Posted on Wednesday, 14 February 2018.
The New Payments Platform (NPP) Australia is now live as of yesterday - making the option of super-fast payments a reality.
Of the initial 51 financial institutions that were due to launch yesterday, Ultradata is pleased to advise that 33 are powered by its world class core banking system – ‘Ultracs’.
Not limited to the core banking system, Ultradata has also built NPP functionality to seamlessly integrate with its customer facing solutions - including browser based Internet and Mobile Banking and Smartphone Banking Apps - ensuring a fantastic customer experience regardless of its channel.
We are very excited to support the Ultradata clients that are live with NPP and at the forefront of the payments industry in Australia – in many cases, well ahead of many larger institutions.
Ultradata CEO, Peter Henshaw, congratulated the NPPA on the launch and said “the commitment of the clients and the Ultradata team to get this project done has been terrific after a journey of some 18 months. The result is an NPP solution that is both customer and institution friendly. We are very pleased that our clients are market leaders - and now, we are already looking at the next wave of NPP participants from our client base – along with the future functionality the NPP promises for the future.”
In response to some industry concerns regarding increasing fraud potential with the NPP fast payments, Ultradata also continues to innovate with enhancements to its fraud detection and prevention solution - allowing clients using the feature to monitor and respond to potential fraud across an institution’s complete database - 24 hours a day, 7 days a week.