Oracle and Unisys Collaborating on Payments Solution

Monday 14 February 2005 13:51 CET | News

Oracle and Unisys will adapt key Unisys payment solutions to utilize Oracle Database10g and Oracle interMedia.

The agreement will extend both organizations ability to deliver a comprehensive enterprise payments solution that helps financial services institutions improve their efficiency, profitability and risk management, elevate customer satisfaction and enhance shareholder value. Banks historically have struggled to determine the true enterprise-wide cost and profitability of their payments operations as most systems manage information around individual product lines, eliminating the ability to aggregate and analyze data. By combining information, regardless of the type of payment or its form, into an all-payments engine and archive, Unisys and Oracle will allow financial institutions to import, capture, store, manage and use transactional data more intelligently. The Unisys solutions incorporate a payment information engine and archive for images and data that can track and use information more effectively across an entire financial institution. As a result, the solutions help banks achieve greater cost and operational efficiencies. The Unisys payment information engine is flexible and configurable, offering a more strategic view of best operating practices to deploy across a company to save costs. The web-based engine can access a variety of external systems and internal image databases, providing complete payment histories. The companion archive provides a comprehensive storage capability that consolidates various types of payments information (both paper and electronic) into a single repository. With the Oracle Database 10g -- which features Oracle interMedia, a tool that allows users to manage multimedia content within the database -- financial institutions can store check images with associated payment data (including related voicemail and email messages) for a complete view of payment transactions. Competing solutions more commonly store images and data in different repositories, requiring organizations to undertake complex and costly integration initiatives to bring all necessary information together, adding cost and complexity to their IT infrastructures. Oracle and Unisys will deliver the new solutions globally, as well as integrate them with offerings from other leading financial services software vendors. The agreement strengthens the organizations leadership in helping banks develop strategic payment strategies that integrate seamlessly with numerous partners and platforms. Unisys is also a Certified Advantage Partner in Oracle Partner Network.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce