Instant payments will become the "new normal" by law: payment service providers must offer corresponding functionalities to all customers in the future, but may not charge higher fees for them than for SEPA credit transfers. The demands on the banks' IT systems are high: 24/7 availability, IBAN/name matching in real time, processing three times the amount of previous transaction volumes. Is your financial institution prepared for this? The answer is provided by PPI's instant payments readiness check. It performs a strategic and technical assessment of the current state and identifies fields of action, but also opportunities. Check with our experts what still needs to be done!
The future obligation to offer instant credit transfers will have a significant impact on IT system requirements at financial service providers. The number of transactions is likely to increase massively, while at the same time there are other requirements to be met in addition to the actual booking processes:
Scalability, performance and stability in the entire payments chain must be guaranteed at all times; otherwise the stipulations of the instant payments regulation cannot be met. Even banks that already offer instant payments should make sure that their IT landscape can still reliably cope with a significant increase in load.
We offer financial institutions an instant payments readiness check by our payments experts. It includes:
Our instant payments readiness check takes into account the entire process chain of payments and thus guarantees a holistic assessment of your institution. The structured approach ties up as few of your human resources as possible. There are no set-up times, which means additional time savings. Our payments experts have decades of experience and offer you the necessary security on the way to mandatory instant payments through a neutral assessment.
Interested? Contact our instant payments experts for a non-binding consultation. They will explain in detail how to participate in the instant payments readiness check.
The mandatory introduction of instant credit transfers poses considerable challenges for the IT systems of European financial service providers. With TRAVIC-Instant-Payments-as-a-Service, institutions have an absolutely reliable solution at their disposal with which the regulatory obligation can be implemented within a short time and in a resource-saving manner.
Instant credit transfers will be a permanent fixture in future payments. Read our whitepaper on the subject to find out how institutions can generate the best added value for instant payments, what prerequisites need to be met and what opportunities SEPA instant payments offer.