FPC Enterprise Solutions, in partnership with Peresoft, has helped a leading mining solutions provider to reduce risk in payments by deploying Peresoft’s first SFTP solution.
Francois Liebenberg, Operational Director at FPC Enterprise Solutions, says the customer wasn’t just the first to implement EFTXpress SFTP – it also actively supported the development of the module.
Liebenberg explains that the development began mid 2023, when the customer’s auditors flagged a risk in the process. He says: “In traditional processes, the file that was generated had to be taken from the operating system and imported into the bank. The risk that they identified was that someone could intercept that file and then modify the file before it got to the bank.”
Peresoft already had a basic SFTP feature in the 2023 version of EFTXpress, which the customer was using, and was working on a more advanced version for its 2024 release.
Liebenberg says: “We reached out to Peresoft, and said our customer was willing to pay to fast-track development to negate their risk.”
He explains the customer wanted the ability to validate the bank account before releasing payment, among other features.
“Peresoft came on board and we also had to negotiate with the customer’s bank – Standard Bank – to support it. Standard Bank also came to the party, and we started implementing this SFTP solution,” he says.
He adds: “In another turn of events, we have also engaged with Peresoft on behalf of the same customer to further enhance their whole EFT solution, with workflows to approve bank changes.”
Liebenberg says: “Peresoft has an open-door policy when it comes to working with partners like us. We're at the coalface, and we are the people bringing information to the developers about what customers need. In my opinion, banks should be leading in terms of improving security around these transactions; however, we have taken the initiative to build an extra layer of security."
“This implementation of EFTXpress SFTP is a true success story and a testament to the power of collaboration,” says Peresoft founder and MD Bobby Perel. “By working closely with FPC Enterprise Solutions and their customer, we fast-tracked the development of a solution that not only mitigated a critical payment risk but also transformed the customer’s payment process. EFTXpress SFTP delivers greater efficiency, real-time accuracy and unmatched security, helping businesses like this mining solutions provider overcome challenges and thrive. This is exactly what we strive for at Peresoft – partnering to deliver smarter, safer and more impactful solutions for our clients.”
Perel says Peresoft is continually working to make accounting simpler and smarter, as well as boosting security and compliance.
Share