As part of this agreement, FSS will provide integration and hosting services for Oracle’s Oracle Banking and Payments solutions. FSS will also extend customised solutions to address the corporate and retail payment needs of the banking industry.
The two companies plan to meet the needs of banks with a centralised payments system that supports real-time payment processing and straight-through processing for cross-border transactions. This collaboration will enable banks to execute digital payment strategies, using an open retail and corporate payments’ solution. This will help banks to integrate payment processing, implement regulatory changes, reduce corporate disputes related to payments, and enable SWIFT GPI initiatives for real-time global transactions.
Oracle Banking Payments is a payment processing solution that unites disaggregated payment operations in a common shared payments service infrastructure. The solution is comprised of three components: core processing, messaging and connectivity.
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