Payments Modernisation for SEPA
Looking for a Better Way to Support SEPA and the European Payment Services Directive?
Modernising payments systems is a top priority for many financial services firms to reduce costs, increase customer responsiveness and facilitate compliance with new regulations. The Single European Payments Area (SEPA) and the European Payments Services Directive (PSD) are mandating the use of new standards for payments which puts increased pressure on existing bespoke systems that typically use legacy ACH and SWIFT MT data formats. To increase the efficiency of communications with customers and partners, there are also new demands to support ISO 20022-based messages for payments transactions.
- Can you comply with SEPA deadlines?
- Do you need to build a payments gateway that supports many internal and external data formats?
- Are you looking for a better way to parse, transform and integrate SWIFT MT/MX, SEPA, ISO 20022 and legacy ACH messages?
Reduce SEPA Compliance Complexity with C24 Technologies
C24 Technologies’ Payments Modernisation for SEPA solution allows financial institutions to comply with PSD and SEPA initiatives by providing financial messaging data interoperability tools with pre-built standards libraries for payments processing. Rather than dealing with the costs and project delays of learning many financial services standards, hand-coding and testing schemas, transformations, and validation rules, the solution lets developers use model-driven tools to support legacy and new messaging standards, configure changes and specialize data for various payments processes. The solution provides “out of the box” high performance data validation addressing the challenges of today’s highly regulated financial services environment.
Immediate Benefits with C24 Payments Modernisation for SEPA Solution
Financial organizations worldwide rely on C24 Integration Objects to:
- Reduce payment processing implementation and maintenance time by 50%
- Ensure ongoing compliance with SEPA and PSD mandates
- Reduce the occurrence of failed transactions and invalid data sent between systems
- Accelerate time to market by leveraging pre-built and maintained data models for SEPA, ISO 20022, SWIFT, STEP2, and legacy national ACH formats
C24 Integration Objects (C24-iO) is a data modelling, meta-data management, transformation, and messaging integration solution based on Java data binding technology...
C24-iO Standards Libraries are specialised data models for specific integration scenarios like payments, securities and OTC derivatives automation. The libraries fully encapsulate standards such as SWIFT MT-MX, ISO 20022, SEPA, FpML and FIX...