Payment transactions: PPI takes over full operation of the payment platform for HCOB AG
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."
Hamburg Commercial Bank AG (HCOB) is a private commercial bank headquartered in Hamburg. HCOB offers its clients a high level of structuring expertise in property financing and has a strong market position in international shipping. The bank is one of the pioneers in Europe-wide project financing for renewable energies and digital infrastructure. The bank offers customised financing solutions for the global aviation sector and for international corporate clients as well as a focused corporate client business in Germany. Reliable and timely payment transactions and products for foreign trade round off the bank's offering. HCOB bases its actions on established ESG criteria. Further information about HCOB can be found here.
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