LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
The B2 Group, a provider of cloud-based payments, FX and funds software, announced today the release of the next generation version of PayEX, a payments execution application for cash and treasury management.
PayEX integrates with existing bank IT architecture environments and coexists with incumbent systems such as OMS and core banking applications. PayEX is one of the transaction processing modules that integrates with the B2 GTS technology platform and provides a user interface for monitoring and managing payment processing to single or multiple banks and is geographically independent.
“Investment in our product suite is essential for B2 to keep pace with market demands. The release of PayEX-HP demonstrates our commitment to meet the requirements of our banking and corporate customers, particularly those who have a need for very large transaction volumes with maximum performance. We worked with information assurance specialist NCC Group to conduct performance testing and to confirm that our robust architectural approach met best practices to provide further assurance to our clients”, comments Phil Boland, CEO, The B2 Group.
PayEX enables banks to:
- Collect payment instructions from any OMS;
- Validate and enrich payment instructions from a central point
- Automatically group instructions and route to multiple core banking systems according to transaction type
- Handle multiple file formats and exchange protocols;
- Access a granularity of transaction types within instructions, debits and credits;
- Efficiently manage complex suspense account functionality.
PayEX-HP is optimised to handle large transaction files with a high performance. NCC Group conducted performance testing against a wide range of business scenarios, including:
- For individual large payment files of 400,000 plus transaction; over 200 transactions per second, processed end-to-end with interfaces between core banking system and OMS;
- For large numbers of smaller payments files processed in parallel; over 1,600 transaction files per minute, processed end-to-end with interfaces between core banking system and OMS.
“B2 Group turned to NCC Group for an independent verification of the PayEX-HP. We applied stringent criteria in our software testing environment to rigorously test the performance of the product under high volumes of transactions and also conducted an architectural review to assess the use of design best practice.” John Mundell , Group Sales Director NCC Group.
Existing users of B2’s PayEX application can continue to operate business as usual. The need to upgrade to the PayEX-HP version will only be relevant for users who have high transaction volumes and seek peak performance for their payments processing.