Clear2Pay, a vendor of next-generation payment solutions for financial institutions, has announced that the Standard Bank of South Africa has chosen Clear2Pay's Open Payment Framework as part of their international and domestic online payments solution for corporate clients.
The new solution will deliver common middle office payment services to online client channels for the receipt and processing of client instructions. These services include validation, authorization, risk assessment and exception handling related to the relevant payments and collections.Dipak Patel, global head of transactional products and services at Standard Bank, said: "We conducted an extensive search of the market and chose Clear2Pay for a number of reasons - the technology, the people and their approach to partnership. This partnership has ensured that the Open Payment Framework with the Bank Payment Hub solution is now a very flexible platform that can easily be extended to meet our future requirements."
