SHAZAM, Atris Announce FlexATM Certification

The certification provides real-time transaction processing.

October 15, 2010

SHAZAM Inc. and Atris Technology have completed certification of real-time electronic funds transfer (EFT) transaction processing middleware, FlexATM.

The joint participation between both organizations ensures SHAZAM participants will enjoy the customer service benefits of online processing, yet maintain familiar reconciliation procedures.

Atris’ FlexATM is a middleware solution that simplifies the highly complex differences between EFT networks and core banking systems. Transactions performed by cardholders are authorized in real time, replacing the use of static balance files to streamline daily procedures.

As a result, financial institution customers receive consistent balance information across all real-time touch points, reducing financial institution resources allocated to managing batch file discrepancies.

FlexATM is a significant advantage to SHAZAM participants, making implementations a non-issue for financial institution personnel and allowing operational procedures to remain largely unchanged.

“We are committed to meeting the business objectives of our financial institution customers and we are delighted a significant number of them can enjoy the benefits of a real time solution at a highly competitive cost,” says Tom Miller, SHAZAM’s senior vice president of sales.

“We understand the requirement to compete with better access to information and superior customer service but minimize costs wherever possible,” says Lon Davis, president of Atris Technology. “We are confident this is an opportunity to provide SHAZAM participants a reliable service that meets the functionality demands of large financial institutions yet addresses the ease of use and affordability requirements of community financial institutions.”

FlexATM is deployed across the U.S. in financial institutions ranging from de novo to more than $2 billion in assets. It is embraced by both EFT and core account processing vendors due to its “open” integration, which removes costly development resources typically required from these entities.

Multiple implementations are underway with SHAZAM-participating financial institutions, providing real-time connectivity into core processors that previously offered only a batch file option.