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April 19, 2010updated 04 Apr 2017 4:17pm

Standard Bank rolls out new SWIFT system

South Africa's Standard Bank has launched Logica's All Payments Solution (LAPS) for its SWIFT-based payments. LAPS provides a central payments processing and risk management system for the bank, which has deployed the solution at its headquarters in Johannesburg LAPS has enabled Standard Bank to start consolidating operations, reduce payments risk, and meet increased regulatory requirements

By Louise Naughton

South Africa’s Standard Bank has launched Logica’s All Payments Solution (LAPS) for its SWIFT-based payments.

LAPS provides a central payments processing and risk management system for the bank, which has deployed the solution at its headquarters in Johannesburg. LAPS has enabled Standard Bank to start consolidating operations, reduce payments risk, and meet increased regulatory requirements.

Richard Davies, director of global payments at Logica, said: “This has been a rewarding and insightful project. The close collaboration and commitment between both companies means we’ve learnt a great deal from each other. We look forward to continuing our work together and helping SBSA gain further competitive advantage from this centralised approach.”

Martin Lima, who project managed the LAPS implementation, added: “SBSA and Logica worked together as one joined-up team to deploy LAPS and, as a result, the project was delivered on time and on budget. We’re pleased that SBSA is already realising the benefits of our flexible payments services hub, with more expected to come to fruition over the coming months and years.”

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