TIS, which helps companies control commercial payments and cash flows, rolled out its Enterprise Payment Optimization (EPO) offering, according to a Wednesday (June 9) press release.
EPO, which is geared toward outflows and the information that comes out of those transactions, lets organizations ingest and control live cash flows and data. It serves as an orchestration layer to help with plans of action for finance, business transformation and productive teamwork throughout an organization.
To that end, the EPO infrastructure works as a multichannel, global and multibank connectivity environment for payments. The system provides functionalities for safety, compliance, cash management and account management.
The EPO platform works with different financial messaging protocols and offers a collection of payment formats that are continually revised, according to the announcement.
Information that is controlled and kept on the system offers the foundation for keeping a watch over liquidity and working with cash outlooks in addition to “supporting the information needs of finance, risk, compliance, and management,” according to the announcement.
“The TIS EPO platform goes beyond just delivering the information needed for companies to perform better; it also provides the foundation for a best-of-breed solution set that helps businesses sunset legacy platforms and take advantage of next generation technology,” TIS CEO Erik Masing said in the announcement.
The news comes as Deutsche Bank and TIS will be entering into a strategic relationship to work on multibank issues.
The concentration is on “new and innovative products & services combining the complementary capabilities and skills of an experienced payment platform provider with the expertise of a global corporate bank,” according to a March announcement.
TIS landed $20 million in further funding headed up by Aquiline Technology Growth. The funding round also included participation from 83North, as per news in May 2020.
At the time, it was noted that the company plans to harness the new funds to keep accelerating product development and expand U.S. in addition to European operations to meet growing global demand.
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