Icon’s IPF completes connectivity testing with SIAnet
Dublin, June 21st 2017 – Icon Solutions has completed connectivity testing between IPF and SIA’s high-speed and secure network infrastructure SIAnet, which provides access to EBA Clearing’s platform for instant payments.
SIAnet enables European banks to connect directly to EBA Clearing‘s instant payment service SCT Inst.
IPF takes care of the low-level technical details and provides a simple, business oriented interface to payment systems, allowing ISO20022 payment messages to be sent and received. IPF handles issues such as cryptography, session management and clustering automatically.
Icon’s IPF is built using established Open Source technologies to provide high speed, high availability and massive throughput with a low cost of ownership.
It will be a key tool for banks wanting to implement instant payments allowing for the rapid adoption of SCT Inst without the need for re-engineering existing payment systems.
Tom Hay, Icon’s Head of Payments
“IPF is a high-performance payment engine that captures Icon’s extensive experience. The SIAnet infrastructure provides secure network connectivity, and IPF handles the processing of the payments through its flexible integration with bank systems. IPF’s active-active processing model allows it to connect with multiple gateway instances to provide high availability and high volume processing. This connectivity testing ensures that IPF is fully compliant with the SIAnet network infrastructure and will provide banks with a ‘plug and play’ option for connecting to EBA Clearing’s pan-European Instant Payments platform.”
Tom Kelleher, Icon’s Commercial Director
“Our early participation in this connectivity testing is a further demonstration of our commitment to delivering highly resilient, scalable and flexible payment solutions. We feel that above all, SCT Inst is an opportunity for early adopters to launch game-changing products and grow new business and revenues. We are delighted to be supporting banks and other payment service providers on this journey.”
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The IPF SIAnet Gateway (IPF-SG) is a stand alone product that bridges the gap between the SIAnet Gateway in Europe and an organisation’s existing payments processing engine. SIAnet enables European banks to connect directly to EBA Clearing‘s instant payment service SCT Inst.
Like to learn more about how IPF-SG could enable your organisation’s move to instant payments?
Contact Us for more information.
About Icon Solutions
Icon is an independent award-winning payment and specialist technology provider serving global financial institutions. From IT strategy, architecture and design, to project delivery and software development, Icon enables institutions to rapidly capitalise on the latest innovative technology and market drivers to reduce costs, boost revenues, and ensure compliance with regulatory and industry standards.
The critical value Icon offers its clients, is the combination of deep subject matter expertise in instant payments, a proven track record in delivering bank critical systems, and a FinTech approach to the use of technology. This is evidenced by longstanding client relationships with some of the most important global financial institutions.
About SIA
SIA is European leader in the design, creation and management of technology infrastructures and services for Financial Institutions, Central Banks, Corporates and Public Administration bodies, in the areas of payments, cards, network services and capital markets. SIA Group provides its services in 46 countries and also operates through its subsidiaries in Austria, Germany, Romania, Hungary and South Africa. The company also has branches in Belgium and the Netherlands, and representation offices in the UK and Poland.
In 2016, SIA managed 12.2 billion clearing transactions, 4.3 billion card transactions, 2.8 billion payments, 47.4 billion financial transactions and carried 654.3 terabytes of data on the network.
The Group is made up of nine companies: the parent SIA, the Italian companies Emmecom (innovative network applications), P4cards (card processing), Pi4Pay (advanced collection and payment services), TSP (front-end services), and Ubiq (innovative technology solutions for marketing), Perago in South Africa, PforCards in Austria and SIA Central Europe in Hungary. The Group, which currently has over 2,000 employees, closed 2016 with revenues of €468.2 million.
For more information: www.sia.eu