Hamburg Commercial Bank has gone live with Broadridge’s Payments-as-a-Service (PaaS) in an effort to enhance its international payments processing for corporate clients.
The cloud-based platform, designed by Broadridge and software consultant company PPI AG, combines PPI AG’s core payments processing platform and Broadridge’s messaging and transformation service.
Providing straight-through processing and the resolution of processing exceptions, the PaaS has the ability to capture new revenue streams, enhance the quality and range of client services without capacity or resource constraints, while ensuring adherence with regulatory changes.
The operating platform already includes necessary TARGET2 MX and SWIFT MX enhancements, while subsequent phases of the project will add a service for Single Euro Payments Area (SEPA) payments and SEPA instant payments.
The platform is hosted in Broadridge’s European data centre and is available on a shared services basis.
Broadridge’s business process outsourcing team will handle exceptions and customer enquiries, supported by purpose-built ticketing and customer service applications.
Commenting on the PaaS, Samir Pandiri, president of Broadridge International, says: “To address client processing requirements and support the industry with the evolving regulatory and market infrastructure landscape, we have made a significant investment in building out our payments architecture and operating model.”
Thorsten Völkel, CEO of PPI AG, comments: “Through strong partnership across the three parties, we have delivered a significant phase that will bring tangible benefits through greater processing efficiency and risk mitigation, scalable client-centric services and support for a fast-track response to forthcoming change requirements.”
