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SunGard Releases New Version Of AvantGard Trax Payments Solution

SunGard has released new version of AvantGard Trax payments solution. AvantGard Trax 4.4 offers corporate customers a series of upgrades including integrated workflow support for cut-off times, better support for structured remittance information and an increased choice of connecting to banks with support for electronic banking internet communication standard (EBICS).

SunGard claimed that by using the EBICS connector, European-based customers of AvantGard Trax 4.4 will be able to use multiple mechanisms to readily connect to their banks. The solution also leverages the AvantGard EcoSystem Communication Service for single point bank connectivity.

AvantGard Trax 4.4 is expected to offer advanced payment processing functionality and enhanced bank account allocation functionality to facilitate centralization of the payment initiation processes. Customers with operations in the US can use entry screens and payment formats for US automated clearing house (ACH) and wire payments, providing the required functionality for corporations to deliver validated payment instructions to their banks.

Enhanced support for capturing remittance information is also available in AvantGard Trax 4.4, making the solution compliant with the ISO 20022 payment initiation standards. The upgraded solution also provides new standard reports, as well as the ability to integrate with third-party reporting tools.

Andrew Owens, managing director of global payments for SunGard’s corporations business, said: “With the release of AvantGard Trax 4.4, customers in Europe will now be able to process transactions end-to-end by connecting to their banks via Swift and EBICS, helping them to standardise corporate-to-bank business processes and transactions.”