The fast track to SEPA instant payments

In a few months, instant credit transfers in the SEPA area will become mandatory for European banks. Institutions that have not yet offered money transfers in accordance with the SEPA instant credit transfer scheme (SCT Inst for short) must act now. In addition to a tight schedule, the increasing shortage of skilled personnel and other changes in payments, such as PSD3 regulation, the European Payments Initiative (EPI) and the European Payments Initiative (EPI) and the digital euro, must also be taken into account. In this situation, PPI's TRAVIC-Instant-Payments-as-a-Service model is the perfect solution. With it, institutions can ensure their regulatory compliance quickly and cost-efficiently.

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High system requirements

Overview of characteristics of TRAVIC-Instant-Payments-as-a-Service by PPI
Overview of characteristics of TRAVIC-Instant-Payments-as-a-Service by PPI
The cloud-based out-of-the-box solution TRAVIC-Instant-Payments-as-a-Service enables financial service providers to comply in a timely and resource-conserving manner with the upcoming obligation to offer SEPA instant payments.

Financial service providers are faced with high regulatory and technical requirements.
In the euro zone, they will soon be obliged to offer real-time payments in accordance with SCT Inst. A corresponding obligation by the EU commission is to come into force in 2025. More than half of the institutions still have to integrate corresponding offers into their portfolio and, above all, into their IT systems. The requirements are high: 

  • Financial institutions must give their customers the possibility to match the name and IBAN of the payment recipient in real time. 
  • The matching of customer data with EU sanctions lists must be automated on a daily basis. 
  • A payment via SEPA instant payments must not be more expensive than a standard credit transfer and must be offered free of charge in many cases.

This task in itself is already highly demanding and ties up considerable resources, which are scarce at many financial institutions anyway. At the same time, other regulatory projects are underway, such as the introduction of ISO 20022 or new requirements for payments. Additionally, companies are feeling the increasing impact of the shortage of skilled personnel, especially in the IT sector. Is a timely implementation of the European requirements feasible at all under these circumstances?

SCT Inst as a service solution

The clear answer: yes, SCT Inst can be implemented in a timely and resource-saving manner. As the provider of the market-leading SEPA instant payments platform, PPI offers a cloud-based out-of-the-box solution that can be integrated into any IT infrastructure in a relatively short period of time. 

TRAVIC-Instant-Payments-as-a-Service uses PPI's TRAVIC suite within the framework of a highly available operator model and thus enables a bank to be quickly connected to the TARGET Instant Payment Settlement system (TIPS system) as well as other European clearing and settlement mechanisms (CSMs).

With TRAVIC-Instant-Payments-as-a-Service, PPI offers a modular, cloud-based solution for SEPA instant payments. The basic model includes the connection to TIPS, payments processing, recall functions and interfaces to bank systems. Additional modules such as RT1 connection, compliance integration or liquidity management enable flexible extensions as required. If you want to implement your obligation to offer SEPA instant payments quickly and in a resource-efficient manner, talk to us!

The characteristics of TRAVIC-Instant-Payments-as-a-Service
The characteristics of TRAVIC-Instant-Payments-as-a-Service
The characteristics of TRAVIC-Instant-Payments-as-a-Service

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Thomas Riedel

Thomas Riedel

Director Product Management

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Hubertus von Poser

Dr. Hubertus von Poser

Member of the Management Board

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