London-based Alaric International has teamed with Oracle to combine financial solutions to create a new offering for the consumer-payments market. The product package — the Consumer Payments Services Hub — will enable retail banks and service providers to progressively modernize aging ATM and POS legacy systems while delivering increased profitability, reducing operational costs and expanding existing customer relationships, Alaric says.
Alaric's Authentic system offers the multichannel payment switching and authentication capability in the Consumer Payments Services Hub solution, which enables banks and service providers to transition from aging/legacy ATM and POS systems, while Alaric's Fractals solution provides comprehensive, multiinstrument fraud detection and prevention capabilities. The other solution components include Oracle Business Activity Monitoring, Oracle Demantra, Oracle Business Intelligence Enterprise Edition Plus and Oracle Adaptive Access Manager from the Oracle Fusion Middleware suite, as well as high availability and disaster tolerant solutions recently acquired from Golden Gate Software.
The new Consumer Payments Services Hub builds on Authentic's core strengths of security, scalability and configurability to deliver new functionality, including:
- Comprehensive real-time analytics
- Real time status of the entire network on configurable dashboards
- Cash supply optimization and analytics for maximizing net-interest margin
- Integrated fraud-detection and monitoring capability
The Consumer Payments Services Hub helps deliver functionality beyond what is available in existing payments infrastructures and also addresses essential security requirements, including conformance with PA DSS and providing continuous availability and disaster recovery, not only in production, but also during the transition from the original legacy environment.
Alaric is a member of the Oracle PartnerNetwork, and is working with Oracle to deliver the highly configurable Consumer Payments Services Hub to the financial community through a network of strategic systems integrators complementing the existing Alaric delivery and support network.
