Absa is integrating Petra Financial’s Payment Management System, Touchstone.
The key point highlights Touchstone’s functionality and benefits: developed for easy use and simple to integrate technology that delivers increased STP rates when integrated into payments systems, enables the creation of messages with a minimum amount of information can then enrich and validate data, ensuring that the payments message is complete and accurate Touchstone will be integrated in Absa in Johannesburg so that SSI and routing information is checked, validated and enriched.
Petra Financial launched early this year and has signed six new clients already for the new solution including Clydesdale bank, CaxtonFX and First National Bank of South Africa.
“Touchstone will integrate with our payments system and deliver enriched data where we need it and ensure that the payments data is correct,” says Sean Moulton, portfolio manager Absa group operations IT. “Overall, the project will deliver operational efficiencies and cost containment for Absa through error reduction and increased STP rates.”
D.C.