Implementation of Instant Payments Kicks Off in SEE Region

The instant payment system, as a standard defined by the European regulatory bodies and currently the most modern method of payment worldwide, requires state-of-the-art technology and the availability of all participants in the payment operations around the clock. Once implemented, the system should enable making of payments at any time, while the money should be transferred and available to the recipients in seconds. This novelty represents a massive change in the entire payment operations system opening up numerous opportunities in Europe after it becomes operational.

Keeping track of the latest trends and requirements in the banking and payment industry, Asseco South Eastern Group has a comprehensive solution to offer when it comes to instant payment enablement.

Asseco SEE in Serbia has been under preparation for implementing instant payments on the local market. Responding to the challenges and reshaping of the banking system, which asks for 24/7 availability and immediate realization of transactions, Asseco SEE has been working on necessary modifications. Significant changes are made in the core system (end of day, calculation of interest and fees, statements, weekend/night operations). Channel applications (mobile, web, Office banking) are adjusted in order to support instant payments. Software which communicates with the Central Bank of Serbia (NBS) and processes transactions in seconds is also part of the end-to-end solution. In addition to the necessary implementation of the instant payment solution and integration with the core system, the company will offer full live support 24/7 for the first time and also an outsourcing option for a part of the instant payment system.