Home > Industry Solutions > Banking & Finance > PSS > Payment Hub Management Services
 

Payment Hub Management Services

 

Now offering 1st in India, a unique Payment Hub Management Service designed to ease the complex management of your Payment systems.

 Introduction

Over the recent past, Banks and Financial Institutions are restructuring their Payment Systems to adapt to a rapidly changing environment. Most of the challenges faced by banks today include regulatory and security requirements, aging technology and the desire to enter new payments markets such as remittance payments India.

As financial institutions examine their existing payments infrastructure, they often find it overly complex, rigid, and outdated given the demands of today and tomorrow. Existing systems often lack the flexibility required to accommodate change. Cost-effective modifications to payment components, required by changing markets, are not possible in the current framework.

The introduction of a Payment Hub into a bank’s existing payments infrastructure provides both the flexibility to support future changes as well as the reusability of existing infrastructure components. A Payments Hub turns a silo-based infrastructure into an Enterprise Payments solution, through a process of managed migration.

Payment infrastructures need to support new initiatives such as the Next Generation RTGS/NEFT (ISO 20022), Single Euro Payments Area (SEPA), Pan-European ACH (PEACH), and UK Faster Payments. Adaptation to new regulatory and risk management practices (OFAC, AML, IBAN Validation) need to be made in one location and apply to multiple payment types to save both the cost of initial implementation and future maintenance.

A Payment Hub is the solution for migrating to a robust, future-proof payments infrastructure. Rather than connecting each individual Customer Interaction Channel to each Payment Execution System, the Bank Payment Hub sits in the middle of the payments infrastructure like the hub of a wheel. The Payment Hub is responsible for receiving instructions from each interaction system, performing a pre-defined set of business steps based on the type and origin of the instruction, and formatting and routing that instruction to the appropriate execution system.

 Service Framework

Omnitech through its deep industry exposure and domain expertise has developed a unique Payment hub management service to help you gain faster go to market and efficient business processes. Based on our a blend of domain expertise and proven technology skills, our Payment Hub Management services (PHMS) converge with our broader capabilities in Managed Services. Thus, it provides us the much required impetus for managing banks and financial institutions payment systems and transforming their payments business.

 Service Packages

As payments increasingly get electronic, the need for a consolidated Payments Hub is inevitable. Currently, banks manage these disparate systems in silos and as such management of these systems is done by the DIT (Department of Information Technology) of these banks at multiple locations and under the guidance of multiple users.

With the view to consolidating these payment systems under the DIT and having a single management contact and contract, Omnitech has introduced this Payment Hub Management Service.

Our initial offering under the Payment Hub Management Services is based on the fact that the payment systems may be at various stages of getting to the hub model. Whatever be the stage, our Payment Hub Management Services are agile enough to fit the setup.

The key features of our offering are -

  • It covers all message based electronic payment systems including the messaging platforms
  • The services are tiered to cater to installations of every size
  • Services include support for compliance to standards set by all agencies (RBI, IDRBT, CCIL, SWIFT, etc.)
  • Help desk facility available for ad-hoc queries related to technology and solutions

Our Payment Hub Management Services (PHMS) are available under 5 different options, based on analysis of services required across the wide spectrum of our relationships.

Services Platinum Gold Silver Bronze Regular
Full time resident engineer onsite
Re-installation / Re-location of Systems
Upgrade / Release Management
Performance Management of Services
Single Point of Contact
Unlimited Onsite visits by technical experts, if needed
Technical Expertise support from offsite
Unlimited Onsite support for all Critical, High, Medium severity issues *
First level support from offsite (phone / email)
Regular Preventive Maintenance and System Health Checks
Assistance in D.R. Drills by technical experts
Only Telephonic Support
Site Vists, if needed, will be charged
 Value Preposition
 Benefits
 

Partner Us
 
 
Brochure Download
Corporate Brochure
 
Related Links
 
 
 
 
 
 
 

About-Omnitech Industry Solutions Services Investors Careers Contact With Us
Profile Banking and Finance Managed Services Investors Home Careers Global Presence
Our People Manufacturing Application Services Reports & Filings Opportunities Enquiry
Our Partners Retail Delivery Models Corporate Governance Investing in employees Privacy policy
Advantage Omnitech It/Ites Business Continuity Services Faqs Why work at omnitech Disclaimer
Copyright © 2012 Omnitech InfoSolutions Ltd. All Rights Reserved.
Best viewed in IE 7 and above.