SIA-SSB unveils payments technology

Source: SIA-SSB

SIA-SSB has purposely designed and created an innovative technology infrastructure, called "Payment Institutions EASY BOX", which complies with regulatory and business requirements, in order to allow the new players to exploit fully the opportunities arising from new payment services by reorganizing their business models.

This platform consists of a complete, integrated system based on a modular approach including all the payment services envisaged for Payment Institutions, as well as compliance and supervisory functions and further additional activities.

The new solution provided by SIA-SSB to Payment Institutions in "Software as a Service" mode includes application management, facility management, back office and consulting and is available in three different versions geared to the strategic approach chosen by each individual Payment Institution:
• a "Basic" version aimed at non-bank financial intermediaries who, during the initial phase will limit themselves to upgrading the system of notifications to supervisory authorities;
• a second type of offering called "Advanced" is aimed at Payment Institutions who decide to manage also the payment accounts on which customers may carry out deposits and withdrawals;
• lastly, a "Full" version for Payment Institutions intending to offer some additional services (collections, credit transfers, card issuing, etc.) as well as the functions included in the "Advanced" and "Basic" versions.

Payment Institutions may make use of a single gateway to access networks and circuits at domestic and cross-border level and of a series of further value-added services such as connectivity, multi-channel access and real time monitoring of transactions. Additionally, "Payment Institutions EASY BOX" complies fully with the security and service continuity requirements set out by the regulatory framework.

Comments: (1)

A Finextra member
A Finextra member 13 May, 2010, 14:35Be the first to give this comment the thumbs up 0 likes

Very insteressing ! Is this product suite will comply with all the european coutries ?

No doubt that  that a global solution is needed by companies which think about becoming a payment institution.