PPI Financial Services GmbH (PPI FS) is taking over the operation of the complete payment transaction platform of Hamburg Commercial Bank (HCOB). With this step, the bank is consolidating its payment transaction outsourcing. In future, PPI FS will process foreign payment transactions, SEPA and instant payments as well as large amounts within the European T2 system, the two companies announced today.
PPI FS has been acting as general contractor for the payment transactions of Hamburg Commercial Bank AG (HCOB) since 1 July 2024. To this end, the PPI AG subsidiary has also taken over all support services, including professional and technical support for end customers. This is the first time that PPI has operated the entire payment transaction service for an ECB-regulated institution.
"We are delighted that our strategy of offering banks a modern and powerful platform for payment transactions, both as a service and on premises, is paying off," said Dr Thorsten Völkel, CEO of PPI AG and responsible for payment transactions.
"We have been providing technologies for more than four years to position Hamburg Commercial Bank in the market with smooth and stable payment transactions and have now extended these capabilities to operational services."
"Payment transactions are a central product for HCOB and the use of Payment-as-a-Service is key for us, enabling us to focus even better on our customers and our core business," Carsten Schrader, Chief Information and Technology Officer at Hamburger Commercial Bank AG, explained.
"We are bundling the services for this important outsourcing with a provider with whom we already have a trusting working relationship and with whom we want to further develop our payment transaction services."
PPI AG specialises in software products and consulting in payments and is the market leader for payments solutions. PPI's product suite offers the complete payments process chain for banks by a single-source provider – from the customer-to-bank communication through core processing of payments up to interbank communication. The consulting portfolio includes both strategic and bank-technical consulting as well as IT consulting relating to payments. PPI advises its customers on topics such as regulation, instant payments, SEPA, high-value and cross-border, mass and card-based payments. As a steadily growing, family-owned stock company, PPI AG and its over 800 employees are entirely focussed on our customers' success – with more than 300 employees in the field of payments.
