GENEVA, Sept. 26, 2016
/PRNewswire/ -- SIBOS IBM (NYSE: IBM) today announced new
offerings to help commercial banks rapidly provide new services for
customers by using real-time payments. This will allow banks to
take advantage of new immediate payments schemes now in development
across the United States,
Europe and Asia. Once these immediate payment networks
are fully in place, consumer transactions will clear in seconds,
speeding access to funds such as payroll and insurance claims
reimbursements.
When available, IBM Financial Transaction Manager (FTM) for
Immediate Payments1 will support new global
payment initiatives such as The Clearing House (TCH) in
the United States and the
Pan-European Instant Payment scheme in Europe.
The move to immediate payments highlights the transformation
that banks and Fintechs are currently undergoing to become
cognitive banks. One attribute of a cognitive bank is the ability
to provide faster and safer payments, immediate counter fraud and
financial crime detection, and vastly improved and simplified
regulatory compliance.
Combined with IBM Safer Payments, the new version of FTM can
help improve the accuracy and efficiency of fraud analysis in
immediate transactions by using cognitive computing to validate
payment transactions and detect suspicious patterns in real time.
Safer Payments applies machine learning models to help analysts
detect fraud so they can act quickly to reduce fraudulent
events.
IBM today also unveiled a new offering and services to support
the upcoming European Payment Services Directive 2 (PSD2).
According to the directive, which will have a significant impact on
the banking industry, any banks that operate in Europe will need to provide wider access to
their customer data and payment processing systems to registered
third-party providers ranging from traditional banks to app
providers. This happens in the form of APIs that can expose access
to data and services.
For developers, a new PSD2 API Sandbox built on IBM Bluemix,
IBM's cloud platform, allows them to try out ideas quickly, without
set-up time or costs. IBM is also publishing new PSD2
implementation APIs into the PSD2 sandbox so developers don't have
to start from the beginning when developing new apps. The sandbox
will use API Connect, the industry's first and only API management
platform with an integrated approach for creating, running,
managing and securing APIs in a hybrid deployment.
While APIs represent the basic tools for application developers,
more importantly they represent a new form of business model
innovation, helping create completely new customer experiences.
"For banks to stay relevant they must be prepared to engage in
real-time where and when it's convenient for the customer, on their
device of choice, and using the latest and most accessible
systems," said Likhit Wagle, Global
Industry General Manager IBM Banking and Financial Services. "With
today's announcement, IBM is helping financial institutions prepare
for immediate payments and innovate with the latest APIs and mobile
services while protecting the security and privacy of sensitive
customer data."
For more information on IBM FTM visit:
https://www.ibm.com/commerce/us-en/payments/
For more information on IBM's PSD2 offerings, visit:
http://www.ibm.com/cloud-computing/psd2.html
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IBM External Communications
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directions, and intent are subject to change or withdrawal notice
at IBM's sole discretion. Information regarding potential
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SOURCE IBM