European CSMs enabling SCT Inst (page 2 of 2)Multiple Clearing and Settlement Mechanisms (CSMs) operate throughout the European region and several of these provide services across multiple countries. Payment Service Providers (Banks) looking to offer SCT Inst compliant instant payments to their customers can use the services of a CSMs to do so.
This will be particularly relevant if a country does not have a national instant payments service.
The information below was originally supplied by the CSMs.
Please note that the information is published on more than one page.
|STET||VocaLink Ltd||Additional CSM|
|Organisation Head Quarters||Paris, France||London, UK||details can be found on Page 1|
|Ownership||Bank owned||Major UK banks|
|Product / Service name||Clearing & Settlement services and Card authorisation Switch||Immediate Payments Solution (IPS)|
|Geographical focus||Pan European||We have software/services operational in Europe and South East Asia, soon to be joined by North America.|
|SCT Inst service launch date||21 November 2017||Our SCT Inst capability will be available Q2 2018|
|Supported service(s)||Full range of payments instruments - SCT, SDDs, Card POS, ATM withdrawals, Cheques||Real time credit transfer and direct debit (retail), real time credit transfer (high value), bulk credit transfer and direct debits.|
|Channels supported||Channel independent||Customer channels are in the competitive bank space, but we would expect to support a broad range of channels, including: mobile, e:commerce, e:banking services and bank originated transactions|
|Bank commitments||25+ to date||No banks have currently committed for a SCT Inst service|
|Technology partners||Own development - STET IPR - Development & Run||Technology Design and Development is performed in-house. In terms of delivery to other CSM Operators, we are flexible, in that we can either deliver our solutions to the CSM directly, or we partner with a Service Integrator/provider that is chosen by the CSM.|
|Processing speed||SCTinst SLA for all CSM actions 1 second max - (transaction and technical validations, liquidity reserve, timestamp monitoring, clearing, settlement and confirmations - each measured in milliseconds)||The SCTInst specific workflows will undergo benchmarking later in the year but our real-time switch can perform at 2500 Transactions per Second. Individual messages are processed across the switch in less than 10 milliseconds.|
|Message types supported||EPC compliant SCTinst - payment, recall, reject||Credit Transfer, Direct Debit, Request for Payment, Remittance Advice, Cancellation Requests, Investigation Messages, Returned Payments, Customer Acknowledgements|
|Message standards||ISO20022 Pacs messages (Pacs 008 & 002 notably) - We also support legacy datsets for non6SEPA transactions (ISO8583, proprietary, etc)||ISO20022 and SWIFT MT messages. The IPS suite also includes an adaptor that translates ISO8583 into ISO20022|
|Overlay services||We provide card fraud scoring, SCT & SDD fraud scoring, SDD direct debit mandate matching, tokenisation of sensitive data, interbank fee calculation, data encryption, non-repudiation. Pus plans to support Proxy database for P2P mobile payments IBAN retrieval and Fraud scoring service based on our existing card fraud scoring tools.||A Directory service that supports multiple account proxies. |
An e:commerce/m:commerce alternative Payment solution that provides a fast check out service that increases conversion and reduces fraud. Additionally have plans for a solution for real time POS account transfers.
|Management Information||Liquidity Management including Liquidity projection based on historical + algorithms. Liquidity top-up and long position alerts. Full on-line operations and treasury tools including indirect Participant exposure monitoring. Services offered on GUI and A2A messaging for integration||The solution provide a set of standard reports and a data warehouse with near real-time data to build custom reports. Our IPS Management Platform provides an operations dashboard, showing current system and transaction states. |
|Maximum Processing capacity||Current configuration 10,000 TPS but scalable architecture||Currently 2500 tps, rising to 5000 tps in 2018|
|Settlement options||For traditional clearing we operate CSMs on 24/6/365 continuous clearing with guarantee fund and also multi-cycle with Deliver After Settlement model. For SCTinst as per the ECB - Risk mitigation model through pre-paid liquidity, cental bank money supporting instant settlement and finality in STET's IP CSM 24/7/365||TARGET2 ASI6, plus proprietary deferred net, pre-funded and real time settlement solutions|
|Connectivity options||STET intelligent gateway to our multiple data centres||Web Services and MQ via suitably performant network. Bank-side gateway products are available to enable PSP connectivity|
|Communication / Network options||Network agnostic - various options available to PSPs (VPN, SWIFTNet, …)||Our solutions typically reside withn a secure LAN environment and exchange data with PSPs through WAN or MPLS networks.|
|Service Availability SLA||99.999% availability - for Sctinst 1 second maximum execution time||We would expect to offer 99.99% plus availability|
|Test options||Live environment copy for end to end testing - Hosted in STET CSM. Pre-system PSP e2e testing tools also made available to participants||For internal testing, we use a Simulator for generating message traffic for various types of payments and workflow. We would expect to stand up a cloud based instance of IPS to enable PSP testing, although we would have the option of providing a dedicated physical test environment for PSP's, subject to demand.|