Bank Payment Hub
Bank Payment Hub - Centralised Payment Systems
Clear2pay’s Bank Payment Hub (BPH) is an umbrella payments solution offering a combination of tactical products. The BPH enables financial institutions to implement a centralised payments infrastructure that facilitates origination through instruction management to execution across the enterprise. The BPH enables Financial Instiutions to move away from the silo approach in a controlled manner to significantly reduce time-to-market, migration risk and maintenance costs whilst providing a future proof, component based payment infrastructure.
Over the years the payments industry has grown increasingly complex. Unwieldy silos have been created within banks causing them to ask the question: should we be in the business of payments? Since the advent of the internet and associated technologies, opportunities have arisen for banks and other processors of payments to change their
approach towards payments processing. These lead to payments being viewed as a valuable asset as opposed to a costly commodity.
The evolving nature of international payments markets and regulatory changes constrict some tactical and even strategic decisions. Regional initiatives around the globe have banished domestic one-market-fits-all solutions to history as modern payment systems need international reach. The widespread adoption of the Single Euro Payments Area (SEPA) and EBPP coupled with growth in Remittance, cross-border payments and check usage in the USA, mean all banks, wherever they are based, need international readiness more than ever.
The Bank Payment Hub from Clear2Pay is a centralised payments infrastructure derived from the Open Payment Framework (OPF). The BPH allows banks to manage payments from origination through instruction management to execution across their enterprise.
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