28 July 2008 Company Announcements

 

Neptune Software and Petra Financial working together on SEPA

Neptune Software will embed Petra Financial's Vortex solution into its new Rubikon banking solution, while both parties are also partnering to leverage their sales and delivery networks.

Rubikon's SOA Java-based architecture will be used to integrate Vortex Software as a Service, which uses CB.Net reference data to deliver IBAN/BBAN/BIC validation functionality through Vortex.

The combined solution is planned to allow banks and financial institutions to achieve significant increases in STP rates and dramatically reduce the costs of payment handling errors. The companies have implied that they expect the to appeal to banks as they convert large numbers of accounts, direct debits and payments data to the IBAN format to comply with SEPA.