Tag Archives: payments

Building A Business Case For Data Quality: Identify Business Impact

Building A Business Case For Data Quality, 6 of a 7-part series

Once you identify the many data anomalies, you need to work with the business to quantify the business impact. If you can’t determine the impact on the business, it either has no impact or you are talking to the wrong people. If you can’t determine the impact, you might as well stop right there or find another area to look at:

 

No impact = No reason to fix it = No money (more…)

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What Does It Take To Be A Leading Player In Payments Integration?

Last Thursday, Aite Group, Capgemini and Informatica discussed why data integration was critical to the success of payment hubs. One of the questions from the audience was: who were the leading players? Capgemini responded that there are different segments of players– system integrators, payments application vendors, payments integration vendors. And each segment had a role in the success of a payments hub. But to say who is leading, you need to first look at what it takes to be a leader. Let’s look at what it takes for payments integration: (more…)

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Posted in B2B, B2B Data Exchange, Data Transformation, Financial Services | Tagged , , , , , , | 1 Comment

What Are The Hot Trends In Financial Services?

A Webinar Series with Aite Group and Informatica

Informatica, Aite Group, and Financial industry thought leaders just launched a series of webinars on hot trends in Insurance, Banking and Capital Markets. The issues by industry include:
In Insurance:

  • Master Data Management has become critical to customer retention and effective cross selling and upselling
  • ACORD based integration is critical to the success of Master Data Management because of the increased adoption of ACORD internally to integrate data from disparate systems into an MDM hub
  • In Wholesale Banking:
  • Payments infrastructure is getting increasingly complex due to mergers, increasing payment channels and types
  • Payments integration, as a result, is becoming increasingly important to integrate the new payments hubs with legacy systems that will continue to operate or exist from pre-merger days (more…)
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Posted in B2B, B2B Data Exchange, Data Transformation, Financial Services, Uncategorized | Tagged , , , , , | Leave a comment

How Does Your Cash Reporting Solution Measure Up?

As we continue to emerge from the financial crisis, cash reporting is critical. Cash management functions have centralized in many organizations and increasing volumes of global payment transactions continue to drive the focus on cash reporting. How competitive is your cash reporting solution? Are you meeting the needs of your customers? Do you have the following gaps in your solution?

1. Lack of standard cash reporting format and implementation guidelines
2. Inability for machines or humans to easily read cash reports (without IT involvement to customize reports)
3. Delay in providing new cash reports to customers due to:
• Lack of automated support for SWIFT 9xx messages in current payment application
• Extensive, time consuming testing required as a result of custom code
• Lack of automated BAI to SWIFT conversion support
4. Inability to support new corporate requirements (e.g. due to inability to support new capabilities in XML based formats such as SWIFT MX)

In a recent AFP (American Finance Professionals) survey, respondents wish to see several changes to the BAI code reporting process in the future. 84 percent of corporate respondents would like the format and implementation guide standardized across all banks. Forty-four percent would like the tags and XML descriptions standardized to make the information more easily read by machine and humans.

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Posted in B2B, Business Impact / Benefits, Financial Services, Operational Efficiency | Tagged , , , , , , , | 1 Comment