125 million customers on 5 continents, in 220 countries and territories as of 31 December 2004. Consolidated operating revenues of 47.2 billion euros for 2004.
Through its major international brands including Orange, Wanadoo, Equant and GlobeCast, France Telecom provides businesses and consumers with a complete portfolio of solutions that spans local, long-distance and international telephony, wireless, Internet, multimedia, data, and broadcast.
France Telecom is the second largest wireless operator and Internet access provider in Europe, and a world leader in telecommunications solutions for multinational corporations.
France Telecom (NYSE: FTE) is listed on the Paris and New York stock exchanges.
Headquartered in Paris with data processing facilities in Eastern France, SETIB is a member of the France Telecom Group. SETIB and specialises in electronic payment services including e-commerce, PKI, electronic invoicing, and cash management systems. SETIB operates multiple financial transaction processing applications, including e-Carte Bleue and Virtualis services for major French banks. SETIB is a recognised specialist in the payment security field, performing security risk assessment and audits. Through its relationship with OpenWay, SETIB can extend its service offerings in both France and Europe.
SETIB sought a new state-of-the-art comprehensive financial transaction processing platform to extend its electronic payment services and meet its strategic goals.
The system needed to support the following features:
Acquiring back-office
Multi-account and multi-currency
Multi-institution support, clearing and settlement, GL
Dynamic Currency Conversion (DCC) support
Web banking, online statement delivery
After detailed analysis of available solutions, SETIB selected OpenWay's WAY4 Dynamic Currency Conversion (DCC) solution.
SETIB’s approach is “think big, start small, and scale quickly." One of SETIB’s major customers required quick time-to-market. OpenWay’s modular solution and technical and functional expertise met this challenge. To quote Fergal Golding, business development manager, SETIB: “Partnership with OpenWay allowed SETIB to achieve both time-to-technology and time-to-market through a single company.”
Wim Pardon, OpenWay’s Managing Director, EMEA region, states: “The flexibility and reliability of WAY4 solutions and the high quality of its system support services have been already acknowledged by many banks and processing companies in Europe and the CIS. Today, our customers include financial institutions and telecommunication companies operating on three continents. Our cooperation with technology leaders assures our place at the top of the latest technologies. We are proud that SETIB has selected our WAY4 solution, which will certainly help SETIB to introduce new value-added services.”
The project was completed successfully on time and within budget.
The multi-currency acquisition service rolled out by SETIB makes use of DCC, including such modules as Merchant Management, Clearing & Settlement with card networks, Dispute Management, and Web Banking.
SETIB’s clients can build value-added payment and transaction processing services on the WAY4 platform, hosted in SETIB’s 24x7 Data Centre.
SETIB is now approaching banks in different regions to set up merchant services. Since WAY4 is so flexible, there will be no regional limitations for delivery of these services, even to countries outside Europe.
Industry: Financial Services
Project: Financial Transaction Processing Platform for Dynamic Currency Conversion
Project Implementer: OpenWay Group
