SIA launches SIA Financial System

Source: SIA launches

SIA (Società Interbancaria per l’Automazione), the Italian provider of IT solutions and services for the banking and financial community has launched SIA Financial System, a complete financial system infrastructure for retail and gross payment systems (RTGS, ACH), securities settlement and custody (Clearimpact) and trading systems (Trade Impact).

The infrastructure performs these financial processes by means of scalable, customisable solutions that respond to the needs of modern financial institutions.

SIA's experience in the development of participants systems allows the company to offer wide range solutions on DPS, in order to meet any specific financial market needs upon its end-to-end philosophy. An example is represented by the SIA-DPS developed for EBA Step2 Central System, an innovative participant system that allows banks to route payment instructions, bulked in files, via a secure network.

SIA Financial System is made up of the following solutions:

SIA-ACH (Automated Clearing House): it is the key component of an integrated system developed for cost-effectively processing high volumes of low-value payments. The solution guarantees efficiency and security and introduces maximum flexibility and versatility in the system configuration. Thanks to its modular structure, the system responds to specific business and country needs.

Perago: RTGS (Real Time Gross Settlement System): it is a new generation, comprehensive settlement solution developed by Perago to enable Central Banks to reduce risk in their banking industry, conduct monetary policy and manage credit extension to the banks. Perago RTGS is a flexible system, offered as a set of building blocks, which make it functional to both the most sophisticated economies and emerging countries.

Tradeimpact: it is an innovative trading platform designed to develop electronic financial markets, create alternative trading systems (ATS), multi-lateral trading facilities (MTFs) or crossing networks, and provide Brokers and Dealers with a tool for trading securities outside or alongside the official regulated markets (Electronic Communication Networks or MTFs), Bulletin Boards or Bi-lateral Trading Facilities. Tradeimpact overcomes the traditional division among equity, bond and derivatives markets, in that it is based on a whole technological infrastructure. The modularity and configurability of the platform help clients creating the trading solutions that best satisfies their needs while reducing investment costs.

Clearimpact: it is an advanced integrated solution for Clearing, Settlement, Depository and Registry services. Thanks to its integration with Tradeimpact, Clearimpact can deliver the most complete set of applications for Exchanges, granting an high-performance, secure and cost-effective transfer. It is built on a distributed component architecture that can be deployed in multiple tiers and on multiple systems.

SIA is exhibiting at the Sibos conference in Atlanta with Perago Financial System Enablers Ltd., the South African company responsible for the modernisation of the payments system in South Africa, with which SIA has signed a distribution and commercial co-operation agreement, and Actalis, one of the leading companies specialised in security services, electronic signature. Actalis announces at Sibos its entrance in Identrus, the world leader in trusted identity credentials based on global standards.

"Being present at SIBOS testifies SIA’s commitment to perform the best results in order to face the growing complexity and the globalisation of financial markets," says Renzo Vanetti, SIA’s Chief Executive Officer. "In accordance with Sibos’ theme 'Time for Growth', SIA wants to be a partner for innovation, in order to share its successful model of technological co-operation to further enhance the process of European integration."

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