Special offer for Payment Institutions in outsourcing mode
Payment institutions in Serbia
In compliance with the new regulation changes of 1 October 2015 in Serbia, and in accordance with the Law on Payment Services (Official gazette RS 139/2014), the payment services can be provided by legal entities whose only activity is payment operations services or legal entities with so called hybrid activities, i.e. a legal entity performing other activities which are not, or do not have to be related with payment service providing. Such legal entities are called Payment institutions. The operations which may be performed by Payment institutions include certain operations performed by banks. The innovation of additional services they are introducing by using new technology solutions and their market agility seriously increase the Payment institutions’ chances of success.
Are you familiar with the fact that by 2020 the Europe will be lacking 1 million IT experts? Do you know that 10000 IT experts could be hired in Serbia now? Would you like to have the software supporting your business for which you do not have to hire in-house IT development, implementation and maintenance, but to develop new innovative payment services only by requesting the business functionalities which would facilitate it? Is it fine with you that the initial investment is not high at the time when you do not know how your business plan will be realized? Would you appreciate the IT system supporting regulatory requirements? Would you like to have the software which has been proven in the banks doing the same business?
If most of your answers are positive, continue reading.
Aiming to facilitate the market providing such possibilities, and to make the Payment institutions carefree regarding technical solutions, ASEE offers its PI solution.
In compliance with the law
Although payment institutions’ business domain is limited, they are obligated to observe the regulations. The regulatory limitations for Payment institutions are almost the same as the ones applicable to banks. The technical, HR, posting, account management and regulatory reporting requirements which are mandatory for banking can be a challenge for smaller companies starting with development of innovative additional services. The nature of our solution is such that it can support requirements of every market segment, both regarding its functionalities and implementation capabilities - the regulations problem is resolved.
Our Product packages::
This package is intended for payment services providers wishing to perform business operations of cash payment transaction orders receipt and its realization over a business bank, without opening and servicing payment accounts for the payment services users. In addition, this package also includes receipt of existing Serbian payment system instruments, or more specifically consumer cheques and payment cards in cooperation with business banks where the payment services provider acts as a merchant. This package envisages export of data on realized transactions in a standardized format, which data are delivered into the existing system (e.g. ERP) for the requirements of posting and independent internal reporting and reporting to the regulatory authorities.
It includes the Basic package functionalities extended with functionalities referring to the possibility of opening and servicing payment accounts of payment service users, as well as realization of cashless payments from these accounts throughout multi-bank accounts, along with assets management and realization of payment transactions in the banks and internal reporting, as well as reporting to the regulatory authorities.
Multi-bank operations enable the payment service providers to do business independently from commercial banks, throughout multi-bank cooperation and on-line account balance monitoring with these banks, managing through which accounts and which banks the transactions will be realized.
In addition, this package includes functionalities enabling easier work with cashless payment slips (special, predefined payment slips), realization of aggregate payments, and standing order services.
This package includes functionalities of Extended packages with additional functionalities referring to approval and service of short-term loans, software assistance controlling considering AML conditions for provision of services to the payment service users, as well as possibility of recording and managing payment service users’ complaints.
In addition, this package also includes functionalities enabling cash operations (vault and teller).
As additional modules, ASEE recognized the functionalities of exchange office and consolidated bookkeeping of hybrid companies (company’s consolidated statements).
Additional modules can also be any other modules and their functionalities referring to payment service providing, which can be individually provided upon AssePI system user’s request in the form of upgrade of existing packages, which modules would constitute an integral part of AssePI system.
The proposed model of ASEE_PI system usage is outsource model (Software as a Service – SaaS), where the whole equipment, system software, application software and databases are located at the Provider’s, i.e. ASEE business premises. The users use the software throughout Internet, with a secure connection established between computer centre and client location. The Payment institution administration software equipment is realized with high availability on virtualized environment with additional disaster recovery site in compliance with the Decision on minimum information system management standards for financial institutions. The subject of this offer is also integration with 21 banks throughout the Service centre 24x7 with the aim of business automation and instant system installation. The only thing left is system parameterization in compliance with your requirements within the solution implementation process. There are no high initial investments into expensive hardware and software, but the fees follow the business growth instead.
Our solution is a subset of the banking core solution, which is in compliance with the Payment institutions regulations. It contains the key functionalities relating payments, bookkeeping, risk management, internal auditing and legal regulations. You are not required to install unnecessary hardware, system or application software, or pertaining communication links.
Designated development and implementation team, and experts monitoring system performance 24x7, 365 days a year.
The payment institution which does not have to mind the IT limitations and employ or hire IT experts can devote its resources to the business development and new payment services. We shall continue to improve the solution, in compliance with both legal and market requirements in order to support your business strategy and development. In order to succeed, we have the expertise and experienced experts who constantly provide support to financial institutions.
It is expected that in the future Payment institutions will have direct access to RTGS payment system and Clearing system of National bank of Serbia, which is already supported by this solution.
Regulations - supported Decision on minimum information system management standards, regulatory reporting, bookkeeping in compliance with the regulation
Software with payment service providing functionalities
Experience in work with financial institutions and NBS’s acceptance
Fast implementation - production starting from 3 months
Cost optimization - fees in accordance with realized business activities
Integration with 21 banks
Write to us
If you have questions about our offer, please send us an inquiry.