South Africa's Standard Bank has contracted with LogicaCMG for the supply and implementation of a consolidated payments system at its corporate and investment banking operations.
LogicaCMG will replace a global legacy payments infrastructure at the unit with a consolidated platform based on its All Payments Solution (Laps) High Care offering.
Laps High Care is a component-based payments system specifically designed to be highly-configurable and rules-driven, says Logicacmg. The technology is designed for payments with a risk profile such as high value, wholesale payments which require a high level of flexibility.
The vendor says the new system will provide the bank with "centralised risk and payment management processing flexibility at a reduced cost".
Standard Bank says the LogicaCMG technology will support a gradual migration of its existing legacy systems "whilst providing the ability to deliver high quality processes and consistent standards across the group".