2nd Oct 2007 17:50
LogicaCMG, a major international force in IT and businessservices, has delivered LAPS High Volume, a full featured Single EuroPayments Area (SEPA) compliant payments platform for a major Europeanbank. The system was delivered and customer testing commenced in June2007, well ahead of the 2008 SEPA deadline. £ This early delivery will allow the bank to complete itscomprehensive testing and integration with its own systems in a timelyfashion. This enables the bank to go to market with a SEPA capabilityahead of its competitors, facilitating the capture of new businessfrom the emerging SEPA payments market. £ The system provides full support for all requirements defined bythe SEPA rulebooks - both for SEPA Credit Transfers and SEPA DirectDebits. LAPS High Volume offers EBA STEP 2 and other European CSMconnectivity as well as multi-bank capabilities which provide a soundplatform for the provisioning of Additional Optional Services (AOS). £ Scalability of the new platform is crucial when full SEPAmigration is completed by the end of 2010. Banks need to be sure thattheir SEPA solution scales in line with the business volume predictedfor SEPA. LAPS High Volume has been benchmarked at sustained rate of20 million transactions per hour to fulfill this need. £ Jerry Norton, director strategy, global financial services atLogicaCMG commented: "The imposition of SEPA and the standardizationthat it brings provides a clear opportunity and a business case forthe rationalization of retail payments processing. This allows theretail payment business to catch up with the rationalization ofwholesale and international payments processing which has beenunderway for some years. LogicaCMG now has an offering in LAPS toaddress all payments processing irrespective of the value, source ortype of payment." £ About LogicaCMG £ LogicaCMG is a major international force in IT and businessservices. It employs around 40,000 people across 41 countries.LogicaCMG's focus is on enabling its customers to build and maintainleadership positions using LogicaCMG's deep industry knowledge and itstrack record for successful delivery. The company provides businessconsulting, systems integration and IT and business processoutsourcing across diverse markets including telecoms and media,financial services, energy and utilities, industry, distribution andtransport and the public sector. Headquartered in Europe, LogicaCMG islisted on both the London Stock Exchange and Euronext (Amsterdam)(LSE:LOG; Euronext:LOG) and traded on the Xternal List of the NordicExchange in Stockholm. More information is available atwww.logicacmg.com. Copyright Business Wire 2007Related Shares:
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