Velocimetrics, a provider of software solutions to the financial community, has introduced VMX Payments that offers real-time, end-to-end business flow monitoring for payment platforms.
The company claims that the solution will allow payment platforms to track all transactions in real-time from entry-to-exit presenting the potential to radically reduce processing costs, complexity and SLA breaches.
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It will also enable the payment platforms to gain a detailed, real-time, understanding of the status of all payments as they flow across the end-to-end payments process in a single view.
Based on Velocimetrics’ technology, VMX Payments provides a highly scalable monitoring solution that supports both global and domestic payments systems.
The new offering also includes a series of new features that address the specific monitoring requirements of the payments process. It will enable every single payment within the process to be tracked by independently creating and allocating each payment a unique identifier.
The solution will also instantly recover the information necessary for effective decision-making and issue resolution.
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By GlobalDataVMX Payments will also instantly generate a report about payments being processed by the impacted system and the clients that submitted them along with additional attributes to manage the situation and the client’s experience of it. It also captures and indexes all information about the transactions.
Velocimetrics CEO Steve Colwill said: "Building on practical knowledge gained applying our technology to payments processing, with VMX Payments every single transaction being processed can be effectively and independently monitored through the entire processing lifecycle. Instead of just monitoring the IT infrastructure, VMX Payments tracks what clients and customers really care about, the payments themselves."
