Dovetail continues innovation in payment processing with release of latest comprehensive NACHA solution
26 April 2012
Dovetail, the provider of next generation payment services hubs, today announces the release of the Dovetail NACHA Reference Solution enabling real-time, item-level processing for all payments, irrespective of initiating channel. Engineered from existing capabilities of the Dovetail Payment Services Hub, the NACHA Reference Solution is pre-configured to enable out-of-the box processing of NACHA payments.
The Dovetail NACHA Reference Solution enables a bank to submit and receive payment requests on behalf of their customers, while providing tailored value-added services that allow the bank to differentiate in a competitive market. This includes the extended use of reference and remittance information; the ability to rapidly respond to new market innovation such as P2P payments and mobile initiation; and the ability to offer customers a level of self-service while maintaining full control of the payment process.
Dovetail continues to raise the bar in payment processing capabilities with a proven, open, scalable platform. Unlike most solutions on the market, Dovetail’s productized approach enables banks to implement more rapidly by tailoring a Reference Solution rather than having to develop functionality from scratch using a tool-kit payment vendor.
David Chance, SVP Global Product Management at Dovetail, commented: “The payment processing landscape in the US is changing significantly. The rising tide of electronic payments and the demands from customers, retail, corporate and financial institutions, is stretching the capabilities of legacy payment systems that were architected for a different world. The Dovetail NACHA Reference Solution meets the present day and future needs of NACHA payment banks with a modern, open and proven architecture and flexible business functionality.”
The Dovetail Reference Solution for NACHA processing is available as a standalone solution or as a module in Dovetail’s Payment Services Hub solutions for banks seeking additional processing capabilities.