Fides Treasury Services is integrating corporate payments capabilities into its offering.
The company announced Thursday (Oct. 5) that it is launching EFT Web, a platform for corporate treasurers to execute and manage payments. The solution supports payment files of any format, Fides said, and supports automation while providing added security for these transactions.
The platform was built on ISO payment messaging standards, which, according to Fides CEO Andreas Lutz, are “very high and present a lot of challenges for treasury teams.”
“By starting with the most difficult issues, we were able to create a solution that would be highly versatile and therefore highly useful for corporate treasurers,” the executive said in a statement. “With the release of the new EFT Web payments solution, we have given the market highly sophisticated capabilities [that] are also extremely flexible and easy to use.”
The payments solution supports single and bulk payment file management, customized reporting, integration with treasury management systems and ERPs and performance enhancements to improve handling of high account volumes and processing times, according to Fides.
“Corporations want their payments executed on time and at low cost,” added Lutz. “What they don't want is to set up proprietary bank interfaces, worry about data breaches or evaluate connectivity options on their own. Now, with the availability of Fides EFT Web Solution, they don't have to. Our highly integrateable, single platform can process payments of all formats through the optimal channels to the corporation's global banking partners.”
Fides' new solution was announced the same week the EuroFinance Corporate Treasury Network released new research on corporate treasurers and their demands for technology. That report found that while corporate treasurers don't necessarily need real-time payment capabilities, they do need real-time tracking of payment processes, with companies with turnover under $1 billion showing the greatest interest in this capability.