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Payments Convergence

Software Earnings has developed Payments Convergence strategy to support a three-level approach to payments convergence. This strategic approach provides large financial institutions (LFI) with flexible options to integrate with their respective in-house strategies. 

 

The three strategies also serve as a series of evolution steps, allowing LFIs to gradually phase in an overall payments convergence infrastructure.

 

Payments Convergence strategy includes:

 

1) Payments Common Services

This allows Payments Navigator to serve as a single infrastructure to current payment channel silos, taking advantage of centralized, common services.

 

2) Payments Aggregation

This strategy involves a centralized consolidator, which collects the balanced data streams from the various payment channel silos and distributes the transaction data to the various core applications: general ledger, posting, installment loans, A&R, CDA, etc.

 

3) Payments Hub

This solution will collect, perfect, and distribute payments from multiple channels. The payments hub is a SOA infrastructure that allows customers to compose work flows that use common services for any payment type.