ING Bank has selected technology from Covast Corporation to manage the exchange of high volume payments and associated reporting with its largest customers.
The bank will use Covast's eCommunity Builder solution to power its bulk file delivery channel to enable high volume payment initiation, receive reporting information and support other electronic banking needs for customers.
The solution is used as a straight through processing system for payment files coming from the ING customers' ERP-systems. eCommunity Builder performs syntax validation and conversion (Edifact, X12, Swift, XML) and is installed as a server at ING and as a client-application at the ING customer sites.
Daan Scheer, founder and CEO Covast Corporation, says: "eCommunity Builder will allow ING Bank to communicate easily and flexibly with their customers."