Finacle’s Payments is a modular, yet integrated and flexible component of Finacle. Finacle payments centralizes the processing of payments requirements of backend systems of the financial institutes. It is a real-time platform compatible with various payment networks and scheme. It supports variety of payments to cater to the needs of retail, corporate and interbank payments. It supports bulk, real time and online for both domestic and international payments. It is a one stop module for all payment requirements consisting of payment origination, enrichment, validations, message generation, notifications and transaction processing.
Finacle Payments is a centralized Payments Processing engine for multiple payment products and across multiple entities:
- Finacle is able to process Electronic, paper-based payments for both domestic and international payments.
- Finacle payments is a multi entity, multi currency enabled solution. It offers flexible and user definable message structures.
- Finacle payments subscribes to international standards like SWIFT Fin, ISO20022 etc., so that interoperability between various payment networks and systems is met with.
- Versatile system to offer both low value and high value payments on various payment schemes covering bulk, real time and gross settlement systems on a 24X7 mode with ability to match the performance and scalability needs of the industry.
- Out of the box support for major payment systems with ability to configure for any specific payment system.
- Some of the out of the box payment system supported are SWIFT/BACS/ FPS/ CHAPS/ CHIPS/ FEDWIRE/ NACHA/ RTGS/ EFT/ SEPA/ TARGET2
- Comprehensive functionalities to handle various life cycle events of a payment like enriching, validations, suspense processing and message generation.
- Provides support features to manage positive pay, stop pay, mandate and centralized payee infrastructure with flexible notification and stringent audit functionality.
- Provides payments data warehousing with ability to perform payments on scheduled dates