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We look forward to keeping you informed about Distra and the payments industry abroad.
Best regards,
Mike Aston, CEO Distra
 | Distra help speed up UK Payments
The Faster Payments service was finally launched in the UK on the 27th May 2008. The new service will allow customers to make faster electronic payments, typically via the phone or internet, enabling them to be processed in hours rather than days. Distra is a key player in the launch of Faster Payments Service with partner, VocaLink, delivering Faster Payments as the first application of the VocaLink Real-Time Payments Platform. Mike Aston stated, "Our relationship with VocaLink provides a highly effective channel for bringing our innovative payments technology to this exciting market".
For more information click here. |
| Distra to attend Sibos 2008
Distra will be exhibiting at the world's premier financial services event, Sibos 2008, for the third year running. This year, it will be held in Vienna, 15-19 September 2008, with a focus on today's implications and opportunities of the fast paced, ever- changing financial services market. Distra will be demonstrating live the Distra Switch processing capabilities, access to real-time data, reporting, business intelligence and the ease of configuration, spanning over a number of retail and wholesale payments channels, showing Distra's ability to provide a truly convergent payments platform. Distra will be exhibiting on stand A607.
For more information click here.
Distra to sponsor Banktech 2008
Distra are to sponsor the 9th Annual Banking Technology Summit, Banktech 2008, 2nd & 3rd September, 2008, Sydney. The focus of the conference will be on global security, risk, recovery and compliance and will deliver both global and local insight to address the crucial issues facing the banking and finance industry in 2008. Distra CEO, Mike Aston will be presenting on day two of the summit.
For more information click here. |
| Distra's Real time payments processing whitepaper
In a rapidly evolving business world there may be some people who want to increase the number of hours in a day, but many more believe 24 hours is far too long for payment processing. Why, how and when banks can reduce the time it takes is the focus of this report.
To access this whitepaper click here. |
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JULY 2008
www.distra.com
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| Can you teach an old dog new tricks?
According to Mike Aston, CEO of Distra, Australian financial institutions need to move to next generation payments technology rather than trying to squeeze a better performance out of tired legacy systems.
Commenting on the recent push from some suppliers to encourage banks and other financial institutions to extend the lives of legacy systems, Mike Aston suggests that banks should question whether they really end up where they want to be with this approach.
In most 'replacement' practices, moving to the next generation is generally the accepted approach. When you change your computer, your car or your mobile phone, you buy the next generation product because in terms of performance and features, it is usually significantly ahead of the old version and much more closely aligned to future requirements.
When banks and financial institutions decide to upgrade traditional legacy payments switches, rather than moving to next generation payments technology, it's comparable to putting a reconditioned engine, new seats and a CD player in your old car. Now whilst you may love your old model, the latest cars to come off the production line are superior in just about every respect due to their incorporation of modern technologies particularly in regard to enhancing safety, improving efficiency and reducing maintenance requirements. The same can be said about next generation payments switches.
Of course, in regard to core banking systems, the argument is often made that such a change is risky because of the stringent reliability, availability and security levels, amongst a whole raft of other minimum performance requirements. However, as once again demonstrated by other industries, if the right migration strategies are adopted, risks are reduced and in fact the rewards actually include significantly improved reliability, performance and security.
So, argues Mike Aston, you can keep trying to teach the old dog new tricks but the reality is, even if you make some progress, you still end up with an old dog! |
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