Banking of the Future

Global trends, changing business models and innovations pose new challenges for the world of payment transactions. New payment providers simplify payment processes and seemingly threat the existing ecosystem of banks and financial service providers. Seemingly – because banks also keep up with the times. Within comprehensive services, valantic has already implemented a technology for banks now being able to offer clients the possibility to make payments in real time.

As of the introduction of the Payment Services Directive (PSD2) in Europe, banks and financial institutes have to give service providers which are approved and authorised by the clients access to customer accounts. Open gateways allow more space for managing personal finances and require even more the real-time aspect in financial transactions. The future banking and finance world can only benefit from more transparency and data from the day-to-day business. This knowledge will positively influence numerous subsections and help to segment customers, reinforce customer loyalty and accelerate checks, e.g the credit check.

Many banks have already arrived in the future in payment transactions. Thanks to valantic’s Real Time Payment Engine, bank customers have the possibility to carry out real-time money transfers. The valantic Real Time Payment Engine (RTPE) is an open, modular structured payment hub solution which, in addition to instant payments, supports the processing of many different payment types such as SWIFT or SEPA. By integrating different payment channels – such as e-banking, manual recording of payments or payments via third-party providers – the RTPE is particularly versatile and highly flexible.

In addition, the real-time software comprises numerous gateways, features a multi-channel and multi-instrument capability and is easily adjustable to country- and bank-specific requirements. Thus, all payment transaction services which may arise in a bank can be processed out of one central hub. This reduces costs and valuable resources and additionally consolidates computing operations in one system.

The web-based user platform monitors all payments, visualises complex transactions in one GUI and gives an overview of the current processing status. It provides a reliable, scalable and very flexible technology collaborating with current payment processing systems. The high-performance solution provides an almost 100 percent Straight-through Processing (STP) which is of vital importance taking into account the combination of very small margins and the increasing pressure on efficient payment handling.