Finastra provides connectivity to European instant payments infrastructure
London, UK, and Toronto, Canada, 1 December 2017 – Finastra has successfully completed connectivity testing with SIA, the European leader in payment infrastructure and services, to provide connectivity to the European instant payments infrastructure systems via SIAnet.
The testing confirms that Finastra’s payments gateway is able to exchange real-time payment messages through its connection to SIAnet. Additional trials have demonstrated that financial institutions can connect to RT1, EBA CLEARING’s pan-European instant payments infrastructure, using Finastra’s global payments solutions via SIAnet.
As of November, the RT1 infrastructure is live to process SEPA instant credit transfers, supporting euro payment transfers between accounts in less than 10 seconds and immediate availability of funds to the payment beneficiary. SIA provides access to this infrastructure with SIAnet, which is specifically designed to meet the requirements of instant payment and instant clearing systems. Finastra’s real-time payments gateway solution will allow financial institutions to access payments platforms such as RT1 via SIAnet in order to execute pan-European instant payments.
“After rigorous testing, Finastra is now able to successfully support RT1 users in executing payments through SIAnet,” said Andrea Galeazzi, Network Services Director, SIA. “Customers of Finastra that seek to execute real-time payments throughout Europe can be confident in SIA’s network infrastructure and Finastra’s ability to facilitate these payments via leading edge technology.”
Robin Crewe, CTO, Lending & Transaction Banking at Finastra, said, "By connecting to the infrastructure and network solutions laid out by EBA CLEARING in partnership with SIA, we are enabling our customers easier access to real-time payments capabilities. This move demonstrates our commitment to supporting banks as real-time payments continue to gather pace in an open banking environment.”
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Finastra unlocks the potential of people and businesses in finance, creating a platform for open innovation. Formed in 2017 by the combination of Misys and D+H, we provide the broadest portfolio of financial services software in the world today—spanning retail banking, transaction banking, lending, and treasury and capital markets. Our solutions enable customers to deploy mission critical technology on premises or in the cloud. Our scale and geographical reach means that we can serve customers effectively, regardless of their size or geographic location—from global financial institutions, to community banks and credit unions. Through our open, secure and reliable solutions, customers are empowered to accelerate growth, optimize cost, mitigate risk and continually evolve to meet the changing needs of their customers. 48 of the world’s top 50 banks use Finastra technology.
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