payments
A few examples of some of
the forthcoming value-added services include:
l Request to Pay
l Account Assurance Services
l Common Nordic Proxy Services
l Pan-Nordics Direct Debit
TCS BaNCS for Payments
To meet the visionary goals, significant technical
challenges and ambitious timetable for deployment of the
P27 platform, banks in the Nordics will find the perfect fit
with TCS BaNCS for Payments, a state-of-the-art solution
offering extensive capabilities for multi-product payments
within a single platform and a modern API-based
architecture enabling seamless integration with customer
channels, internal systems and market infrastructures.
TCS BaNCS for Payments has been deployed in more
than 25 countries for global and regional organizations
and supports more than 40 clearing systems.
Built with native support for ISO 20022 standards,
TCS BaNCS for Payments includes easy-to-configure
configuration options that enables out-of-the-box support
and high levels of flexibility for dashboards, pricing
structures, reporting, accounting rules and payments
routing.
As a proven multi-entity, multi-currency, multi-country
solution with extensive experience in SEPA deployments
for multiple banks across Europe, TCS BaNCS for
Payments is the ideal fit for the P27 deployment.
TCS BaNCS for Payments will be used for end-to-end
payments processing for P27, including:
l Receiving real-time payment instructions through web
and mobile interfaces
l Handling batch payment instructions through APIbased
links with participating financial institutions
and commercial customers
l Clearing and settlement
l Supporting banking needs for both private and
corporate customers
TCS BaNCS for Payments is entirely aligned with the
P27 roadmap and ready to meet the migration challenges
for participating banks.
Furthermore, the microservices architecture of TCS
BaNCS for Payments will enable participating banks
to support P27 within the context of their existing
application landscapes. Following the initial migration,
banks may also enable a centralized hub for payment
processing that will support credit transfers, direct debits,
and real-time payments for multi-currency, multi-entity
payments through a single application, powered by TCS
BaNCS.
The modern architecture of TCS BaNCS will allow for
rapid rollout of new offerings through continuous delivery,
ensuring that participating banks in the Nordics will enjoy
fast time-to-market and competitive advantage through
the P27 initiative.
"The P27 initiative will trigger many innovative
projects and result in phenomenal changes to the
operations of financial institutions, corporates, and
other key market players in the Nordics ecosystem,”
said S Prahalad, Head–Europe, TCS Financial Solutions.
“TCS is intensely engaged with these developments,
and with our latest enhancements to TCS BaNCS
for Payments, we are helping market participants
throughout the region to rapidly integrate real-time,
cross-border payments into their existing channels,
operations, and business processes.”
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