Evaluating the Payment Services Hub Vendors: The Vision Is Getting Closer

by Zilvinas Bareisis, January 7, 2011
Vendor Reviews
Global, Asia-Pacific, EMEA, Latin America, North America

Abstract

Payment services hub vendors have made tremendous progress over the last few years. The concept is becoming a reality, and genuine vendor choices are available for a bank keen to embrace payment services hubs.

In this report, Evaluating the Payment Services Hub Vendors: The Vision Is Getting Closer, Celent evaluates nine vendors using its ABCD Vendor View framework. The chosen providers, while all capable of delivering payment services hub solutions, are a diverse group with varying strengths and weaknesses.

“Choosing the right partner is one of the most critical decisions for a bank embarking on a payment services hub project,” says Zilvinas Bareisis, Senior Analyst with Celent’s Banking Group and author of the report. “While not a substitute for a thorough vendor selection process, this report should help banks in getting that decision right.”

The report provides a segmentation of vendors based on the breadth of the firm’s offerings and on the degree of specialisation and industry focus. Celent’s ABCD Vendor View visually represents at a glance the relative positions of each vendor along four dimensions: Advanced technology, Breadth of functionality, Customer base, and Depth of client services. The report also names XCelent Award winners in each of the four categories. Finally, the report includes detailed profiles of each vendor solution.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

3

Introduction

6

The Vendor Landscape

8

Celent’s ABCD Vendor Evaluation Methodology and Results

12

 

ABCD Vendor Evaluation Methodology

12

 

Result: XCelent Technology and XCelent Functionality

15

 

Result: XCelent Customer Base and XCelent Depth of Service

18

Vendor Profiles: Introduction

22

ACI Worldwide

24

Clear2Pay

34

Dovetail

44

Fundtech Ltd.

54

Logica

64

Misys

77

Polaris Software Lab

87

Tata Consultancy Services

103

Tieto Corporation

117

Conclusion

129

Leveraging Celent’s Expertise

130

 

Analyst Access

130

 

Support for Financial Institutions

130

 

Support for Vendors

130

Related Celent Research

132

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