We have spent many years entrenched in the world of payments, having worked on some of the largest international roll outs, from UK Faster Payments – which our team were involved in designing over a decade ago, to Singapore G3 FAST and the most recent European initiative SCT inst. Our experience ensures that our clients avoid the most common pitfalls and bumps in the road associated with instant payments adoptions, whilst simultaneously future-proofing and underpinning client architecture.
Built on impeccable foundations, we created the Instant Payments Framework (IPF), a ground-breaking response that incorporates decades of experience with the most up to date open source technology, ensuring that banks can make the transition quickly, without disruption and be confident that they have future proofed their business against unexpected changes in the future.
Faster time to market: Rather than ‘rip and replace’, IPF complements and integrates seamlessly with institutions’ existing infrastructure, accelerating time to market by streamlining system set-up, eliminating bespoke development, and enabling one-click testing.
Improved agility: Multiple APIs and communications protocols ensure simple integration with internal and external systems. The pre-built components can be easily extended and customised by the institution rather than Icon. IPF is constantly being updated to offer further capabilities, services and opportunities.
Reduced TCO: Total cost of ownership is reduced through an open source software stack, small hardware footprint, and lower professional services fees. The release cycle is accelerated by graphical design and automated testing, while operations are simplified by maximising straight-through processing and providing rich monitoring, control and query functionality.
ISO 20022 compliant: IPF’s internal data model is based on ISO 20022, with flexible extensions to handle system, banks and scheme specific additional data requirements. IPF handles the mapping between this internal format, and the message formats required by different schemes, CSMs and bank systems. This allows IPF to adapt to different requirements without changes to the core system.
IPF enables you to process instant payment transactions 24/7, from any channel to Payment Network, quickly and cost-effectively. IPF is easy to integrate with your existing ledgers, screening and fraud systems, and provides full operational monitoring and control. Transactions can be enquired on in the IPF database, and exported to a data warehouse for reporting and analytics.
Instant payments are becoming the new normal and we are excited to be at the forefront of the global roll out.
IPF’s flexible design enables it to support instant payments schemes around the world: