SecureTrade Selects Enterworks to Build the First Global B2B E-Payments Network in Southeast Asia
ASHBURN, Va.--(BUSINESS WIRE)--March 21, 2000--
Enterworks(R) Suite to Provide Content and Process Integration
Capabilities for E-Commerce in Developing Countries
Enterworks(R), Inc., a leading provider of real-time cataloging
and process automation solutions for e-marketplaces and information
portals, today announced that SecureTrade, a vertical Application
Service Provider (ASP), has chosen the Enterworks(R) suite to help
develop a cross-border e-payment network in Asia. SecureTrade, located
in Manila, the Philippines, will use the Enterworks(R) suite to create
a real-time e-payment system that connects disparate banking systems
and handles currency and regulatory differences between markets.
SecureTrade will use this product suite to support the
SecureTrade Electronic Payment Switch (STEPS), which provides a secure
and reliable infrastructure for complete reconciliation of financial
transactions. STEPS is a private payment network that facilitates B2B
e-commerce by providing real-time account information and automated
processes that enable the immediate transfer of funds.
"The biggest obstacle to B2B e-commerce in Asia is the lack of a
cross-border e-payment system that must accommodate disparate
technologies, currencies and regulatory environments," said Bill
Ogilvie, COO and co-founder of SecureTrade. "The Enterworks(R) suite
enables us to provide real-time solutions by connecting databases and
bank information, as well as by automating bank application processes
from trade inception through financial settlement."
"We are delighted to be working with SecureTrade to develop a
framework for e-commerce in developing countries and throughout Asia,"
said Bob Lewis, president of Enterworks. "In countries that lack
automated payment systems, the Enterworks(R) suite can make B2B
e-marketplaces a reality."
SecureTrade is implementing both the content and process
integration components of the Enterworks(R) suite. Enterworks Content
Integrator(TM) enables SecureTrade to connect disparate banking
systems using both legacy systems and newer data sources, and make
their information available across geographic borders. With Enterworks
Process Integrator(TM), payment processes are automated, taking into
account specific banking and country regulations. Additionally,
Enterworks Process Integrator(TM) handles exceptions such as
unforeseen interruptions to transaction processes. This exception
handling capability enables seamless and immediate assistance during a
payment process by an individual.
About SecureTrade
SecureTrade is an Application Service Provider (ASP) hosting
Financial Services and Banking applications that leverage
SecureTrade's Electronic Payments Switch (STEPS), a payment
infrastructure that electronically transfers funds between banks. With
STEPS, e-commerce applications can be customized or developed to
leverage real-time settlement of funds with the settlement of digital
products. SecureTrade delivers Straight Through Processing (STP)
solutions for business-to-business and business-to-government
transactions for developing countries. For more information, visit the
company Web site at www.securetrade.com. |
