Finacle Advanced Enterprise Payment Services

FINACLE PAYMENTS

An advanced enterprise payments services hub to modernize your business

payment platforms that can service

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payment requirements globally, across

parameterization driven design helps

the enterprise in a cost effective and

to accelerate payment innovations and

flexible manner.

manage changes brought about by regulatory initiatives

Financial institutions are constantly challenged to keep up with the changes happening in the payments. Changing

Finacle Payments Finacle Payments is an advanced

alternate payment methods and other

enterprise payments services hub to

industry initiatives create multiple

modernize your business.

challenges for banks and other financial

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competitive market, financial institutions need to streamline payment operations to serve their target markets in a costeffective manner. They have to be agile to adopt changes rapidly and introduce innovations faster. Above all, they should

Finacle Payments empower financial

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services and tailored payment offerings based on specific requirements The solution enables financial institutions

payments lifecycle and processes

to design and manage workflows to

payments regardless of payment

optimize processes to gain higher

instruments, originating

operational efficiencies. It offers multi-

channels, hosting modules and

currency, multi-product, multi-entity and

payment networks

multi-time zone capabilities to centralize

The SWIFT ready solution is designed leveraging ISO 20022 standards to

enhance the engagement experience

deliver seamless interoperability

across all touch points.

across various global and local payment networks

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experience by offering value added

The solution manages end-to-end

have a customer-centric approach to

However, most of the financial institutions

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institutions to deliver superior customer

customer preferences, regulatory reforms,

institutions. To succeed in a fiercely

The componentized and

payments operations across geographies and source third party payments business to achieve a differentiated cost-curve and revenue model. This centralized solution provides real-time visibility and enhanced control to manage risk and

The solution’s multi-entity capabilities

liquidity. Service Oriented Architecture

modules leading to sub-optimal processes,

empower financial institutions to

(SOA), adherence to industry standards

higher costs and extended time to market

centralize payments across local and

and a robust integration platform ensures

issues. Rigid systems designs, ageing

international subsidiaries to gain

seamless integration with other banking

technology, legacy applications and

unrivalled business efficiencies. The

and customer applications. With Finacle

limited innovations are stifling them in

solution also enables them to offer

Payments, financial institutions can

their quest to deliver quality service. In

white labeled payment services to other

progressively migrate from siloed payment

today’s business scenario, it’s vital for

financial institutions to increase revenue

modules to a centralized payment hub.

financial institutions to adopt centralized

and improve profitability.

are still saddled with siloed payment

Functional architecture Finacle Payments Originating Source

Branch

Payment Core Services Credit Transfer

Transfer Request

Returns

SWIFT Exception & Investigation

Debit Auth.

Request

Dishonors

Collections

Collection Request

Recalls

Domestic & Cross Border

Contests

Accounting Postings

High Value Payments

Intelligent Routing

Charge Application

Validations Internet

Finacle FX Processing Integration Platform

Enrichments

Compliance Check Low Value Payments

Payment Repair

SWIFT Financial Messaging Exchange Cross Network Finacle

Limit Breach Handling

Suspense Processing

Matching & Recon.

Payment Schemes

Integration Platform

Border RTGS

Master Data Layer

Mobile Payment Application

Payment Scheme

Network Directory

Archiving

Message Staging

Reporting

24/7

Integration Framework Single Sign - On

Correspondent Bank

Originating Sources

Originator Directory

Fees and Charges

Local RTGS

Dashboards

Grouping & Ungrouping

SEPA

Audit

Template Management

Notifications

Response Management

SWIFT Infrastructure Layer ATM

Corporate Channels

Payment Warehouse File Management

Corporate

Retail Others

ACH

Product Layer

Mandate Maintenance

Standing Orders

Non-sufficient Funds Mgmt.

Payment Products

Customer Payment Profile

Positive Pay

Non-sufficient Funds Mgmt.

File Format Definition

Others

Finacle Integration Platform Applications

Treasury

Capital Market

Trade Finance

Securities

Loans

General Ledger

Cards

Others

Key functional modules Domestic payments

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High value payment processing module offers support for processing high value domestic payments covering inward and outward credit transfers and direct debits. Solution supports SWIFT, RTGS payment systems such as CHIPS, FEDWIRE, CHAPS, TARGET2, NG-RTGS and other local payment schemes through product configuration.

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Low value payment processing module provides support for processing bulk payments covering inward and outward credit transfers and collections.

Solution supports Automated Clearing Houses(ACH) systems such as SEPA, NACHA, BACS, NACH and other local payment schemes through product configuration. Likewise, the solution also supports low value real-time and near real-time payment systems such as NEFT, FPS and GIRO.

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Unable to apply Claims non-receipt

International payments

Compliance management

This module offers support for

This module provides support for anti-

international payments in foreign and

money laundering (AML), OFAC and

domestic currencies on payment networks

blacklist checks. The response handling is

such as SWIFT, NACHA, SEPA and TARGET2. automated and payment transactions with It offers the infrastructure to maintain

compliance failure are marked into unified

the correspondent banking relationship

suspense processing queue for appropriate

in terms of Nostro/Vostro accounts

actions by business operations.

services, daily transaction and exposure limits, file formats per corporate customer, etc. can be configured in this module.

