Payments and Settlements

Improving the visibility and agility of payments systems in clearers, all other banks and corporates is no longer an option: it is a necessity. It is now a mandated regulatory requirement that UK banks ensure Faster Payments with next day rather than 3-day clearing. And from now through to 2010 banks also need to fully implement the provisions of the Single Euro Payments Area.

Meanwhile corporates are looking to rationalise their multi-bank relationships and achieve a single centralised payments system. These challenges and opportunities, along with mandated changes under SWIFTNet Phase 2, ATM and POS re-platforming, and new scope in leveraging real-time payments information to drive better liquidity, CRM and supplier management all combine to put the spotlight on Payments as never before.

There is almost too much happening today in the world of payments, not only in direct money transfer between banks and changes to payments gateways, but also in card transactions, in migration to SWIFTNet Phase 2, in new corporate-bank relationships, and in developments within the regulatory frameworks themselves.

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The fast-approaching deadlines for Sepa compliance means the payments businesses of banks in Europe, and the clearing and settlements infrastructure at large, all face extensive economic implications. Clearers and all other banks, as well as corporate treasury departments have to make far-reaching decisions about their business strategy and IT infrastructure.

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Oracle has created a strong portfolio of payment solutions through the acquisition of Siebel, Mantas, i-flex and PeopleSoft. We also have forged powerful strategic partnerships with payments specialists such as VocaLink, Distra and Eiger, whose experience and proven solutions offer leading-edge technologies and services to clearers, other banks and corporates. This amounts to a uniquely comprehensive range of solutions across the whole payments cycle.

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Oracle Payments is a complete payment and receipt processing solution that enables efficient, reliable and secure financial transactions. It is the central payment engine for Oracle E-Business Suite that lowers costs and improves control by integrating out-of-the-box with major processors and financial institutions.

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