Commerzbank chooses Clear2Pay payments platform
Commerzbank is to deploy Clear2Pay’s Open Payment Framework as a central platform for end-to-end XML-processing and to interface with new technology and products.
Commerzbank will implement OPF as part of a longer term strategic payments renewal project for its clients in and outside Germany. The project will be implemented in phases, with the first go-live planned by the end of this year.
Christian Rhino, divisional board member group banking operations at Commerzbank said: “For us as a major player in the payments industry, it was important to work with a technology partner who could offer both a proven payments solution as well as a fundamentally strong strategic roadmap around payments. In Clear2Pay we found just that plus the proximity and cultural fit that will be of vital importance for a smooth and timely introduction”.
Michel Akkermans, chairman and chief executive of Clear2Pay said: “We recognize many banks want to combine a strategic payments modernisation project with a rapid return through a phased transformational approach. We believe in longstanding partnerships and are delighted to count Commerzbank amongst our client base. We look forward to working with them in the spirit of this ‘new reality’, offering tactical solutions, agile and efficient technology without diluting the strategic benefits of the service oriented architecture and roadmap they aim for long term.”
The deal was formally announced at the EBAday conference in Berlin at a signing with Akkermans and Thomas Egner, a director of transaction banking at Commerz.