Payments system operator BankservAfrica plans to implement Intix Data Management technology to financial institutions' customers located in SA and other African countries.
BankservAfrica will provide the Intix Message Warehouse solution as a cloud-based turnkey solution building on its connectivity hub, the company says.
This will enable financial institutions connected to BankservAfrica to access all of their financial message transaction and long-term archives, including searching, reporting, monitoring and business analytics across various formats and channels, it adds.
BankservAfrica is approaching the financial institutions with the value proposition and existing customers of the service bureau will have the opportunity to opt for the new service as an additional component to the current offerings, says Martin Grunewald, CEO at BankservAfrica Integrated Solutions.
The Intix technology will ease the adoption of emerging cross-border payments practices and platforms, says Marc Braet, CEO at Intix.
Outside of the service bureau offerings, the African financial community will be able to acquire this technology through BankservAfrica to implement and operate independently in-house.
"We are delighted to add Intix to our portfolio so as to enable our financial institution customers to obtain increased visibility on their financial flows," said Grunewald. "By integrating Intix, BankservAfrica brings more value to the market which is extremely welcome by our clients."
According to Grunewald, in the continuously evolving financial landscape, the financial community is facing many new challenges and data has become their primary asset.
This poses a challenge to get a consolidated view on the entire value chain across the different data silos and systems, he adds.
As such, easy and fast access to all their transaction data provides a competitive advantage and improves many layers of operational efficiency, he says.
"Through enquiries, conversations and engagements with the financial services community, we have identified the requirement that these different institutions need to be serviced in diverse ways."
As such, the offering will give financial institutions the opportunity to subscribe to the solution in either a software-as-a-service model, opt for a local in-house implementation or a full business process outsourcing.
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