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
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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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