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"Bottomline's Universal Aggregator IQ has provided an opportunity for us to improve operational resilience, overcome regulatory compliance challenges and scale up quickly to address evolving changes in the market."

- Narongrit Promfai, Vice President - Investment/ Core Banking System, Kiatnakin Phatra Bank

Connectivity

Current pain points for cross-border payments

Unpredictable processing and resolution time

Each Correspondent party may have different SLAs to process

When Issue arose – needed to wait for other party to respond or further chasing needed

Mounting numbers of inquiries

As number of payments grow, so did number of queries

Competing technologies of traceability

Increasing frustrations and delays

Multi-hops meant could not give exact update on progress or when payment due to be received

Sending/Beneficiary Banks not able to provide visibility to their own customers on payments

Strained customer and counterparty relations

Both parties blaming each other for the delays

Customer caught in the middle

SWIFT Connectivity – SWIFT gpi and Universal Confirmation

4275+ financial institution signed up to SWIFT gpi as if February 2022. 1830 gpi members are ‘live’ with gpi credit transfers covering 151 of the world’s 180 currencies. Every day 1 million cross border payments worth $493bn are sent over gpi across 2940+ country corridors.

Bottomline’s SWIFT gpi for API solution provides seamless integration to the SWIFT Observer, Directory & Tracker reducing previous issues for transparency, tracking, reconciliation, cost and overall efficiency.

The gpi Observer: Monitors whether gpi members are following the rules set out in the SLAs (for example, ‘Are you making funds available on the same day?’ and ‘Are you providing transparency of fees?’). (EYES)

The gpi Directory: Shows what Banks/BICS/Currencies are on GPI (MEMORY)

The gpi Tracker: Ensures traceability, transparency and completeness (Beating HEART of GPI)

Access the SWIFT APIs for gpi via the Bottomline API Gateway - single window, managed service – for easier and faster implementation

View Fact Sheet  Deep dive

Visa B2B Connect integration available via Bottomline APIs 

Visa B2B Connect is an innovative multilateral network that builds on Visa’s reputation and expertise, delivering B2B cross-border payments that are predictable, secure and cost-effective for financial institutions and their corporate clients.

As part of the Visa – Bottomline partnership, we provide cloud-native, API-based implementation of Visa B2B Connect. It is completely integrated with your existing payments infrastructure and 100% interoperable with SWIFT flows. As such, we are uniquely placed to offer banks a seamless and elegant solution for all cross-border payment flows.

Runs alongside your swift operations

Simple contracting options

3 months to go live

Download Fact Sheet  Deep Dive

Real-Time/Instant/Faster Payment systems and schemes

Bottomline has a recognised heritage in providing innovative payment solutions for Banks and regulated Financial Institutions. Acknowledging the need for Real-Time Payments capability is critical in today’s market to keep up with consumer demand, and Bottomline is the only provider to have built a solution suite to support all connection methods to Faster Payments: Direct, Connect and Express.

The Real-Time Payments solution suite is an addition to Bottomline’s portfolio of comprehensive payment solutions for Bacs, SWIFT and SEPA, providing a universal aggregator platform covering all payment types.

 

UK Faster Payments scheme

View Fact Sheet  Deep dive

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New Payments Architecture Update

Marcus Hughes, Head of strategic business development from Bottomline, and Richard Ransom, Strategic Customer Success Manager from Bottomline discuss the structure and plans of the new payments architecture (NPA). This episode covers basics like what's happened in the re-design of NPA, the new timetable, the exciting prospect it will bring along, etc

Listen to Podcast

 

UK Faster Payments (New Payments Architecture)

2021 saw Faster Payments break the record for the highest amount of payments processed in a single year.

2020 saw 2.9 billion payments processed, whereas in 2021 the figure grew to over 3.4 billion.

In total, there were 568 million more payments processed than in 2020. This is an increase of 20%.

Faster Payments broke the record in 2021 for the number of payments processed in a single year.

2.1 trillion was transferred via Faster Payments in 2020. In 2021 however, over £2.6 trillion was transferred.

In total, the amount processed in 2021 rose by £496.7 billion compared to 2020. This is an increase of 24%.

Source: Pay.UK

Instant Payments – SEPA Inst (RT1 & TIPS) & SIC 5 Instant 

Delivering access for both Message and Payments Services, and Connectivity via SWIFTNet Inst for RT1 & TIPS and SIC 5 Instant. Centred around our Universal Aggregator IQ single SaaS platform solution that leverages multiple gateways, Bottomline’s Instant Payments services can be wrapped around any Instant Payments scheme to deliver speed-to-market, adherence to all scheme compliance and full access to orchestration & payments services.

Read Report

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Use case - SEPA Inst 

The SEPA Inst standard (SCT Inst) has been ‘live’ since 2017 and is already used by several schemes, banks, and service providers. However, the European landscape remains fragmented with various local schemes having different rules and a very domestic approach, preventing a harmonised and wide reach of Instant payment across the borders within Europe. More recently, both TIPS and EBA RT1 have built a pan-European approach with a great reach where it is now possible to achieve a single instant payment area in the Eurozone. Recent declarations from the EU council about the plan to regulate – and possibly to make compulsory - the use of Instant Payments should dramatically speed up adoption in order to reach the required critical mass for true success. This the reason why Bottomline is focusing on delivering access for both Message Services, Payments Services, and Connectivity via SWIFTNet Inst – a proven and reliable network well known by the banks - for both RT1 and TIPS. Other connectivity options are also on our future road-map including P27, so watch this space. 

