As a global payment processing solution, Money Transfer System delivers advanced payment management and execution that helps streamline banking operations and positions financial institutions for the next generation of payment evolution.
By providing a set of independent business application services customized to meet a bank’s specific processing requirements, Money Transfer System can operate as a payment engine for many payment types, an enterprise solution for internal and external message switching, or a payments hub.
Money Transfer System is a multibank, multicurrency solution that provides 24x7 payments processing capabilities, and interfaces to multiple Clearing and Settlement Mechanisms (RTGS, ACH/SEPA, and Deferred Net Settlement systems). It also interfaces easily with messaging systems, internal systems, and numerous third-party banking applications.
It provides a single-source solution for domestic and international payments processing, as well as for message switching for SWIFTNet and other networks.
Money Transfer system offers complete and ongoing regulatory compliance. The solution offers timely delivery of regulatory updates to meet mandated go-lives such as:
• Dodd-Frank payments processing – completed on time and comprehensively, despite tight timelines and subsequent delays
• BAI (X9) format for Fedwire remittance data
• FedWire Payment Notification
• SEPA EPC Rulebook and EBA STEP2 specification compliance
• Annual SWIFT Standards
Key benefits
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Single-source solution
highly optimized domestic and international payment processing enables banking institutions to run complex global payments operations on a single system
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Facilitates efficient processing within a highly configurable workflow
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Multi-bank and multi-branch capabilities
all your global processing needs, centralized in one place or distributed in a configurable network
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Enables seamless integration between RTGS and low-value payments with payments switching between settlement systems
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Supports high-volume, mission-critical payments handling and message switching
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Proven performance and demonstrated cost savings
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Tailor systems to satisfy current and future workflow requirements
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Facilitates a wide range of intra-day information flows through innovative communications technology
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Enhanced Santions Filter
offers a robust, highly configurable solution to allow efficient management of sanctions filtering activity
Additional information
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Money Transfer System provides an interoperable, open and efficient Service Oriented Architecture (SOA)
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Single code base – installed globally
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Intuitive user interfaces
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Unlimited payment and messaging workflows
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Complete Bulk File capabilities to support multiple networks including SEPA
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Extensive liquidity management features
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Maximized straight-through-processing (STP) rates
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Extensive messaging features
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Supports centralized, decentralized or regional operations
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Money Transfer System powers over 65% of US fedwires and over 7% of SWIFT traffic