SIA-SSB has designed and developed a technology infrastructure, called ‘Payment Institutions Easy Box’, which complies with regulatory and business requirements, in order to allow the new players to exploit fully the opportunities arising from new payment services by reorganising their business models.
This platform consists of a complete, integrated system based on a modular approach including all the payment services envisaged for payment institutions, as well as compliance and supervisory functions and further additional activities.
SIA-SSB provides the solution to payment institutions in software-as-a-service (SaaS) mode, which includes application management, facility management, back office and consulting, and is available in three different versions geared to the strategic approach chosen by each individual payment institution:
- A ‘basic’ version aimed at non-bank financial intermediaries who, during the initial phase will limit themselves to upgrading the system of notifications to supervisory authorities.
- An ‘advanced’ type of offering that is aimed at payment institutions who decide to manage also the payment accounts on which customers may carry out deposits and withdrawals.
- A ‘full’ version for payment institutions intending to offer some additional services (collections, credit transfers, card issuing, etc) as well as the functions included in the ‘advanced’ and ‘basic’ versions.
Payment institutions may make use of a single gateway to access networks and circuits at domestic and cross-border level and of a series of further value-added services, such as connectivity, multi-channel access and real time monitoring of transactions. Additionally, the solution complies fully with the security and service continuity requirements set out by the regulatory framework.
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