Post on 13-Mar-2018
FINACLE PAYMENTS
Financial institutions are constantly
challenged to keep up with the changes
happening in the payments. Changing
customer preferences, regulatory reforms,
alternate payment methods and other
industry initiatives create multiple
challenges for banks and other financial
institutions. To succeed in a fiercely
competitive market, financial institutions
need to streamline payment operations
to serve their target markets in a cost-
effective manner. They have to be agile
to adopt changes rapidly and introduce
innovations faster. Above all, they should
have a customer-centric approach to
enhance the engagement experience
across all touch points.
However, most of the financial institutions
are still saddled with siloed payment
modules leading to sub-optimal processes,
higher costs and extended time to market
issues. Rigid systems designs, ageing
technology, legacy applications and
limited innovations are stifling them in
their quest to deliver quality service. In
today’s business scenario, it’s vital for
financial institutions to adopt centralized
payment platforms that can service
payment requirements globally, across
the enterprise in a cost effective and
flexible manner.
Finacle Payments
Finacle Payments is an advanced
enterprise payments services hub to
modernize your business.
• The solution manages end-to-end
payments lifecycle and processes
payments regardless of payment
instruments, originating
channels, hosting modules and
payment networks
• The SWIFT ready solution is designed
leveraging ISO 20022 standards to
deliver seamless interoperability
across various global and local
payment networks
• The solution’s multi-entity capabilities
empower financial institutions to
centralize payments across local and
international subsidiaries to gain
unrivalled business efficiencies. The
solution also enables them to offer
white labeled payment services to other
financial institutions to increase revenue
and improve profitability.
An advanced enterprise payments services hub to modernize your business
• The componentized and
parameterization driven design helps
to accelerate payment innovations and
manage changes brought about by
regulatory initiatives
• Finacle Payments empower financial
institutions to deliver superior customer
experience by offering value added
services and tailored payment offerings
based on specific requirements
The solution enables financial institutions
to design and manage workflows to
optimize processes to gain higher
operational efficiencies. It offers multi-
currency, multi-product, multi-entity and
multi-time zone capabilities to centralize
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
liquidity. Service Oriented Architecture
(SOA), adherence to industry standards
and a robust integration platform ensures
seamless integration with other banking
and customer applications. With Finacle
Payments, financial institutions can
progressively migrate from siloed payment
modules to a centralized payment hub.
Functional architecture
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OriginatingSource
Branch
Internet
Mobile
SWIFT
ATM
CorporateChannels
Others
PaymentSchemes
SWIFT
CrossBorderRTGS
Local RTGS
SEPA
ACH
Others
Applications Treasury CapitalMarket
Trade Finance Securities LoansGeneralLedger
OthersCards
Product Layer
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Master Data Layer
PaymentApplication
Retail
Finacle Integration Platform
Corporate
Finacle Payments
Fin
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Pla
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Infrastructure Layer
Archiving
Payment Core Services
Credit Transfer
Collections
Validations
Collection Request
Enrichments
FX Processing Payment Repair
Transfer Request Returns
Recalls
Compliance Check
Low ValuePayments
SWIFT Exception &Investigation
Domestic &Cross Border
High ValuePayments
Matching & Recon.
Debit Auth.Request
Contests
Intelligent Routing
SuspenseProcessing
Dishonors
AccountingPostings
ChargeApplication
Limit BreachHandling
PaymentScheme
NetworkDirectory
CorrespondentBank
OriginatingSources Directory
Originator Fees andCharges
MessageStaging
IntegrationFramework
PaymentWarehouse Dashboards Audit Ungrouping
Grouping &
Reporting SingleSign - On
FileManagement
TemplateManagement Notifications
ResponseManagement24/7
MandateMaintenance
PaymentProducts
StandingOrders
Non-sufficientFunds Mgmt.
CustomerPayment Profile
File FormatDefinition
Positive PayNon-sufficientFunds Mgmt.
Key functional modules
Domestic payments
• 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.
• 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.
International payments
This module offers support for
international payments in foreign and
domestic currencies on payment networks
such as SWIFT, NACHA, SEPA and TARGET2.
It offers the infrastructure to maintain
the correspondent banking relationship
in terms of Nostro/Vostro accounts
maintenance, charging agreement setups
and routing agent bank maintenance.
