Financial institutions are faced with the challenge of moving to the ISO 20022 standard for individual payments. These include both high-value payments via TARGET2 and EBA EURO1 and cross-border payments (AZV). The ISO 20022 standard requires not only new formats but also new processes and access procedures. At the same time, cost pressure and the need for more transparency in the processing of cross-border payments are increasing. Reason enough to compare existing solutions with the possibilities of new and modern applications for cross-border and high-value payments.
With TRAVIC-Payment Hub, PPI AG offers you the latest solution for the core processing of European payments. Following the high-value euro procedures, the integrated solution for cross-border payments is about to be completed. It goes without saying that this solution also takes into account the requirements of SWIFT gpi such as the universal confirmation, which will be mandatory for all banks from November 2020.
The clearing solution is designed as a hub that implements uniform processes for all relevant payment channels (own customers, clearing systems or correspondents) – without neglecting the necessary differentiation of incoming and outgoing payments and forwarding.
Flexible application scenarios allow the use of the TRAVIC-Payment Hub either as a complete payment system or "only" as a clearing bank for the connection of existing customer bank systems or third-party banks.
November 2022 will see the introduction of the new cross-border payments ISO standard 20022 CBPR+. TRAVIC-Payment Hub in its version 4.0 will already be ready for CBPR+ as of January 2022. SWIFT has tested the functionality and officially confirmed the CBPR+ readiness for PPI AG. The current version – TRAVIC-Payment Hub V3.1 – already fully supports TARGET2 MX.
You can now purchase our TRAVIC suite products either on-premises or as a service with operation in the cloud. Get in touch with us!
The TRAVIC-Payment Hub is based on the ISO-20022 format and is therefore optimally prepared for the challenges of the TARGET2 MX migration.
Head of Sales for Payments Products
+49 151 23944206