Real Time Payment Engine (RTPE) digitalises transactions for commercial bank Česká spořitelna
Frankfurt a.M. / Magdeburg, 04 February 2020 – Services in real time are already part of the customers’ everyday life – financial institutions also follow this trend. Česká spořitelna, the biggest commercial bank in the Czech Republic, is a company of the Viennese Erste Group Bank AG and, since autumn 2019, provides real-time payments for its customers. For this purpose, Česká spořitelna implements valantic’s Real Time Payment Engine. For more than 20 years, the technology company develops software for payment, investment banking and transaction management. With the customised solution, the bank’s customers can process transactions in Czech crowns and in real time. In addition to instant payments, the open, modular structured payment hub solution supports the processing of several payment types such as SWIFT or SEPA. Česká spořitelna has a balance sheet total of 33.7 billion euros, more than 10,000 employees, more than 600 branches and five million clients. In total, the parent company Erste Group is present in seven countries and serves more than 16 million customers in Central and Eastern Europe.
One hub for all payment modes
valantic’s Real Time Payment Engine (RTPE) integrates different payment channels such as e-banking, manual recording of payments or payments via third parties. The software comprises numerous flexible gateways, features a multi-channel and multi-instrument capability and is easily adjustable to country- and bank-specific requirements. Thus, all payment transaction services which may arise in a bank can be processed out of one central hub; costs can be reduced and valuable IT resources are available for other tasks. The web-based user platform monitors all payments, visualises complex XML transactions and gives an overview of the current processing status. The platform provides a high-performance, reliable, scalable and flexible technology which cooperates with all current payment processing systems and allows a nearly hundred per cent straight through processing (STP).
Efficient payment processing
“The very small margins in the banking sector and increasing pressure on efficient payment handling make modern and future-proof IT solutions necessary. Furthermore, with regard to speed, the customers are accustomed to a high standard by other payment providers,” said René Lemme from valantic. Corporate customers can benefit from real-time payments as well – by using functionalities like hourly payroll and just-in-time inventory management. Modern real-time payment systems like valantic’s RTPE additionally allow the access to more data which are transmitted during transactions and facilitate the coordination and report creation. Banks are able to provide extended services and to create further added value for their clients. The bank’s corporate customers especially benefit from a real-time overview of the current available liquidity. For information on other factors having an impact on the technological change and how to implement valantic’s Real Time Payment Engine in bank-internal processes, click here.