IBM Case Studies Creating a gateway to growth with timely, cost-effective SEPA services across Cyprus

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	Creating a gateway to growth with timely, cost-effective SEPA services across Cyprus IBM

Creating a gateway to growth with timely, cost-effective SEPA services across Cyprus

IBM

Technology Category	Platform as a Service (PaaS) - Connectivity Platforms
Applicable Industries	Finance & Insurance
Applicable Functions	Procurement
Services	Software Design & Engineering Services System Integration
Challenge	JCC Payment Systems designed an ambitious strategy to service all SEPA transactions on Cyprus. The company wanted to ensure that its bank and creditor customers in Cyprus could obtain the benefits of the streamlined payment process. After top-level discussions with banking industry leaders, it was decided that JCC would act as the central SEPA transaction hub for the whole of Cyprus. However, the company faced a tight deadline set by the European Commission to achieve its goal. Read More
About Customer	Founded in 1989 and employing 90 people, JCC Payment Systems Ltd is the leading provider of credit- and debit-card transaction processing and settlement services in Cyprus. Today, the company connects with over 20,000 card acceptance points on the island, and processes more than 85,000 transactions daily. With the adoption of the Single Euro Payments Area (SEPA) initiative gaining pace across Europe, JCC wanted to ensure that its bank and creditor customers in Cyprus could obtain the benefits of the streamlined payment process. Read More
Solution	To realize its goal within a tight deadline, JCC selected IBM Financial Transaction Manager for SEPA, and worked with experts from IBM Global Business Services to deploy the solution. As a first step, consultants from IBM Global Business Services travelled to JCC’s offices in Cyprus. After a week-long series of discussions and workshops, the IBM team worked with JCC to create a project plan, and assign roles and responsibilities to internal and external resources. Within just five months, JCC implemented the IBM Financial Transaction Manager for SEPA solution to create a central processing hub for JCC’s banks and creditors. Read More Log in to view content
Contents

Technology Category

Platform as a Service (PaaS) - Connectivity Platforms

Applicable Industries

Finance & Insurance

Applicable Functions

Procurement

Services

Software Design & Engineering Services

System Integration

Challenge

JCC Payment Systems designed an ambitious strategy to service all SEPA transactions on Cyprus. The company wanted to ensure that its bank and creditor customers in Cyprus could obtain the benefits of the streamlined payment process. After top-level discussions with banking industry leaders, it was decided that JCC would act as the central SEPA transaction hub for the whole of Cyprus. However, the company faced a tight deadline set by the European Commission to achieve its goal.

About Customer

Founded in 1989 and employing 90 people, JCC Payment Systems Ltd is the leading provider of credit- and debit-card transaction processing and settlement services in Cyprus. Today, the company connects with over 20,000 card acceptance points on the island, and processes more than 85,000 transactions daily. With the adoption of the Single Euro Payments Area (SEPA) initiative gaining pace across Europe, JCC wanted to ensure that its bank and creditor customers in Cyprus could obtain the benefits of the streamlined payment process.

Solution

To realize its goal within a tight deadline, JCC selected IBM Financial Transaction Manager for SEPA, and worked with experts from IBM Global Business Services to deploy the solution. As a first step, consultants from IBM Global Business Services travelled to JCC’s offices in Cyprus. After a week-long series of discussions and workshops, the IBM team worked with JCC to create a project plan, and assign roles and responsibilities to internal and external resources. Within just five months, JCC implemented the IBM Financial Transaction Manager for SEPA solution to create a central processing hub for JCC’s banks and creditors.

Impact #1	Today, JCC uses IBM Financial Transaction Manager for SEPA to deliver secure and cost-efficient straight-though-processing for SEPA Direct Debit transactions in Cyprus.
Impact #2	The company facilitates transactions with other Eurozone countries via Germany’s central bank, Deutsche Bundesbank.
Impact #3	To ensure availability for its payment processing systems, JCC monitors all of its SEPA workflows from a single point.

Impact #1

Today, JCC uses IBM Financial Transaction Manager for SEPA to deliver secure and cost-efficient straight-though-processing for SEPA Direct Debit transactions in Cyprus.

Impact #2

The company facilitates transactions with other Eurozone countries via Germany’s central bank, Deutsche Bundesbank.

Impact #3

To ensure availability for its payment processing systems, JCC monitors all of its SEPA workflows from a single point.

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Overview

Creating a gateway to growth with timely, cost-effective SEPA services across Cyprus

Operational Impact