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48 Banks in Turkey Go Live on Logica’s Messaging Infrastructure - Logica, a leading IT and business services company, today 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 - Logica.com
48 Banks in Turkey Go Live on Logica’s Messaging Infrastructure

 

NewswireToday - /newswire/ - London, United Kingdom, 2009/06/22 - Logica, a leading IT and business services company, today 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 - Logica.com. LSE: LOG; Euronext: LOG

   
 
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The Logica platform has been successfully rolled out across 10 international and 38 Turkish banks in the record time of just two months.

Sarah Loveday, managing director, global financial products at Logica, comments: “We are honoured 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. Our high-end messaging systems offer flexibility and automation the banks require to substantially reduce manual interventions and costs, ultimately improving customer service.”

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 increases the reliability of the network, as fewer messages are rejected while optimised 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.

The Turkish banks have been Logica clients since 1992 and decided to modernise their 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’s close partnership with Turkey’s banking community ensured a rapid and smooth migration. With project teams working along side each other this was a high quality development and system rollout to all the banks coordinated by the TBB.

About Logica’s payments expertise

Logica has more than 30 years of experience in delivering payments products to the largest financial institutions and central banks. Logica is the only company to provide an end-to-end payments hub enabling banks to move from duplicated, siloed payments systems to a modern hub environment. Logica’s All Payments Solution (LAPS) can process the full range of payment types (retail, domestic, international, urgent/timed, single and mass payments) within a single deployment. It is fully SEPA compliant and live, supporting SEPA in over 10 countries. Furthermore, this massively scalable and high performing solution enables banks to optimise hardware utilisation and reduce infrastructure costs.

About Logica

Logica (logica.com) is a leading IT and business services company, employing 40,000 people. It provides business consulting, systems integration, and IT and business process outsourcing services. Logica works closely with its customers to release their potential - enabling change that increases their efficiency, accelerates growth and manages risk. It applies its deep industry knowledge, technical excellence and global delivery expertise to help its customers build leadership positions in their markets. Logica is listed on both the London Stock Exchange and Euronext (Amsterdam).

Press contact:
Evelina Amanatidou, Metia for Logica global financial products division
T: +44(0)20 3100 3592 / E: Evelina[.]metia.com.

 
 
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Written by / Agency / Source: Logica PLC

 
 

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48 Banks in Turkey Go Live on Logica’s Messaging Infrastructure

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Publisher Contact: Suma Boby - Logica.com 
+44(0)75 9561 2180 s.boby[.]logica.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Logica PLC securities in any jurisdiction including any other companies listed or named in this release.

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