Showcase: High-performing realtime payment solutions for SEPA Instant with seamless sanction screening service

Running from June 12 to 13, 2018, the event provides PPI and EastNets jointly with a global platform to discuss how its cutting-edge solutions can aid FIs, payment service providers, banks, and corporations deploy rapidly and seamlessly into a full SEPA-Instant workflow compliant with the 4^th AML directive, applicable in 28 EU countries since June 2017.

The new scheme of SEPA Instant Credit Transfer, launched by the European Payment Council in November 2017 and aiming at performing payment end2end in less than 10sec on pan-European base, is now operational within 14 European countries with more than 1000 banks and PSPs. It is also the first instant payments scheme to become interoperable in a region as large as SEPA, counting 34 countries.

A scheme of such magnitude pose both technological and performance-related challenges for users. Moreover, SEPA Instant will raise new real-time operational challenges for the compliance teams. Banks and PSPs deploying it will need to ensure full compliance with the 4th AML Directive, as well as address the risk challenges of real-time screening against AML/CTF sanction lists.

The instant availability of transferred funds, the expected high transaction volumes and the uninterrupted operation 24 hours/365 days really pose entirely new requirements for the processing systems of banks.

The crucial factor is the simultaneous processing of many single payments. A high-performance and robust online processing is an essential prerequisite for instant payments.

With TRAVIC-Payment Hub, PPI offers a cutting-edge, flexible payment platform that is optimised for instant payments processing. It displays all required processes both for the ordering party bank and for the recipient bank.

Hazem Mulhim, CEO, EastNets, said: “Beyond AML/CTF compliance EastNets core business, our cooperation with PPI ensure that our clients are highly capable of facing challenges amid rapid changes in payment infrastructures for SEPA Instant, with the ever-evolving regulations, rules, and messaging formats and the 4^th AML directive in particular, very demanding to compliance operations due to the realtime of the AML controls on SEPA Instant payment instructions. As a leading forum where we can learn, discuss and debate the key trends driving change in the payments industry, EBA Day is an ideal opportunity for us to highlight the key features of our solutions before an audience of more than 900 senior representatives from leading banks and FIs.”

Dr. Thorsten Völkel, CEO, PPI AG, added:

“Additionally, we look forward to exchanging ideas with our like-minded peers and foreign visitors not only about the essentials of operating in a Single Euro Payments Area but also tackle critical strategic questions that banks must address if they are to prosper in the new business environment,”

For more than 31 years, EastNets has been a provider of leading compliance and payments solutions and services, serving over 300 corporate and financial institutions. The company has been effectively helping financial institutions better manage their regulatory compliance operations and provide advanced financial messaging management systems and payments solutions, among others, through its marketing-leading offerings.

PPI specialises in payments for more than 30 years and is the market leader for EBICS and FinTS solutions. PPI’s products cover the complete payments process chain for banks, from the customer-to-bank communication through the core processing of payments up to the interbank communication – all from a single provider. The payments consulting portfolio includes banking-related strategic and business consulting as well as payments-related IT consulting. PPI advises its customers on various topics such as regulation (e. g. PSD II) and Instant Payments, individual, SEPA and card-based payments, and many more.