Science & Technology
Science and Technology
Science and Technology
Tue, October 26, 2010
AMSTERDAM--([ BUSINESS WIRE ])--HP (NYSE:HPQ) today announced the successful integration of global financial messaging and transfer solutions for simplified, secure payments processing at Standard Chartered Bank, a leading London-based international financial institution.
"Financial institutions are under constant pressure caused by compliance mandates, new regulations, mergers and global economic conditions"
HP and Software Integrators, a London-based company specializing in the development of financial message and payment solutions, have partnered to provide clients with a comprehensive payments hub.
The payments hub offers benefits to global financial institutions of all sizes:
- Reduced risk through real-time integration and high-availability software and hardware
- Separate systems from changing business and technology requirements
- Ability to bridge disparate and incompatible legacy systems and networks
aWith a global payment business to support, we needed a robust and flexible operating model to help drive efficiencies and provide us with a platform for growth,a said Sham Arora, head of Technology Solution Delivery, Core Banking, Cash Management, Clearing and Messaging at Standard Chartered Bank, which has its strongest markets in Asia, Africa and the Middle East. aWe chose Software Integratorsa™ solution for its proven track record in this area combined with HPa™s strong Integrity NonStop platform.a
The ability to efficiently send and receive financial messages is a vital part of daily bank operations. Banks are continuously challenged to provide higher service levels in a highly competitive and regulated environment. As a result, the consolidation of the payments infrastructure and streamlining of payments operations are becoming increasingly critical.
aFinancial institutions are under constant pressure caused by compliance mandates, new regulations, mergers and global economic conditions,a said Andrew Orent, worldwide director of Banking and Capital Markets for the Financial Services Industry organization at HP. aHP helps reduce that pressure by automating complex payment operations so clients can focus their attention on competing on a global scale.a
The payments hub from HP and Software Integrators also uses STAR Message Processing software and the COPE Integrated Payments System, both built on [ HP Integrity NonStop servers ]. STAR and COPE serve as the central control point for a globally integrated payments database, real-time monitoring and reporting, and payment processing. HP NonStop software and [ HP Services ] round out the payments hub solution.
More information about HPa™s payments solution is available at [ www.hp.com/go/payments ]. Additional information about HP solutions for the financial services industry is available at the companya™s SIBOS booth A621 or at [ www.hp.com/go/fsi ]. More details on Software Integratorsa™ products running on HP Nonstop platforms are available at [ www.software-integrators.co.uk ].
About HP
HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. The worlda™s largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure to solve customer problems. More information about HP is available at [ http://www.hp.com ].
This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, includingbut not limited to statements of the plans, strategies and objectives of management for future operations; any statements concerning expected development, performance or market share relating to products and services; any statements regarding anticipated operational and financial results; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include macroeconomic and geopolitical trends and events; the execution and performance of contracts by HP and its customers, suppliers and partners; the achievement of expected operational and financial results; and other risks that are described in HPa™s Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2010 andHPa™sother filings with the Securities and Exchange Commission, including but not limited to HPa™s Annual Report on Form 10-K for the fiscal year ended October 31, 2009. HP assumes no obligation and does not intend to update these forward-looking statements.
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