IBM said ABK Systeme, a provider of electronic payments with more than 100 banking customers in Europe, is integrating FTM (Financial Transaction Manager) into the E.F.I.S. electronic back office system to provide a payment-processing platform for more than 80 different formats and standards.
ABK is using FTM on IBM z to support the significant growth they have seen in payment transactions. This combination of hardware and software helps to deliver security and integrity in every payment transaction without sacrificing service quality.
“By offering our international customers integrated interfaces for all communications protocols using IBM’s proven FTM software, we can deliver new services to clients,” said Ulrich Buch, CTO, ABK-Systeme. “By linking to SWIFT, we can deploy the latest architecture and the entire spectrum of communications protocol required by our clients.”
The enterprise IT vendor announced new support to manage global payments in all types of currency.
IBM is already supporting the transmission of 30 percent of financial messages across the SWIFT (Society for Worldwide Interbank Financial Telecommunication) network.
This apart, IBM said FTM enables banks to converge their SWIFT payment operations onto one payment hub to improve operational efficiency and speed transactions.
IBM’s FTM — an advanced platform to reduce costs, increase transparency and simplify payments procedures — expands delivery of multi-payment, multi-currency platform to deliver speed, security and simplicity to deliver both batch and real time solutions to their clients.
Payments are projected to grow to more than 36 percent of total revenues by 2017 from $1.3 trillion, representing about 34 percent of total bank revenues in 2013.
“Banks face challenges in coordinating the many accounts and multiple bank communication channels that are needed to ensure a seamless flow of money across their global networks. These include excessive costs, process inefficiencies to cash management and related financial operations,” said Keith Melton, director, IBM Commerce Payments.
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