 

Use case - SIC 5 Instant 

In Switzerland, the need for a modern and state-of-the art platform for Instant Payments has already been widely recognised and understood. So much so, that a renewal plan for the domestic payment platform has been issued by SIX in conjunction with the Swiss National Bank. This initiative called SIC 5 aims to renew the current RTGS platform used by 246 banks in the country, whilst also introducing a brand-new Instant Payment rail in parallel. Unlike the EU landscape at this stage, SNB & SIX are making the usage of Instant Payments compulsory - they announced that all banks with 500’000+ SIC messages in 2020 must be ready to process incoming SIC IP by August 2024. It will then become mandatory for all SIC participants by 2026. The planning for SIC IP service corresponds to a ‘technical go live’ in November 2023 and a ‘market go live’ in August 2024. Testing should start no later than mid-2023 for early adopters and so yet another date for your strategic diaries.

Download Fact Sheet

Real-Time Payments Express business benefits

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Quick and cost-effective integration

With integration into the UK Faster Payments ecosystem, the Express service makes payments immediate and convenient.

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Future overlay services

Provides access to a range of future overlay services designed to keep customers at the cutting edge of the industry.

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Confidence and stability

Bottomline has a 99.99% record of availability for its gateway services; providing confidence and stability when accessing the Faster Payments Scheme.

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Simple and cost-effective interface

The API enables new financial products to be developed quickly and efficiently without the need for complex legal agreements.

Messaging and Message Storage

Bottomline ISO 20022/ CBPR+ and the Transformation and Enrichment Service for SWIFT & Market Infrastructures

Reduce total cost of ownership and time to market by providing flexible and secure integration with back office environments, mutualization of services and compliance with all technical and regulatory requirements, such as ISO 20022 migration. We offer customers 'On Prem', Hosted or SaaS-based solutions.

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Benefits of ISO 20022 & The Transformation & Enrichment Service

Convert MT to MX and MX to MT.

Mitigate truncation risk.

Leverage market infrastructure mappings.

Receive automatic payload detection.

Access Custom Mappings.

Benefit from transformation retrieval via token id.

Consolidate custom data retention integration with the Bottomline Message Vault overlay.

View Fact Sheet

How can ISO 20022 benefit your business?

Supports transparency & interoperability for domestic & cross-border payments

Lowers operating costs

Provides data insights to improve customer payments insight

Increased automation & less manual intervention

Richer customer data which helps with reconciliation & enhanced fraud capability

Creates new revenue streams through digital overlays

Improved customer service and ability for clients to self-serve

 Deep Dive

Bottomline Message Vault

A globally accessible repository, enabling complete visibility over all financial messages, turning data into insights

The Message Vault offers a high-performance search, retrieval and export capability for all financial messages, accelerating the data strategies of organisations.

The cloud-based solution allows your organisation to readily manage the ever-increasing availability of payment information across different networks, payment channels, banks, formats, and clearing institutions. Users can rapidly discover the information their business needs through a secure model that can be leveraged by any network or platform through open APIs.

Download Fact Sheet

Universal Aggregator IQ

Universal Aggregator IQ

Single SaaS API enabled platform for payments, securities and messaging

Explore
Payments and Cash Aggregator

Payments and Cash Aggregator

Cash Positioning, Liquidity Management

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Securities Aggregator

Securities Aggregator

Securities Management & Settlement (SRD II & CSDR)

Explore
Fraud & Financial Crime Management

Fraud & Financial Crime Management

Risk Management (CoP, Watchlist Screening, SWIFT CSP, Internal Fraud)

Explore
Data and Analytics

Data and Analytics

Operational efficiency and business insight

Explore

Don’t just take our word for how we can transform your strategy

Explore various customer use cases for how Bottomline Financial Messaging Universal Aggregator IQ has impacted their institution:

Kiatnakin Customer Success Story

“Bottomline’s UA system has provided an opportunity for us to improve operational resilience, overcome regulatory compliance challenges and scale up quickly to address evolving changes in the market.”

- Narongrit Promfai, Vice President – Investment / Core Banking System

Read Full Story

“DGB Bank PLC (DGB) is implementing a new core banking system. Due to the tight timelines, as well as previous difficulties in becoming a SWIFT member, we chose to outsource to Bottomline. The experience of onboarding to Bottomline’s hosted Universal Aggregator solution was straightforward, quick and seamless with the great assistance of the Bottomline project team to help with queries and the end-to-end process. The solution, alongside Bottomline’s Secure Payments and SWIFT CSP service, allows us to focus on the bank’s core business operations, whilst minimizing the risk of payment fraud.”

- Sieng Kimhong, Chief Information Officer

Read Full Story

DGB Bank Customer Success Story
BMCE Customer Success Story

“BMCE Bank International are a long-standing client of Bottomline’s and are very pleased with the service we have been provided with for several years now. The level of governance and regular interaction the bank has with Bottomline ensures a close working relationship and that we are kept updated with the latest payment and industry developments."

- Colin Janes, Head of IT

Read Full Story

“Bottomline helped us achieve our objectives successfully. With effective project management, Bottomline was able to deliver the agreed business requirements within the BSP deadline, in fact, way ahead of the BSP deadline.”

- Rodel Garcia, Head of the Fund Transfer Department

Read Full Story

EastWest Customer Success Story

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