Comarch launches UK host-to-host banking for corporates
Polish IT specialist Comarch has launched a host-to-host banking solution designed to allow corporates to issue bank instructions directly from their enterprise resource planning software and automate data exchange including payments, balances, transactions orders and invoices.
Banks that have signed up to Comarch’s solution include ING Bank, Raiffeisen Bank and UniCredit. The Comarch service is not deployed at the bank itself, but rather is offered by the bank to its customers.
Using the new system, checking the status of a booking and other similar tasks becomes automated. Banks such as ING have their own internal system with the information, but previously clients did not necessarily have the technology in place to automatically receive and store it. Comarch’s tools integrate with ERP software using XML-based messages encrypted to ensure security. The solution includes an advisor portal allowing Comarch or the bank’s administrators to add new ERP solutions onto the platform, manage user rights and the certificates for authorising transactions.
“The biggest benefit for corporate clients is that it helps simplify the daily routine of booking transfers,” said Adam Walendziewski, product manager for cash products, ING. “Some companies use paper processes, printed invoices, and they manually input the information in their ERP systems. Manual work is being done internally, and that’s inefficient. This tool replaces manual work with automation. We also get the benefit of better integration with customers, and it becomes harder for them to leave to another bank if that bank doesn’t offer a comparable service, so it increases customer loyalty.”
ING has said that it is satisfied with the product. The only area for improvement the firm highlighted was the fact that not all ERP systems on the customer side have web abilities, which could mean work has to be done on the customer side to integrate with the new offering.
“Our H2H solution gives business banking customers three great reasons to remain with their bank: it allows them to automate their banking processes, takes the pain out of mass transactions such as payroll and invoicing, and delivers real savings,” said Jonathan Withers, director of banking, Comarch UK. “We know are a new challenger here in the UK, so we have built up NATO-certified security, because we know that retail-level security for corporates is not good enough.”
Withers added that the firm has brought expertise from different industries such as healthcare, insurance and capital markets together to provide other solutions, including the use of Big Data and personal financial management tools.