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ACE SIBOS 2006 Newsletter
Ready for SEPA?
And on TARGET2?
Welcome to our SIBOS 2006 newsletter.
If SEPA (Single European Payments Area) is indeed the 13-19 Euro billion revenue black hole some of us believe, news that that both EPC credit and debit schemes have been approved should act as a timely reminder that competitive advantage will be gained by being well prepared for these monumental changes to bank payments.
It is imperative for banks to move quickly to comply, but also be well equipped to profit from the improved border-less payments environment and develop new revenue streams. Our products are central to this process. We have traditionally reduced transaction processing costs and are now enabling products that actually make money!
Meanwhile, TARGET2 is creating what we call "Internet banking for the banks," which will have similarly profound implications for cash and liquidity management, and create new opportunities for financial innovation.
ACE Software is hard at work creating added-value solutions for banks whether you are an operations manager seeking efficiency and cost saving, a risk manager looking to mitigate uncertainty, or a product manager seeking for example to offer clients improved treasury services by improving liquidity management.
Even the humble fax is getting our attention as our customers move further down the STP route. If you have a multi-million dollar cost centre with many hands pushing paper, wondering if there is a way to repurpose those staff and take out some big processing risks, then our FAX Assistant(tm) is just what you need.
Below you'll find an overview of the SEPA and TARGET2 initiatives, and an overview of our Pelican product, a discussion of one of our partners-CB.Net-with whom we are doing pioneering work in IBAN STP. SIBOS 2006 is rapidly approaching and we look forward to seeing you "down under", and a hope we might share a few "tinnies."
Ace Sotware's PELICAN™ makes for safe crossing to SEPA/TARGET2
The issues of SEPA and TARGET2 span the gamut of transaction size, character and frequency. But ACE Software's PELICAN(tm) product, launched at SIBOS last year, has been designed to deal with both. PELICAN(tm) suite is a pan European payments, liquidity and cash management system. It supports full connectivity to TARGET2, EBA, STEP2, Correspondent Banking, domestic clearing and ACH networks requirements.
Some of the value-added functionalities required for SEPA from ACE are:
* Global Payments Model --- * Automatic IBAN validation --- * Automatic BIC generation from IBAN
* Automatic FIN & XML translation --- * Intelligent Payment routing --- * Intelligent Name and Address Matching
* Automatic Message Repair
In addition, PELICAN can be used by financial institutions and corporates worldwide as a Domestic, SEPA or European (SEPA & TARGET2) payments gateway to exchange high value, low value payments and SWIFT messages.
New Payment Products Drive New Revenue
ACE Software release the potential to generate cash from existing payments services Exploding the myth that the payments business should focus purely on cost, added-value processing is creating new sources of revenue for our customers.
Forthing coming events
ACE Software Solutions will be exhibiting again at Sibos 2006, 9-13 October in Sydney. Please come along and meet us, our booth is right outside the lunch area for your convenience.We are sharing a few informal drinks with clients and partners from 4.00 on Tuesday and Wednesday. Please join us!
For more details on Sibos 2006 please visit http://www.swift.com
About Ace Software Solutions
ACE Software Solutions is a specialist provider of artificial intelligence-based solutions for several premier Financial Institutions in Europe, N. America and Asia. ACE has a range of sophisticated products for enterprise-wide Cash and Liquidity Management, Straight Through Processing (STP), Enterprise Application Integration (EAI), Anti-money Laundering (AML) and Fax Automation. ACE has many of the household names of Financial Services industry as its customers. .
How to reach the ACE Software Solutions Marketing Team
Tel: +44 (0)208 947 7200 --- Fax: +44 (0)208 947 2694
Email: marketing@acesw.com
Web: http://www.acesw.com
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