Johannesburg, 18 Aug 2016
Xpertek group company, Sagacious Systems is currently involved in upgrading its SFI 5.2 payment software to the more automated and configurable SFI eVolve throughout Standard Bank.
Standard Bank (also trading as Stanbic Africa) has been using the SFI 5.2 payment solution since 2000 but the upgrade to SFI eVolve will enhance its product offerings and improve client service tremendously. The Web-based application reduces the support burden substantially as it no longer gets deployed at the corporate customer or branch.
Successful upgrades of SFI eVolve were recently implemented in the DRC, Tanzania, Lesotho, Malawi and Zambia and another seven countries will be upgraded in the next four months. Once complete, Standard Bank will have the most advanced and secure payments solution available in the market.
Jabulani Vilakazi - PBB Group IT at Standard bank commented:
"We are extremely excited about the launch of SFI eVolve as it keeps us at the forefront of the payments and clearing industry solutions. As a result, we expect that this new solution will continue to extend our global footprint."
SFI eVolve payment processing hub is an electronic payment switching engine used to process bulk payment files, such as salaries, dividends, service fees, insurance premiums and the like. It is a Web-based, configurable software product that delivers transaction aggregation, processing and distribution functionality to manage all payments from origination at corporate clients or individuals to required destinations from any point where there is an Internet connection available. Used in many banks across Africa and the Caribbean, it is a secure, versatile payment solution with no limitations having the capacity to process thousands of transactions per file and files can be submitted in any format that may be required by the bank.
SFI eVolve consists of two components, namely SFI eVolve Client and SFI eVolve Switch. The client module is rolled out at any corporate where SFI eVolve is used to process payment files to multiple beneficiaries at different banks. SFI Switch refers to the actual processing mechanism that picks up the secure files at the bank for processing of the on-us and off-us transactions.
The use of SFI eVolve increases productivity as processing time is reduced drastically. Better service is provided to clients as errors of processing are eliminated. Payment data is transferred quickly and securely.
Standard Bank needs no introduction in the financial services market. The bank is operational in 20 African countries and SFI eVolve forms part of the range of customised products and services that it offers.
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