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World Global Technology Payments Hub
A straight through payments solution pre-integrated with our core platform.
Payments made easy.
World Global Technology Payments Hub simplifies payment flow management so banks can focus on their core business. No more hassle with software and hardware infrastructure; we handle it all for you !
What are the problems ?
Many legacy core banking system providers do not view payments as an integral part of the solution and often require integration of 3rd party payments' hub provider to enable practical use of their core. This approach ignores the fact that payments is the single most important part of the customer experience, as well as a key driver of costly manual banking operations and administration.
Risk & Complexity
Integrations with off-platforms payment systems take time and resources away from your core mission which is to provide a seamless customer experience.
Integrations can take months or years to implement and are not proofed against future changes in the payments landscape.
Inability to adapt to new payment methodologies and schemes such as Samsung, Apple, Google Pay and also crptocurrency or alternative currencies.
Speed to Market
Automation and real-time straight-through processing and reconciliation are generally not available and manual intervention is common.
Integrations with 3rd party payment hubs are costly and resource intensive. Revenue models are generally fixed price and are far too expensive at lower scales.
Payment service providers drive revenue via information inequality, lack of transparency on fees, scheme charges and capabilities.
"WGT Payments Hub helps banks easily transition toward PSD2, GDPR and Open Banking."
How does World Global Technology Payments Hub solve these problems ?
We bring a pure play digital, cost-efficient, real-time and mobile-focused payments solution pre-integrated with our core bank offering to the market.
World Global Technology Payments Hub comes loosely coupled but pre-integrated with our banking platform saving you time and money on implementation.
Full real time straight through payments internally and externally with routing to Swift, SEPA Nostro, Vostro, Correspondent Bank and Payments Bureau via ISO 20022 messaging.
Creation of exception events for further scrutiny, e.g. unpaid item, overdue payment and route these to predefined actions, queues and workflows via event based messaging.
Value and Return on Investment
Because the platform is pre-integrated with the core, the only fees and costs payable are to the schemes and service provider (correspondent, bureau) providing low base costs for lower volumes and high discounts for scale.
Secure & Compliant
The Payments hub implements the same security model as the core bank with Role Based Access Control (RBAC)), instant visibility of actions, 4-eyes supervision and limits management. Simple and straightforward management interfaces with intuitive logic.
Flexible & Scalable
The platform can be extended to manage direct scheme integrations and easily copes with changes in the payments ecosystem (regulatory, fees, charges, new payment options). The Hub scales by replication and inter hub reconciliation allowing massive scalability.
How we deliver
The World Global Technology platform is full stack, meaning it’s a standalone, fully integrated suite of back-end, middleware and front-end services and applications. It is modular by design so applications can be plugged in as you need them. In effect, it is a new start with a new bank, unattached to legacy system issues.
World Global Technology boasts an extremely broad range of system integration and consulting partners, bringing you choice and a deep pool of experience to help with your system migration.
Cloud or On-premise
Our Core Banking system can be deployed on-premise or in the cloud.The choice is yours. The economics of the cloud means you can pay as you grow and only pay for the space you use.
The World Global Technology Core Banking platform is modular, allowing for progressive innovation build/migration strategies, which dramatically reduces risk and speeds up time to market.
We’ll look after upgrades, maintenance, platform compliance, servers, storage and all the other areas that detract from your day job. Which leaves you free to build great customer relationships through an excellent data-driven financial platform.
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