Semi-open Application Framework
We partner with Dovetail to provide a payments platform that supports low-value, high-value and cross-border payments with interfacing support for Automated Clearing House (ACH), Real-Time Gross Settlement (RTGS), SWIFT and more.
According to Gartner, a semi-open framework approach like Dell's is best suited for most banks. Our Payments Systems Transformation solution employs software and process and provides standards, governance, operational efficiency and flexibility. The framework is highly componentized, targeting functional gaps in each customer's unique transformation. Customers get the best of both worlds by leveraging assets they own, yet obtaining time and cost advantage with selected solution accelerators that are pre-integrated to work together in the framework.
Among the transaction services capabilities covered by the framework are:
- New customer setup and configuration
- Receipt and storage of payments and payment files
- Payment validation
- Item processing and exceptions handling
- Routing of payments and payment files
- Clearing and settlement
- Posting and reconciliation
- Payments tracking and status reporting
- Risk management ― fraud and compliance, such as with Office of Foreign Assets Control (OFAC)
- Fee calculation
- Payments personalization
Dell and Dovetail