Challenge

As more consumers are leaning towards embracing faster and more convenient forms of payments, financial institutions who fail to innovate risk getting left behind. The pandemic has accelerated the momentum on this with in-hand forms of currencies turning obsolete and NFCs and other modes of contactless payments taking over at a rapid pace. How can organizations leverage on an instant payments solution that can facilitate a quick time-to-market, offer contextual user journeys, seamlessly adopt Request-to-Pay and proxy management schemes and ensure faster market compliance.

Solution

The Real-time Payments solution from TCS BaNCS can help organizations offer a superior customer experience with its extensive proxy management features, configurable processing flows, and SLA management capabilities. The solution is built on an ISO20022 native data model and offers the flexibility to upgrade in case of any future changes in regulations. It leverages a modern microservices architecture, and comes with an enriched API set and support for cloud nativity, providing an added competitive edge, from both, a business and technical point of view.

Benefits

  • Continuous, 24/7 support for instant credit transfer and Request-to-Pay schemes.

  • Event-driven framework supported at both business and technical levels with synchronous and asynchronous capabilities.

  • Quickly adapts to instant payment schemes and bank requirements with configurable process flow mapping and extensibility features.

  • Extensive proxy management features with multiple proxy support and SLA management with real-time liquidity monitoring.

  • Add-on stand in server capabilities to support 24/7/365 landscape limitations.

Click here to read more on TCS BaNCS for Payments 

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