VocaLink, which already processes 15 percent of European payments, faces a 10 percent increase in transaction volume this year as it expands into other European markets, beginning with Sweden.
“VocaLink is a key part of the U.K.’s economic infrastructure,” said Peter O’Connor, capacity-planning manager at VocaLink. “We run a complex mixture of Oracle and one of the world’s largest Java implementations. VocaLink chose Precise to help us deliver the reliability required and as we grow our business we trust Precise to help us monitor transactions for customers in new markets.”
VocaLink is the central provider of services for the UK’s Bacs and LINK transactions and last year the U.K.’s Faster Payments Service was launched on the company’s revolutionary real-time payment platform. This 365 day, 24×7 service allows individuals to make single immediate payments in near real-time. VocaLink uses Precise to proactively look for transaction issues, such as extended processing time for security certificates. Using Precise, any transaction issues are passed to the in-house Java team for rapid resolution.
“For more than 40 years VocaLink has been at the heart of the payments industry and is handling an ever increasing volume of transactions on behalf of their customers,” said Mark Kremer, CEO of Precise. “We are proud that our TPM solutions are employed to manage the performance of such a critical and extensive transaction flow.”