Exception and investigation management
The module offers out-of-the-box support
for SWIFT exception and investigation
services, based on ISO 20022 XML
messaging standards. Key services include:
• Request for cancellation
• Request for modification
• Unable to apply
• Claims non-receipt
Compliance management
This module provides support for anti-
money laundering (AML), OFAC and
blacklist checks. The response handling is
automated and payment transactions with
compliance failure are marked into unified
suspense processing queue for appropriate
actions by business operations.
Payment products
This module provides the infrastructure to
configure and bundle product offerings
for both corporate as well as retail
customers. Banks can create multiple
payment products and align them to
specific customer accounts or group of
accounts. Parameters like preferred and
allowed networks, subscription to payment
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.
Mandate management
The module offers extensive capabilities of
mandate management electronically and
manually. This includes mandate creation,
modifications and deletion. It also provides
an add-on facility to setup standing orders
based on customer instructions.
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:
• Inward manager: Acts as a frontend
gateway to receive message instructions
or payment files. It stores the messages
in the as-is format, de-bulks, parses,
validates and forwards the inward
instructions to the central payment
processing engine.
• Central payment processing engine:
Payments instructions received are first
converted in the ISO 20022 format.
Then, the solution performs the core
business processing that includes
business validations, enrichments,
compliance checks, authorizations,
matching, warehousing, fees and
charges handling, balance check,
accounting and derivation of payment
chain and payment network through
intelligent routing.
• Outward manager: Generates outward
messages by converting the messages
from ISO 20022 format into external
format based on the payment network
identified. It is also responsible for
bulking/grouping and transmission of
instructions over a queue or directory
through Finacle Integration Platform.
Since the messaging component is isolated
from the core business processing, any
change in the messaging standards would
require updates only in the message
structure. This ensures that financial
institutions can adopt to emerging
standards rapidly without altering their
core business processes.
File management
The module provides the facility to
maintain customer specific multiple
file formats for corporate customers. It
automatically identifies the file format and
does the necessary parsing and validations.
It also gives a unified view of all files and
payments and monitors the status of all the
payment files uploaded and the payment
orders created.
Template management
This module offers support to configure
templates for payment messages or files
in any format. It provides the flexibility to
rapidly configure templates to support
new payment schemes and allows quick
message upgrades.
Network directory infrastructure
Finacle Payments provides the infrastructure
to manage the network directories for
different payment schemes. The system
does the online network directory
validations and enrichments to improve
Straight Through Processing (STP). It allows
multiple directories per payment scheme
and supports both incremental and full
upload of the network directory file.
Finacle integration platform
Finacle Payments comes with the
Finacle Integration Platform (FIP) as the
middleware component, which acts as a
gateway for external systems to exchange
data. The external applications can invoke
Finacle business services in FIP through
Websphere JMS, Native MQ Series, TIBCO,
SOAP/HTTP or TCP/IP based end points.
User dashboards
This module acts as an effective tool for
floor management, status monitoring and
real-time inquiries on payment operations
across the enterprise. It enables users
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.
Business benefits
Enhanced operational efficiency
Finacle Payments provides an enterprise-
wide payments engine with multi-
entity, multi-currency, multi-country,
multi-host, multi-channel and multi-
time zone capabilities to centralize
the payments operations across the
organization. This brings down the
operational costs and offers reduced
time to compliance, better control,
transparency and visibility. The solution
delivers Straight Through Processing
(STP) to lower manual intervention and
increase operational efficiency. The Service
Oriented Architecture (SOA) enables
users to design and manage workflows to
optimize business processes. Features like
dashboard, widgets and a process driven
screen-flow enhances the user experience
and productivity.
Superior agility
The solution empowers financial
institutions with agility to respond to
rapid changes and accelerate innovation.
Component and parameterization based
solution design helps to accelerate
innovation execution. The glocal platform
offers pre-built best practices and products
to bring global innovations to the
local markets.
Futuristic design
The SOA based solution is designed with
ISO 20022 data standards to adapt to
emerging payment networks. This highly
scalable solution empowers financial
situations to manage growing payment
volumes confidently and even allows
in-sourcing of third party payment
transactions to create an additional
revenue stream.
Differentiated customer service
Finacle Payments empowers financial
institutions to offer tailored payment
services to various customer segments
with relationship-based pricing,
configurable access control and rule-based
process flows. It offers value added services
like remittance advice handling and
reconciliation services. The solution also
offers transparency in payment processing
through effective audit logging, alerts and
notifications.
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