Maltese bank chooses fintech company for Intelligent Payments Management

Pelican, a leading provider of technology solutions for the financial services sector, today announced that Banif Bank (Malta) plc has selected its Pelican Transaction Banking platform. The solution will provide end-to-end automation of both SWIFT and SEPA payments, including integration with over the counter (OTC) instructions, Banif’s internet banking system and back office.

Chris Micallef, Head of Operations and Systems at Banif Bank Malta, said: “We required a solution that helps us make our payment functions more efficient. By using Pelican’s innovative technology, we will be able to keep improving on our client service offerings and continue delivering a positive experience to all our customers.”

The Pelican Transaction Banking platform includes an intelligent financial messaging hub for banks, which utilises Artificial Intelligence (AI) and Natural Language Processing (NLP) to provide end-to-end automation of the complete payments process. The platform also works with existing systems to handle all integration, routing, transformation, enrichment and exceptions processing.

Parth Desai, CEO at Pelican, said: “By using cutting-edge technology, we are ensuring banks and corporates are able to reduce risk while simultaneously increasing transparency and control across the entire payments life-cycle. This approach delivers outstanding levels of efficiency by not only streamlining middle and back-office functions, but also by enabling Intelligent Payments Management (IPM) through integration of AI and traditional technologies.”

Formerly known as ACE Software Solutions, ACE has recently rebranded as Pelican – the name of its leading platform of transaction banking, regulatory compliance and corporate payments solutions for financial institutions, banks and corporates. The new corporate identity was unveiled at the SIBOS conference in September 2016.