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Our genesis is wholesale payments and fulfillment; thus is our focus in the financial value chain management (FVCM) and related back office processes. The emerging market of FVCM is broadly described as a range of trade-related financial transaction-based functions and processes. The FVC for the financial institutions consist of payments and trade settlement operations and processes. Once a sales transaction is negotiated and signed; i.e. a loan, a foreign exchange contract, a deposit, etc., the processing of the related payments and settlement procedures constitute the FVC for financial institutions.
COCOXT™ extends legacy payments and settlement applications of banks on to the Internet to allow real-time payment initiation and settlement by their customers either within or outside the bank's firewalls. This is an area CocoCommerce is quite familiar with, given our years of experience in payments/settlement processing. Thus extending real-time Internet collaboration to corporate and retail customers for payments initiation, cash management services such as, balance reporting and stop payments, wires, and ACH payments are only a few of the many FVC processes CocoCommerce assists the financial institutions with.
Other products and services such as deployment of cash management to both retail and corporate customers via an open web based architecture like COCOXT™ is another area were helping our banking clients move to real time processing via the Internet. Even simple services such as opening new checking accounts are moving to the Internet. Although these processes are simple and straightforward, the implementation to extend such services to the Internet is not simple. Because these applications are usually enterprise wide spanning across many units, departments, branches, and even subsidiaries; careful planning is given to systems and data integration, compliance requirements, processing standards, and behavior modifications, they may encompass.
These challenges are effectively met with our end-to-end transaction process management and control software platform.
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