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ACE Software Solutions, Inc.
News Release
ACE Software's Pelican™ Crosses the Rubicon for Banks to Retrieve Profit from Payment Processing Revolution
Abu Dhabi Commercial Bank latest signing
Sibos 2006, Sydney, Australia 12th October 2006 — ACE Software Solutions, provider of fully integrated Straight Through Processing (STP) enabled payments and transaction processing solutions for the banking sector, has extended its Pelican™ product range to enable product managers more flexibility in building value-added payment solutions for their banking customers.
Steve Dickens COO of Abu Dhabi Commercial Bank said: “In considering a payments solution we were attracted to Pelican™ because it puts control in the hands of our business managers who need the tools to create new value-added payments options for our customers. As a fully tested suite of products, we have avoided extensive consultancy, guaranteeing delivery time and removing project risk.”
“As their customers become more demanding we are increasingly seeing the need for some form of Intelligent “payments middleware” from banks throughout the world,” says Parth Desai, ACE Software Solutions CEO. “Pelican™ allows banks to face these revolutionary changes such as SEPA, CHIPS and Faster Payments with confidence, and exploit them by building new payments products that benefit their customers.”
Pelican™ is positioned to offer a range of solutions that respond to an increasingly complex and demanding transaction process. Beyond improving operational efficiencies, the suite of products allows banks to automatically route, repair, reformat and reconcile payments. Thus, banks can build back in value-added offerings specific to individual customers, creating new profit opportunities.
For example, as PELICAN can read any structured message intelligently, it can react to a specific payment request in the way that a customer has instructed, following whatever value-added rules that apply to different transactions.
As payment options become more and more complex, with competing banks offering a range of routes between counterparties like different classes of postage, customers will want to capitalise on these choices.
Abu Dhabi Commercial Bank has recently purchased ACE Software's Pelican™ and further announcements are expected shortly.
About ACE Software Solutions
ACE Software Solutions provides integrated, end-to-end Straight Through Processing ( STP) solutions based on advanced AI (Artificial Intelligence) techniques. The company's Pelican™ solution offers fully integrated real-time payments, liquidity and cash management. Clients include financial institutions worldwide including BNP Paribas, Credit Suisse, Deutsche Bank, RBC-Dexia Financial Group and American Express. ACE Software Solutions is headquartered in New Jersey with regional offices in London, Brussels and Mumbai. For further information, please visit www.acesw.com .
About Abu Dhabi Commercial Bank
Abu Dhabi Commercial Bank - ADCB is a diversified full service bank. Other than banking services that span corporate, retail and commercial banking ADCB is active in the areas of treasury derivatives, infrastructure finance, private banking and wealth management. Since 1985 ADCB has reported successive years of record profits and consistent growth. Our approach is driven by the ability to create value for our customers by leveraging our skills and expertise.
Our strong franchise, supported by a network of 41 UAE branches and 2 in India is reflected in our rating by Moody's of Aa3 and Standard and Poor's of A, which are the highest awarded to a bank in the Middle East. The Government of Abu Dhabi, through Abu Dhabi Investment Authority (ADIA), holds 65% of the capital while the rest is held by various UAE Institutions and Nationals. For more information, please visit us on www.adcb.com
About SEPA
The Single European Payments Area is an EU requirement to unify payment processing in the Euro zone so that cross-border payments within the single currency area are as efficient and economical as c payments through the domestic banking system. It is designed to improve the position of individuals and companies transacting across the Euro area and mainly deals with high volume, low value payments.
About TARGET2
TARGET2 is an initiative driven by the European Central Bank to improve communications between banks and the central bank, particularly in the area of liquidity management. It primarily deals with the movement of high value, low volume transactions.
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