The growing payments transaction volume due to internationalisation and digitalisation poses new challenges for the international financial sector. Across Europe, and soon worldwide, customers expect account-to-account payments that are available to the recipient in seconds. This will not work via the concentrators that have been common up to now, and the direct connections of point of sale/financial institution are predictably increasing. Often an API system is used. The new core processing systems developed by PPI were designed precisely for this scenario and are capable of processing global payments in a fail-safe and legally secure manner.
Payments do not remain unaffected by globalisation and digital transformation. Credits from account to account, worldwide and in a few seconds, the increasing importance of open banking and the overall high competitive pressure are challenges that financial service providers can hardly cope with using existing IT resources. The future belongs to new, high-performance, fail-safe and flexibly adaptable core processing systems. They must be able to control domestic as well as cross-border payments as automatically as possible.
Against the backdrop of this foreseeable development, PPI has extensively expanded its payments product range in the area of core processing for financial institutions and financial service providers. The reactively programmed and blockade-free applications form important building blocks within the payments systems of every financial institution. They incorporate internal legacy systems in combination with a business control application into the processes and link them to ultra-fast embargo and money laundering checks. This way, the requirements of the various supervisory authorities can be met at all times.
The new technology approach of reactive, overload-proof and blockade-resistant applications is well visible in the newly developed clearing platform TRAVIC-Payment Hub. It withstands enormous loads and is 100 % fail-safe, even during updates. The system already covers three basic pillars of European and international payments: SEPA payments, cross-border payments and highly available instant payments. As far as possible, everything is realised without manual intervention, and some customers have already achieved a straight-through processing rate of 100 %.
TRAVIC-Payment Hub has also made provisions for the future. The ISO migration has already taken place, as data in the previous old formats can be used to directly generate payments data in the new formats according to ISO 20022. Newly emerging payments formats are also constantly being added – for example, the hub is prepared for the use of Request to Pay (RTP).
Time and again, problems arise when integrating customer access systems as no interface and no core banking system always have the exact same behaviour. More than 20 years of project experience have shown the experts at PPI the many pitfalls that lurk here, be it with legacy systems or modern API systems. TRAVIC-Business-Control was developed precisely with this in mind. The application creates a link between the access system on the one hand and the core processing or internal clearing system on the other. TRAVIC-Business-Control realises the connections, which frequently have to be integrated in different ways, in a consistently uniform manner and is an important component in the PPI product range. The three core areas are:
An application example for TRAVIC-Business-Control would be the business check of the field contents of a payment or the construction of MT940/camt.53 formats from unformatted sources of account transactions of a booking system – always in compliance with the internationally applicable specifications and guidelines, of course.