JACCOO payments is different. The JACCOO payment platform is a global generic standard single database PAAS solution, which covers all kinds of payment types including credit transfers, direct debits, checks, treasury, salary, wires, ACH, see Figure below. It is now part of the new JACCOO Cloud4Banking service.
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The new Cloud4Bank solution can be delivered off-the-shelf and has an implementation time of a few months. It is a high performance system and can process millions of payments in a few seconds. JACCOO claim that it can seamlessly integrate with company’s receivables, cash- and treasury management environments using the integrated middleware, e.g. JACCOO can take non-SEPA files and automatically add the BIC and IBAN
One of the big four petroleum companies use JACCOO to handle all their payments and collections processing millions of payments annually to/from 1,800 bank accounts. The company has 800+ entities and 2,300 users on the system.
The new cloud based JACCOO solution has just been implemented by Achmea, a the largest insurance company in Holland who needed to be SEPA ready by July 1st 2013 at the request of De Nederlandsche Bankbank. JACCOO implemented the whole system covering - SEPA Credit Transfers, SEPA Direct Debits and all other types of payments - in seven months between October 2012 and April 2013. The system processes all types of payments and collections, automatically recognising whether a payment is SEPA or not, as well as processing bank statements. It is connected to multiple back offices throughout the group. There are 750+ users and Achmea are now processing 17 million transactions per month to/from multiple banks.
JACCOO believe that, given their experience with Achmea and the new tools they have developed, they could now comfortably implement a similar sized company in 3-4 months.
JACCOO’s innovative approach has redefined what can be expected from a payment factory for large companies and groups.
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