Turkish Banks Select Logica's High-End Messaging System

Logica (News - Alert), an IT and business services company, has announced that 48 banks represented by The Banks' Association of Turkey (TBB) have upgraded their financial messaging infrastructure using Logica's high-end messaging system.

 

The Turkish banks have been Logica clients since 1992 and decided to modernize its messaging infrastructure as part of a broader project to upgrade their hardware platform. After a rigorous evaluation process Logica emerged as the supplier of choice.

 

Logica officials said that the company’s platform has been successfully rolled out across 10 international and 38 Turkish banks in the record time of just two months.

 

"We are honored that 48 banks have decided to extend their partnership with us and that the entire high-value payments environment for Turkey runs on Logica infrastructure”, said Sarah Loveday (News - Alert), managing director, global financial products at Logica, in a statement.

 

Loveday said that the company’s high-end messaging systems offer flexibility and automation the banks require to substantially reduce manual interventions and costs, ultimately improving customer service.

 

Logica officials claimed that the migration to the new Logica financial messaging platform enables the banks to increase Straight Through Processing (STP) rates by automating validation and allowing them to develop their own message validation rules. This, officials said, increases the reliability of the network, as fewer messages are rejected while optimized testing improves the quality and time to market of new financial instruments.

 

The need for manual intervention is also reduced resulting in lower costs for the banks.

By improving the efficiency, reliability and cost-effectiveness of their financial messaging, the banks can deliver a better customer service. Logica's high-performance, scalable payments system can handle approximately 5 million messages a day.

 

Logica is an IT and business services company that employs 40,000 people. It provides business consulting, systems integration, and IT and business process outsourcing services.

 

Earlier this month Logica had announced launching its new Defence Spectrum (News - Alert) Management capability, Aurora. This new solution is designed to provide the next generation of integrated Spectrum Management tools and services for the modern battlefield. 

Aurora builds upon Spectrum Management tool development work for the UK Ministry of Defence’s Pilot Battlespace Spectrum Management System (PBSMS) program. Aurora provides additional functionality in support of the equipment acquisition and spectrum trading communities as well as a full suite of operational tools to manage the spectrum demands of the ever increasing number of spectrum dependent military systems.

 

As TMCnet recently reported, Logica entered into an alliance with Deutsche Bank to launch an outsourced solution for SEPA Direct Debits, which can be used for collections throughout 31 nations.