Simplex Consulting will integrate Vortex, and Touchstone into its âPAYSâ solution (Payment Administration System). PAYS delivers a number of key offerings that have proved to be of enormous value to corporate entities. Cash and Liquidity Management, Risk Management, Reconciliations and Payment Processing, including SWIFT. are fully integrated and delivered through the outsourced platform which also operates a pay-as-you-use cost model.
Simplex boasts a broad, yet top tier client base. With strategic outsourcing relationships including Royal Bank of Scotland and a growing number of the banksâ corporate and financial institution customers now using PAYS, Simplex concentrates its efforts on enhancing the platformâs functionality. Petraâs products are directly in line with these aims.
Philip Walsh, a Director at Simplex Consulting comments, âWe have always differentiated our offering through a greater understanding of our customerâs needs. With fully integrated functionality, PAYS brings flexibility and value to communications between corporate and bank. We see Petra Financialâs solutions as adding great value to PAYS, and apart from the clear business benefits, the emphasis on design and usability will make adoption and use much easier within banks. Making sure that payments messages are accurate at the point of initiation saves a great deal of time and cost in the process, and of course enables much higher rates of STP. Adding the Touchstone payments initiation really complements to what we can deliver to our clientsâ.
David Sinclair Petra Financial CEO comments, âOur agreement marks a new sphere in our growth and underlines the benefits of the simplicity and value that we bring, especially in these challenging times. All of our solutions are designed around the user interface and to deliver value from day one under commercial terms that offer flexibility to our customers in managing budget constraintsâ
John Burton, Marketing Director of Petra Financial further commented, âSimplex Consulting has been a stalwart partner for a number of well known banks in Europe through its SWIFT Service Bureau, and its PAYS service. Simplexâs philosophy of providing simple to use, yet compelling solutions to real business issues aligns very well with Petra Financialâs ideals and objectives.â