Press Release
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Software solution ‘FrontCollect for SEPA’ enables error-free SEPA transactions
- Increases competitive advantage with streamlined, automated business processes
Berlin, Germany. 1. October 2007 – Beta Systems Software AG, a provider of
high-quality software products and solutions for secure and efficient document management, today
announced the immediate availability of its new solution, FrontCollect for SEPA. This automatically
processes receipt-based payments such as debits and credit transfers in the Single Euro Payments
Area (SEPA). Using FrontCollect for SEPA, financial institutions create the technical conditions
necessary to ensure compliance with regulations governing payment processing. During the software
implementation, a bank’s current international payment processes can be verified, automated and
streamlined and its legacy systems integrated. The result is tangible cost savings and competitive
advantage.
SEPA heralds the introduction on 1.1. 2008 of a Europe-wide monetary transaction market for
cashless national and international transactions. For financial institutions, this will mean
far-reaching organizational and technical changes. The implementation of SEPA regulations poses a
challenge for banks’ IT systems at a time of increasing competition in the financial services
market. IT systems must be set up to deal with SEPA transactions so that the new procedure can be
leveraged for the bank’s own competitive advantage.
FrontCollect for SEPA starts by reading the SEPA remittance slip, then digitizes and
processes it. The solution can also handle the forthcoming SEPA Direct Debit payments. It checks
and verifies the data generated electronically before transferring it automatically to downstream
systems such as book entry and archiving systems (e.g. Beta Systems’ EBS 20) for processing or
storage. The automation, and subsequent streamlining of the processes involved, generates cost
savings which benefit customers, new services and products. A significant advantage of FrontCollect
for SEPA is that is does not need programming, only configuring. As a result, there is no need for
expensive restructuring during the system integration. It also reduces administration and
modification work after the initial installation. In the transition phase, standard inland, EU and
SEPA money transfers are processed quickly, efficiently, and securely.
Electronic processing ensures error-free payment transactions
As it automates and standardizes the business processes involved, FrontCollect for
SEPA enables error-free payment transactions and reduces manual work to a minimum. The result is a
significantly higher level of data quality. The software delivers excellent results in payment
transactions due to its high recognition rate when digitizing remittance slips; its high-speed
processing; and its high process quality. FrontCollect for SEPA can also process a variety of
different data formats, providing an important advantage when data is being captured in a
decentralized way and transmitted electronically.
In addition, FrontCollect for SEPA offers detailed receipt processing in individual
steps. Tasks like plausibility checks, corrections to field content, and signature
verification can be tailored to a customer’s specific needs by Beta Systems and integrated into the
payment processing system.
-- Ends –
Beta Systems Software AG (Prime Standard: BSS, ISIN DE0005224406) develops high-profile software products and solu-tions for the secure and efficient processing of large data volumes. Beta 4Agility products are geared towards the business processes of companies and facilitate the automation of data and document processing, while taking account of Identity Management and ensuring compliance in corporate IT.
The company was founded in 1983 and has been listed on the stock exchange since 1997. Beta Systems employs over 600 people, mainly in the company’s headquarters in Berlin as well as in the Augsburg, Cologne and Calgary Centres of Competence. In addition, Beta Systems has 17 subsidiaries worldwide and cooperations with numerous partner companies. With more than 3,000 active installations, it has a customer base of more than 1,300 major companies from financial ser-vices, industry, trading, logistics and the IT service provider sector.
More information on the company and its products can be found at www.betasystems.com.
Press Contacts
Corporate:
Beta Systems Software AG
Thomas grosse Osterhues
Senior Manager Marketing Communications
Beta Systems Software AG
Tel.: +49 (0)30 726 118-570
Fax: +49 (0)30 726 118-881
Email:
thomas.osterhues@betasystems.com
PR Agency:
HBI PR&MarCom GmbH
Alexandra Osmani, Alexandra Janetzko
Tel.: +49 (0)89 99 38 87-37 or 87-32
Fax: +49 (0)89 930 24 45
E-Mail:
alexandra_osmani@hbi.de;
alexandra_janetzko@hbi.de
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