internal systems.
In Europe, with the impending SEPA end date regulation, the banks and corporates are mandated to send ISO messages, for all transactions. This includes the low value and some high value traffic that has traditionally been sent in domestic formats. Payment applications may support the additional fields required for that particular application, but they may not support the mapping of fields to other (custom or purchased) applications within the bank.
We’d like to speak to you more about what your payment hub needs to be successful. If you’re coming to the upcoming Payments 2011 (NACHA) show, come see us at Booth #328! For more information on the NACHA Payments 2011 conference and other upcoming Informatica events, see: http://www.informatica.com/news_events/Pages/allevents.aspx