Unisys to Develop Next-Generation Electronic Check Payments System.Unisys Open Payments Platform Will Streamline Fed's Transition from Paper Checks to Electronic Check Transactions and Help Reduce Electronic Processing Costs BLUE BELL, Pa. -- Unisys Corporation (company) Unisys Corporation - The company formed in 1984-5 when Burroughs Corporation merged with Sperry Corporation. This was when the phrase "dinosaurs mating" was coined. (NYSE NYSE See: New York Stock Exchange :UIS (graphics, programming) UIS - A VMS graphics programming interface package for VAXstations. ) today announced it will design and help implement a new electronic check and image processing image processing Set of computational techniques for analyzing, enhancing, compressing, and reconstructing images. Its main components are importing, in which an image is captured through scanning or digital photography; analysis and manipulation of the image, accomplished system in a consulting, software and hardware agreement with the Federal Reserve Bank of Cleveland The Federal Reserve Bank of Cleveland is the Cleveland-based headquarters of the U.S. Federal Reserve System's Fourth District. The district is composed of Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia. , acting on behalf of the 12 Federal Reserve Banks. The Federal Reserve Banks are replacing their existing system with a scalable, flexible, open system solution to meet both current and emerging requirements for electronic payment processing. The 12 Reserve Banks together are one of the United States' largest processors of payments, including paper and electronic checks, for financial institutions. Unisys will help the Federal Reserve Banks transition from their existing system to a solution capable of handling rapidly growing volumes of electronic checks and images. The Unisys solution is designed to provide a more streamlined and robust processing environment. "We are committed to building a payment processing solution that effectively addresses the migration of financial institutions to electronic checks and images, and we believe that the approach we are taking through this contract with Unisys will help us achieve that objective," said Pat Barron, retail payments product director, Federal Reserve System, and first vice president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , Federal Reserve Bank of Atlanta The Federal Reserve Bank of Atlanta is responsible for the 6th District of the Federal Reserve, which covers Alabama, Florida, Georgia, and parts of Louisiana, Mississippi, and Tennessee. . Unisys will deploy its Open Payments Platform (http://www.unisys.com/about__unisys/news_a_events/04168764.htm) as the core of its solution for the Federal Reserve Banks. Unisys Open Payments Platform takes advantage of the economies and efficiencies that open source technology affords. It supports the processing of multiple types of file and message-based e-payments from numerous sources. The Unisys solution is based on a Service Oriented Architecture (SOA (1) (Start Of Authority) The first record in a DNS zone file. See DNS records. (2) (Service Oriented Architecture) The modularization of business functions for greater flexibility and reusability. ) approach incorporating industry standards, Business Process Engineering Language (BPEL See WSBPEL. BPEL - Web Services Business Process Execution Language ), and Linux. The Open Payments Platform utilizes key components from Unisys partners Clear2Pay and Oracle Corporation: Clear2Pay's SOA Bank Payment Hub and Oracle's 10g Database and Payment Business Intelligence accelerator, the latter of which Oracle jointly developed with Unisys. To meet the Fed's high-volume performance requirements, Unisys is providing an open, fault-tolerant system
Fault-tolerance or graceful degradation . The payment solution will run on Unisys ES7000/one Enterprise Servers based on multi-core Intel processors and running the Red Hat Enterprise Linux Red Hat Enterprise Linux (often abbreviated to RHEL) is a Linux distribution produced by Red Hat and targeted toward the commercial market, including mainframes. Red Hat commits to supporting each version of RHEL for 7 years after its release. operating system. "This engagement with the Federal Reserve Bank continues a long tradition of partnering on payments innovation," said Curt Girod, president of Global Financial Services at Unisys. "In this new project, Unisys will help the Reserve Banks harness the power of open source technology for electronic check payments in a way that is efficient, grows to adapt with their business and addresses their customers' evolving needs." The Open Payments Platform is based on the Unisys 3D Visible Enterprise (3D-VE) approach which helps financial institutions and other organizations measure and evaluate business outcomes before they actually deploy full solutions - a capability that is particularly critical in a payments industry that is constantly evolving. About Unisys Unisys is a worldwide technology services and solutions company. Our consultants apply Unisys expertise in consulting, systems integration, outsourcing, infrastructure, and server technology to help our clients achieve secure business operations. We build more secure organizations by creating visibility into clients' business operations. Leveraging the Unisys 3D Visible Enterprise approach, we make visible the impact of their decisions--ahead of investments, opportunities and risks. For more information, visit www.unisys.com. RELEASE NO.: 0530/8783 http://www.unisys.com/about__unisys/news_a_events/05308783.htm Unisys is a registered trademark of Unisys Corporation. All other brands and products referenced herein are acknowledged to be trademarks or registered trademarks of their respective holders. |
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