Banks are turning to global wholesale payments vendors to support straight-through processing via real-time information and greater payments data.

Boston, MA, January 21, 2010 – A new report from Aite Group, LLC examines the opportunities and challenges financial institutions face in responding to business clients' demands for straight-through processing (STP) of wholesale payments. The report profiles off-the-shelf payments solutions offered by seven leading global payments technology vendors, and evaluates them on a number of criteria: deployment environments, number and geographic reach of deployments, technology used, types of payments supported, and strength of functionality.

Corporate treasurers, who are responsible for these functions, are increasingly demanding greater efficiency from payments through STP, and improved visibility of payments status in real-time or near real-time. Treasurers rely on their financial institutions to provide the necessary functionality, but these financial institutions typically fall short; financial institutions maintain a plethora of systems for individual payments types, some of which are redundant due to past mergers and acquisitions remaining unconsolidated. Combined with the increased need for regulatory compliance, fraud prevention and risk management, financial institutions may find that outsourced technology provides the necessary solution. Even the largest global financial institutions are embracing vendor-provided solutions for global wholesale payments.

"While the largest financial institutions once perceived their in-house, proprietary systems to be differentiators, banks of all sizes are now embracing open standards," says Nancy Atkinson, senior analyst with Aite Group and author of this report. "The model is changing from the system itself offering distinguishing characteristics to rules-based configurations that provide financial institutions and their clients with the ability to customize vendor offerings without coding changes."

This report analyzes the off-the-shelf payments solutions offered by seven leading global payments technology vendors: ACI Worldwide, Clear2Pay, Dovetail, Fundtech, Logica, Misys and SunGard.

This 80-page Impact Report contains 22 figures and 14 tables. Clients of Aite Group's Wholesale Banking service can download the report by clicking on the icon to the right.

Related Aite Group Research:

• Global Wholesale Payments Trends
• Procurement Cards: A Dormant Opportunity
• Banks, Get Linked to Global Supply Chain Automation
• Demystifying Payments Hubs

To purchase this report or
for additional information,
please contact:
Aite Group Sales
Tel: +1.617.338.6050
sales@aitegroup.com