With a view to the impending changes in international payments due to SEPA, Hofer KG decided to re-organize its Electronic Banking systems and related workflows. At the heart of the new solution is Omikron’s MultiCash Transfer, acting as a central payment hub for several countries. One of Austria’s leading retail businesses, Hofer KG operates more than 440 branches across the country. Within the Aldi Süd corporate group Hofer KG acts as internal service provider for activities in Austria, Switzerland, Hungary and Slovenia. The decision for MultiCash Transfer was made as part of a project to centralize payments, during which Hofer KG assessed a number of systems to find the one which best fulfilled its requirements. Important aspects analysed included connectivity to international banks via recognized standards, compliance with corporate security regulations and support for advanced options for automating workflows.
The centralized MultiCash Transfer Payment Hub allows Hofer KG to phase out a number of stand-alone MultiCash systems provided by the banks and used locally in Hofer KG’s countries of operation. This hub now forms the basis on which the corporate can increase its efficiency in handling payments and can drive forward automation and standardisation.
One key benefit of MultiCash Transfer is the use of the Electronic Banking Standard MCFT (MultiCash File Transfer). This is widespread in Europe and is supported by more than 90 percent of all banks in Austria. This allows Hofer to benefit directly from the strong international footprint of MultiCash and Omikron’s longstanding experience with corporates and banks in its countries of operation. For Hofer KG, the product comes together with a service package from Omikron, tailor made to its requirements. This one-stop shop for the Payment Factory software solution and services means that the corporate can be confident that the system will operate smoothly. At the same time, it also ensures that the corporate can react quickly and flexibly in case of future changes in payments.
More detailed information on how the Omikron solution is implemented at Hofer KG can be found in our case study