SA's largest bank has appointed Xpertek to upgrade its existing payment switch (SFI) to Xpertek's new payment execution system, SFI eVolve. This global bank, with African roots, plans to rollout the new product to 15 countries in Africa.
At the end of 2008, Xpertek had already embarked on the development of its new generation payment switch, SFI eVolve, and after being approached by the bank, undertook to further enhance the SFI eVolve solution to cater for the bank's specific project requirements for the processing of domestic automated payments.
Through the use of Xpertek's system, all payments originated by the bank's clients and branches will be brought to one central point for processing and passing on to the banking system and the relevant clearing houses.
Originating systems receive response messages regarding the status of payments and human intervention in the payment process is eliminated, resulting in secure, encrypted, straight-through processing. The Xpertek system will be rolled out to 15 countries in total, the first country to benefit being Uganda, which is scheduled for September 2010.
The new SFI eVolve system has significantly broader functionality and improved processing power than the SFI payment switch used successfully for many years by this JSE-listed bank. The system can port to Oracle database, and Xpertek has further plans to port the system to more databases eg, MS SQL server. Xpertek will also redevelop the Secure Cheque component of the payment switch onto the SFI eVolve platform.
SFI's Business Manager, Brandon Madgwick, had the following to say: “We are delighted to have been given this opportunity by the bank. It shows their confidence not only in our solution, but also in our ability to deliver and support a massive African-wide roll-out of SFI eVolve. We are pleased that our vision for the single processing engine is starting to take shape!”
For further information about Xpertek's new SFI eVolve solution, kindly contact Brandon Madgwick on 011 519 3000 or log on at http://www.xpertek.co.za.
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