Fintech, Finance, Technology, Banking Highlights – 28 November 2017
Fenergo to provide its Client Lifecycle Management solution to BNP Paribas
Fenergo’s flagship solution, Client Lifecycle Management, has been selected by BNP Paribas as part of its global transformation project.
Fenergo, the industry standard for Client Lifecycle Management (CLM) solutions for Corporate & Institutional, Business & Commercial, and Private Banks, has today announced a signed deal with BNP Paribas. The bank is Fenergo’s sixth European client to be signed in the last six months.
Fenergo’s CLM solution will support BNP Paribas’ global transformation project, delivering a single client view across all jurisdictions and entities and enabling the bank to efficiently comply with all local and global regulatory rules and deliver an optimum customer experience.
“We chose Fenergo for both their deep, out-of-the-box CLM functionality and their v8 technology that is a good fit with our own modernized technology landscape. I look forward to working with the Fenergo team and their wider client community to input into the continually evolving product and regulatory roadmaps” said Bernard Gavgani, Global Head of CIB IT and Operations within BNP Paribas.
Fenergo launched Fenergo v8 to its clients in June 2017 during its Global Client Council held in Ireland. An easy-to-use, intuitive and powerful platform, Fenergo v8 redefines Client Lifecycle Management as it is currently known. The solution is built upon React, the same technology that underpins such high-volume, high-profile firms such as Netflix, Facebook, Instagram and the New York Times e-platforms, where performance and ease-of-use are of the highest priorities. It offers a radically improved user experience with more efficient orchestration, enhanced navigation and greater visibility across client cases. Deploying advanced technology architecture, v8 delivers faster page load times and responsive design, enabling cross-browser and multi-device support, improved search engine support, increased scalability and greater data integration capabilities. The solution also provides enhanced intelligent document management capabilities, including wiki-style and auto-generated documents.
UniCredit rolls out its cross-border instant payments solution, starting with Italy and Germany
UniCredit has launched its instant payments solution in Italy and Germany. Immediately after the European instant payments infrastructure was officially in operation this morning, UniCredit conducted its inaugural instant payment from Germany to Italy. The payment took exactly 2.5 seconds to be completed, demonstrating the bank’s capabilities in both countries and across borders. This makes UniCredit the first bank to offer real-time payments in Germany and the first to use the format for a cross-border payment.
Today’s launch marks the beginning of the bank’s roll-out of instant payments in line with the European Payments Council’s (EPC) SEPA Instant Credit Transfer (SCT Inst) scheme, as originally initiated by the European Central Bank. Instant payments allow clients to conduct payments within only a few seconds. As set by the EPC, there is a limit of 15,000 euro per transaction.
Gianfranco Bisagni, Global Co-Head of CIB at UniCredit, comments: “After a very focused development and implementation process, the official launch today is a proud moment for us. We have always aimed to lead the way on developing instant payments solution for our clients and we are excited about the benefits this new service will bring to our clients – promoting speed and transparency through 24-hour, 365-days-a-year coverage and real-time notifications of successful payments.”
SIA Launches a New Digital Platform for Instant Payments
SIA launches “SIA EasyWay”, the new digital platform which allows banks and other payment service providers (PSPs) to manage at European level the instant payments available from 21 November on EBA Clearing’s RT1 infrastructure developed by SIA, in addition to all other SEPA payment and collection instruments. In fact, as of this date, citizens and companies in 34 countries in the Single Euro Payments Area (SEPA) are able to transfer and receive sums of up to €15,000 per individual transaction in less than 10 seconds through a service available 24 hours a day, 365 days a year, in line with the SEPA Instant Credit Transfer (transfer with real-time and irrevocable credit) scheme of the European Payments Council (EPC).
“SIA EasyWay” was created with the aim of helping financial institutions and PSPs with adoption and management of SEPA instruments (such as SCTs and SDDs), of instant payments and more generally of the new open banking scenario. Through the SIAnet network, which guarantees secure and ultra-fast connections thanks to a new low latency messaging technology, “SIA EasyWay” provides access to EBA Clearing’s RT1 and is also ready to connect the other European Automated Clearing Houses (ACHs) and future instant payments platforms.
“SIA EasyWay” operates as a “hub”, simplifying the integration of instant payments with the financial institutions’ internal systems, reducing costs and activation times for new services. This is made possible thanks to an “end-to-end” service that covers the entire payment chain, from order management via all channels used by banks and payment service providers (such as mobile, internet, sales points, etc.), to business processing and access gateway.
