Financial institutions are facing the challenge that the exchange of information between the different market participants is being comprehensively harmonised. Following mass payments and TARGET2 securities, the migration from TARGET2 and EBA Euro1/Step1 to the ISO-20022 standard is now pending.
The PPI clearing solution for individual payments is based on the new TRAVIC-Payment Hub and offers you a connection to TARGET2, and soon also EBA Euro1/Step1as well as foreign payments via correspondents as of next year.
The clearing solution is designed as a hub and offers standardised processes for payments from all channels (own customers, clearing systems or correspondents) without a necessary differentiation between input, output and forwarding of a payment. Additionally, flexible implementation scenarios allow it to be used as a pure clearing bank for connecting other institutions or as a complete payments solution.
The TRAVIC-Payment hub is based on the ISO-20022 format and is therefore optimally prepared for the challenges of the TARGET2 MX migration.
The application’s focus is on a high STP throughput rate.
But the product scope also includes intuitively usable exception handling, such as correction or account assignment, or manual intervention options in automatic processes such as matching, balance disposal checking or sending. We would like to highlight:
The foreign payments extension adds: