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SEPA

The future of payments is exciting. Have you mastered the basics?

The developments in the world of FinTechs are decidedly more exciting than traditional online banking. Still, at the heart of the payments world there are mass payments – and mastering them is the ultimate challenge. With mass payments, on each single business day orders amounting to several billion euros are executed. That sheer dimension alone puts particular importance on these mass payments.

Customers that use mass payments expect that they can execute their transactions with modern online banking systems that meet all their requirements. Many users are content with the standard features such as an overview of their account statements and the execution of SEPA payments. Others, however, expect much more sophisticated options like online brokerage and more. With SEPA instant payments, there is now a possibility for real-time credit transfers that covers the constantly increasing demand for fast financial transactions in the age of Web 4.0. 2021 will also see the launch of Request to Pay (RTP), a standard that bridges the gap between invoicing and payment and makes digital payment processes without media discontinuity a reality. Alone or in combination, they make completely new approaches in the payments sector possible.

Whether occasional or professional user – all customer groups have the same high demands on functionality, security, data quality and transaction processing. Thus, solutions beyond the desktop application are now also indispensable. Customers are mobile and want to access their accounts and execute their orders at any time and from any location. As a provider you meet these requirements with the respective software, special portals or banking apps.

Thanks to our consultants’ expertise in this sector, you can be sure to make the right decisions. Please do not hesitate to contact us for more information.

Life after the hype: SEPA payments

Since its introduction in Europe in 2014, the general hype surrounding SEPA in the finance world has subsided significantly. However, the discussion about SEPA is far from over. Reason enough for each company and financial institution to still give this subject great attention.

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The new speed of SEPA payments

The introduction of SEPA instant payments allows funds to be transferred in the matter of a few seconds. The procedure places new demands on payment service providers who, in addition to the implementation, must also keep an eye on constantly increasing customer demands for mobility and flexibility.

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The long way to a global solution

Admittedly, not only in Europe are instant payments a current topic. However, there is still a long way to go for the conception of a global stringent solution. The implementation of existing systems into a standardised framework and the creation of a global connectivity will be some of the critical factors in the coming years. For financial institutions who tackle this task early on, presenting a well thought out solution is going to be a decisive competitive advantage.

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Suitable solutions for complex challenges

In the midterm, SEPA instant payments will be established as the new standard for EU credit transfers. Both private and business customers of any size will profit from transactions that in the future are executed in a secure and fast way from the initial order to the executed instruction – virtually in real time. PPI offers financial institutions and payment service providers efficient and tailor-made solutions for instant payments.

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Guidelines for payment operations

Due to political, technical and business developments – especially as part of the digitisation – the number of regulations is steadily increasing. Furthermore, existing regulations are continuously adapted, extended or revised. PPI helps you to stay on top of things.

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Financial institutions as ID providers? Seize your opportunity!

The advancing digitalisation presents financial institutions with the challenge of converting their products into digital services. This increases the need for verified digital identities that can be used instead of physical IDs when concluding a contract.

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Performant and secure online banking on a multi-channel platform

The benefits of TRAVIC-Retail are evident: numerous access channels for online banking, various interfaces for the connection of bank-technical systems, multi-client capability and business transactions that can be individually expanded. Computer centres and medium-sized financial institutions can use this secure and flexible solution to connect all online banking features for private clients and smaller medium-sized companies.

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Core processing of all bank-internal payments processes for SEPA instant payments

Instant payments present completely new challenges for financial institutions and require extensive modifications to the processing systems. With TRAVIC-Payment Hub, financial institutions benefit from an excellent, high-performance platform for payments which is explicitly optimised for the processing of real-time payments – maintenance-free in 24/7/365 operation.

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Secure exchange of payment information between financial institutions

TRAVIC-Interbank is Europe’s leading system for the bilateral data exchange in SEPA and garage clearing for financial institutions and clearing participants.

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Contacts

Eric Waller

Contact

Eric Waller
Manager

+49 160 97932712
Eric.Waller(at)ppi.de

Anuschka Clasen

Contact

Anuschka Clasen
Managing Consultant

+49 175 7878208
Anuschka.Clasen(at)ppi.de