Standard Bank Implements Logica's Payment Solution
Standard Bank of South Africa (SBSA) has implemented Logica’s All Payments Solution (LAPS) to deliver a central payments processing and risk management system for its large value SWIFT-based payments. Deployed by Logica’s professional services team, in collaboration with SBSA, the bank will benefit from a single point to manage its high value SWIFT-based payments.
After a competitive selection process, SBSA chose Logica as the sole solution provider and implementation partner. This was due to Logica’s partnering approach, the strength of LAPS, and SBSA’s previous implementation of Logica’s Continuous Linked Settlement (CLS) Manager system. Now deployed at the bank’s headquarters in Johannesburg, LAPS has enabled the bank to start consolidating operations, reduce payments risk, and meet increased regulatory requirements.
Martin Lima, who project managed the LAPS implementation, said: “SBSA and Logica worked together as one joined-up team to deploy LAPS and, as a result, the project was delivered on time and on budget. We’re pleased that SBSA is already realising the benefits of our flexible payments services hub, with more expected to come to fruition over the coming months and years.”