Suspense management The module facilitates suspense processing for transactions with exceptions, failed validations and screening requirements.

It offers a single window control to users to effectively manage such transaction through multi-level referral and queue management capabilities.

maintenance, charging agreement setups and routing agent bank maintenance.

Exception and investigation management

Payment products Mandate management This module provides the infrastructure to configure and bundle product offerings

The module offers extensive capabilities of

The module offers out-of-the-box support

for both corporate as well as retail

mandate management electronically and

for SWIFT exception and investigation

customers. Banks can create multiple

manually. This includes mandate creation,

services, based on ISO 20022 XML

payment products and align them to

modifications and deletion. It also provides

messaging standards. Key services include:

specific customer accounts or group of

an add-on facility to setup standing orders

Request for cancellation

accounts. Parameters like preferred and

based on customer instructions.

Request for modification

allowed networks, subscription to payment

• •

Finacle Payments is an advanced enterprise payments services hub to modernize your business.

The SWIFT ready solution is designed leveraging ISO 20022 standards to deliver seamless interoperability across various global and local payment networks.

Key infrastructure modules Componentized structure: Finacle Payments is designed in a componentized manner to deliver future-proof and robust payment architecture. The fundamental construct of the solution include:

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Inward manager: Acts as a frontend

Since the messaging component is isolated

Straight Through Processing (STP). It allows

from the core business processing, any

multiple directories per payment scheme

change in the messaging standards would

and supports both incremental and full

require updates only in the message

upload of the network directory file.

structure. This ensures that financial standards rapidly without altering their

Finacle Payments comes with the

core business processes.

Finacle Integration Platform (FIP) as the middleware component, which acts as a

gateway to receive message instructions File management

gateway for external systems to exchange

in the as-is format, de-bulks, parses,

The module provides the facility to

data. The external applications can invoke

validates and forwards the inward

maintain customer specific multiple

Finacle business services in FIP through

instructions to the central payment

file formats for corporate customers. It

Websphere JMS, Native MQ Series, TIBCO,

processing engine.

automatically identifies the file format and

SOAP/HTTP or TCP/IP based end points.

Central payment processing engine:

does the necessary parsing and validations.

User dashboards

Payments instructions received are first

It also gives a unified view of all files and

converted in the ISO 20022 format.

payments and monitors the status of all the

Then, the solution performs the core

payment files uploaded and the payment

business processing that includes

orders created.

or payment files. It stores the messages

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business validations, enrichments, compliance checks, authorizations,

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Finacle integration platform

institutions can adopt to emerging

floor management, status monitoring and real-time inquiries on payment operations across the enterprise. It enables users

Template management

matching, warehousing, fees and

This module offers support to configure

charges handling, balance check,

templates for payment messages or files

accounting and derivation of payment

in any format. It provides the flexibility to

chain and payment network through

rapidly configure templates to support

intelligent routing.

new payment schemes and allows quick

Outward manager: Generates outward

message upgrades.

messages by converting the messages

This module acts as an effective tool for

to define their own dashboards with pre-defined templates. The data can be represented in a graphical manner to give an easy-to-understand picture of critical business operations. Solution also offers integrated reporting capabilities to generate predefined and user defined reports.

Network directory infrastructure

from ISO 20022 format into external format based on the payment network

Finacle Payments provides the infrastructure

identified. It is also responsible for

to manage the network directories for

bulking/grouping and transmission of

different payment schemes. The system

instructions over a queue or directory

does the online network directory

through Finacle Integration Platform.

validations and enrichments to improve

Business benefits Enhanced operational efficiency

dashboard, widgets and a process driven

scalable solution empowers financial

screen-flow enhances the user experience

situations to manage growing payment

and productivity.

volumes confidently and even allows in-sourcing of third party payment

Finacle Payments provides an enterprisewide payments engine with multi-

Superior agility

transactions to create an additional revenue stream.

entity, multi-currency, multi-country,

The solution empowers financial

multi-host, multi-channel and multi-

institutions with agility to respond to

time zone capabilities to centralize

rapid changes and accelerate innovation.

the payments operations across the

Component and parameterization based

Finacle Payments empowers financial

organization. This brings down the

solution design helps to accelerate

institutions to offer tailored payment

operational costs and offers reduced

innovation execution. The glocal platform

services to various customer segments

time to compliance, better control,

offers pre-built best practices and products

with relationship-based pricing,

transparency and visibility. The solution

to bring global innovations to the

configurable access control and rule-based

delivers Straight Through Processing

local markets.

process flows. It offers value added services like remittance advice handling and

(STP) to lower manual intervention and increase operational efficiency. The Service

Differentiated customer service

Futuristic design

reconciliation services. The solution also

Oriented Architecture (SOA) enables

The SOA based solution is designed with

offers transparency in payment processing

users to design and manage workflows to

ISO 20022 data standards to adapt to

through effective audit logging, alerts and

optimize business processes. Features like

emerging payment networks. This highly

notifications.

About Infosys Finacle Infosys Finacle partners with banks to ‘simplify’ banking and arms them with accelerated innovation to build tomorrow’s bank, today.

For more information, contact finacleweb@infosys.com

www.infosys.com/finacle

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