BHMI Launches Concourse - Extended Settlement, Release 3

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The latest release in the Concourse Financial Software Suite™ is based on a rules-based architecture that makes it the most flexible, reliable, and cost effective back office solution in the EFT market.

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Release 3 of Concourse - Extended Settlement includes features that clearly set it apart from other products within the electronic payments industry.

Baldwin Hackett & Meeks, Inc. (BHMI), a leading supplier of back office EFT financial software products, has announced the availability of Concourse - Extended Settlement™, Release 3. The new Concourse release ensures the successful settlement, reconciliation, and funds movement of electronic payment transactions. It's one of the most significant releases of the Concourse Financial Software Suite™ that is based on a powerful rules-based architecture.

With Release 3, there are no limits to the granularity or frequency of electronic funds movement. Companies can schedule clearing and settlement to occur multiple times a day, week, or month because Concourse's business rules can invoke unique processing on a transaction-by-transaction basis. Companies can easily manage complex funds movement plans, create unique partnerships with external networks and processors, and explore new processing opportunities.

The rules-based architecture also represents significant cost savings because companies no longer have to incur the time and expense of modifying software to meet changing business requirements. Concourse includes a browser-based interface that provides an intuitive, step-by-step process for creating or modifying business rules. As a result, companies have the flexibility to react quickly and cost effectively when new EFT processing requirements need to be implemented.

The Concourse Financial Software Suite incorporates the following product features that make Concourse - Extended Settlement the best choice for settlement, reconciliation, and electronic funds movement:

Leverages A Continuous Processing Model. Since Concourse accepts continuous transaction feeds and processes information as it arrives, it can deliver time sensitive data, such as ACH files and reports, more quickly.

Accommodates Large Transaction Volumes. Concourse's parallel-processing architecture accommodates the performance needs of high volume transaction processing service providers, who have to fulfill demanding service level agreements.

Provides Secure & Immediate Data Access. The Concourse browser-based viewer provides secure and continuous access to transaction details and summaries.    

Supports All EFT Formats. Concourse can load transactions from multiple front-end EFT authorization or switching applications such as BASE24™ and CONNEX™, and it can process reconciliation files from multiple national networks and processors such as Visa® and MasterCard®.    

Creates Transaction Lifecycle Linkage. Concourse can link transactions from an authorization system's log files with corresponding network reconciliation file transactions to create complete transaction lifecycles.

Performs Near Real-Time Settlement. Since Concourse continually processes EFT transactions from multiple sources and concurrently calculates resulting settlement positions, settlement processing is spread across the day. This provides continuous access to financial positions and also ensures that settlement activity will be completed on time.

Automates Reconciliation. Concourse automatically detects discrepancies among related activity details processed from separate external sources, thereby ensuring that internal and external views of transaction activity are balanced.

Supports Concurrent Settlement Environments. Concourse can simultaneously support both hub and spoke and point-to-point environments so companies are no longer limited to settling in one or the other.

Provides Flexible Funds Movement. Concourse allows an unlimited number of settlement accounts per business, which permits more granular funds movement based on attributes of transactions, fees, or disputes.

Creates External & Internal Distributions. Concourse creates external distribution files, such as ACH files, as well as distribution files for internal accounting needs, such as general ledger accounting systems.

Leverages An Open Architecture. Concourse runs on a wide range of hardware platforms and operating systems, including IBM AIX, HP/UX, Sun Solaris, Microsoft Windows, and Linux. Multiple database options are also available including Oracle, DB2, Sybase, and SQL Server.

The Concourse Financial Software Suite is designed to manage electronic payments and includes a number of modular business services: Concourse - Extended Settlement™, Concourse - Fees & Commissions™, and Concourse - Disputes™. Each Concourse module can be licensed separately or purchased as part of an integrated solution.

"Since BHMI has made a strategic business decision to focus its Concourse product efforts on back office EFT processing, the company is continually striving to add new features that make the Concourse Financial Software Suite the most flexible and powerful solution in the EFT market," stated Susie Swenson, Concourse Product Manager. "Release 3 of Concourse - Extended Settlement includes features that clearly set it apart from other products within the electronic payments industry."

BHMI is the creator of the Concourse Financial Software Suite - a powerful PCI compliant back office software solution specifically designed to manage electronic payments including credit, debit, POS, ATM, mobile, and prepaid. With user-configurable business rules, an online transaction repository, and a continuous processing architecture, Concourse proactively assesses and allocates fees for all business relationships, settles and reconciles all transaction types, and automates the process of identifying and facilitating disputes. For more information, please visit


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