Instant Payment

Page 63

Dr Mónika Iszály

Project leader, GIRO Elszámolásforgalmi Zrt.

The introduction of the central infrastructure in GIRO When I joined the GIRO team in May 2017, the only thing I knew was that I had to coordinate the introduction of the central infrastructure of instant payments. I was naturally aware that this was a high-value priority project, but I only realised what this actually meant much later. When I arrived, the preparatory project was drawing to a close, and work on the requirements specification was well under way. I did not have much time to acquaint myself with my new workplace since the call for tenders had to be sent out to the potential suppliers in mid-June. I remember that we prepared and encrypted the electronic document packages for each supplier, and after we pushed ‘Send’ on the emails we knew that this small step meant a huge shift towards the future, and we only suspected the length of the road we had just entered and the obstacles that lay ahead. From a professional perspective, one of the most exciting and memorable parts of the bidding process was the contract negotiation. We worked hard for two months, negotiating with the supplier five days a week, 8–10 hours a day, sometimes even on weekends. There is no doubt that we laid the foundations of good cooperation during the project there and then. After the contract was signed, the joint work started among experts, too. We travelled to Nets’ Copenhagen head office several times to discuss the issues in person. I believe that although videoconferencing and discussions over the phone are efficient, lasting

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Articles inside

The introduction of the instant payment system from the perspective of Gránit Bank

1hr
pages 132-176

The introduction of the instant payment system from the perspective of CIB Bank Zrt

6min
pages 124-127

Teamwork can help in realising even the most ambitious plans

7min
pages 120-123

Erste Bank’s four-year project: 25,000 person-hours on 53 systems

7min
pages 128-131

The introduction and utilisation of the instant payment system at the Hungarian National Tax and Customs Administration

8min
pages 112-117

The Hungarian State Treasury joins the instant payment system

7min
pages 106-111

Creating cooperation along value chains

6min
pages 100-103

Instant payments: The future today

8min
pages 94-99

The historical and banking aspects of the launch of the instant payment system

12min
pages 77-83

New dimensions in the Hungarian financial system: The Chamber’s experience with the instant payment system

4min
pages 84-86

A 360-degree view on IPS

13min
pages 87-93

Rollout of the instant payment service: How the displacement of cash began

9min
pages 72-76

A journey of cooperation and collaboration to the future

7min
pages 66-69

The introduction of the central infrastructure in GIRO

4min
pages 63-65

A new era in payments

9min
pages 58-62

Exceptional opportunity for modernising payments

8min
pages 51-55

Challenges during the rollout of the instant payment system in a nutshell

9min
pages 33-37

If it does not move around, money is worth nothing

3min
pages 30-32

One hundred fifty-seven million eight hundred and fifty-two thousand eight hundred

10min
pages 38-43

The same project from three different perspectives

8min
pages 16-19

We dared to dream big

13min
pages 44-50

Hungarian payments on a new footing: Regulatory recollection of the instant pay- ment project

12min
pages 24-29

Faster, safer, sleeker: A giant leap in the age of the digitalisation of money

7min
pages 20-23

Foreword

4min
pages 10-13
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