PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

Pelican Introduces Pelicanfast Real-Time Payments Solutions for the U.S. Market

PaymentsJournal by PaymentsJournal
January 30, 2018
in Press Releases
0
Pelican logo

Pelican logo

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Pelican expands international real-time payments and financial crime compliance capabilities to the North American market

 NEW YORK – 30 JANUARY 2018 – Pelican, a global provider of payments and financial crime compliance systems for banks and corporates, has expanded its PelicanFast solution to cater for the real-time payments and compliance needs of the US market. PelicanFast, already internationally approved to work with other real-time payment schemes – including the pan-European SEPA Instant Payments scheme launched last year – now offers instant payments and real-time financial crime compliance capabilities for the North American market.

The Federal Reserve and National Automated Clearinghouse Association (NACHA) are actively promoting the adoption of instant payments to the American banking market. Implementing real-time payments can however be a highly complex process that challenges the technical and compliance capabilities of existing legacy environments designed for batch processing. PelicanFast will enable banks to capture the growth opportunities presented by real-time payments, without the traditional headaches of overhauling or replacing existing core-banking systems that are ill-suited to a real-time, 24/7 payments environment. This is achieved by providing value-add features which fill the void left by older core systems that are not always on-line and cannot respond to high volumes of requests in quick succession.

Parth Desai, founder and CEO of Pelican, commented: “While there is currently no regulatory obligation in the U.S. to adopt real-time payment capabilities, the need to innovate and enhance legacy batch capabilities for today’s dynamic digital market is very much an essential for banks who wish to retain market share and capture new customers.

“The new tech entrants with innovative real-time capabilities threaten to significantly disrupt the traditional slow-moving payments infrastructures and processes. American customers, both business and consumer, increasingly expect real-time banking and payments services. The PelicanFast real-time payments and financial crime compliance solution enables banks to innovate and deliver quick-to-market instant payments solutions while retaining their existing investment in internal legacy systems.”

PelicanFast combines both payments processing and fraud prevention services for the U.S. market. It is unique in the way it uses the AI discipline of natural language processing to provide the highest levels of financial crime compliance, whilst still ensuring all validations are conducted within the strict processing time limits dictated by real-time schemes. Using PelicanFast, banks can remain confident of meeting their obligations, while gaining quick access to the liquidity and service benefits of real-time transactions.

PelicanFast is comprised of inter-operable modules for real-time payments processing and real-time financial crime compliance monitoring such as fraud detection, which are available individually or combined and are adaptable to suit the needs of multiple real-time payment schemes. The solution can be deployed on premise or provided as a secure hosted cloud service.

 About Pelican

Pelican provides banks and corporates with solutions that enhance, streamline and secure the payments life-cycle. With over twenty years of expertise in the practical application of Artificial Intelligence technology to payments and financial crime compliance, Pelican delivers outstanding efficiency benefits and cost savings to its customers in over 55 countries. To date, Pelican has processed more than one billion transactions worth over US$5 trillion. Pelican is a global company with offices in New York, London, Dubai, Mumbai and Hong Kong. For more information, visit www.pelican.ai

 

Tags: PelicanReal Time Payments
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    live shopping, ebay

    Q&A: eBay Exec on Live Shopping and the Future of Payments

    March 24, 2023
    AI and Biometrics in Regulatory Compliance in Finance

    The Importance of AI and Biometrics in Regulatory Compliance in Finance

    March 23, 2023
    Everyone Benefits from the Real-Time Payment Networks  

    Everyone Benefits from the Real-Time Payment Networks  

    March 22, 2023
    commercial payments

    Optimizing Commercial Payments in the Digital Age

    March 21, 2023
    cross-border payments

    Cross-Border Payments: Fighting
    E-Commerce Fraud Using Data

    March 20, 2023
    fraud, ChatGPT-4

    How to Fight Fraud While Still Enabling a Great Online Customer Experience

    March 17, 2023
    RTP

    Financial Institutions Without an RTP Strategy Risk Being Left Behind

    March 16, 2023
    visa chargeback

    New Visa Chargeback Guidelines Will Be a Game Changer

    March 15, 2023

    Linkedin-in Twitter

    Advertise With Us | About Us | Terms of Use | Privacy Policy | Subscribe
    ©2023 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    Menu
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • Recent News
    • Resources
    Menu
    • Industry Opinions
    • Recent News
    • Resources
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the Payoneer eBook: