Real-time payment is the New Norm

Real-time payments continue to be a global trend because of changes in the world around us. However, speeding up payments is not just about providing ease and convenience to consumers or speeding up collections. In corporate payments, real-time funding can, for example, accelerate the release and delivery of goods from global trading partners.

Women smiling and looking at laptop

Leading banks claim that adopting real-time payments underpins even true digital transformation and the move towards Open Banking.

There are national domestic real-time payment schemes in the countries with local currencies in our region (CZK, HUF, for example), as well as international real-time payment schemes such as SEPA SCTInst for EUR.

In Europe, the European Commission sees sending and receiving payments as a key to the development of a single market for retail payments. The Commission's vision is that an EU solution for real-time cross-border payments would make the EU more efficient and autonomous, moreover even complementing existing card schemes. To speed up this process, a new proposal for regulation in this area was issued by European Commission in November 2022, which would force banks in the EU to offer mandatory SEPA instant payments and – moreover – at no extra cost.

EU banks now need to think about the readiness of their payment systems for this situation and – perhaps – upgrade those systems before this regulation goes live.

Key challenges

Real-time payment processing differs significantly from traditional schemes. Most of the payment systems and hubs implemented over the last decades need to be upgraded. However, simply upgrading these legacy batch systems or creating dedicated converters to process real-time payments can lead to future performance, availability and security issues. This is especially true as the volume of real-time payments is expected to increase significantly.

CGI has developed CGI Instant Payments to address these challenges. Financial institutions and corporates have everything they need to succeed with real-time CGI Instant Payments.

CGI Instant Payments offers several deployment options to help you choose the best scenario for your organisation. CGI Instant Payments can be deployed as a standalone component alongside your existing payments ecosystem, or it can be used as a foundation for more thorough revamp of the legacy payment infrastructure by means of complete CGI All Payments System.

Consultant working with monitor
Tab and laptop

A scalable real-time payments solution with market-leading performance

The CGI Instant Payments system enables banks to efficiently process payments in real-time, and thanks to its high scalability and availability, the solution is ready for the gradual growth of the bank or just the surge of payment processing requirements, typical for the end of the month or the pre-Christmas period, for example.

The functional and especially non-functional parameters of CGI Instant Payments place this product among the absolute world leaders in this segment.

 

CGI Instant Payments highlights

 

 

Excellent Time to Market parameter
  • Typical end-to-end delivery can take 6-9 months
  • The time can be shortened in certain circumstances, for example, we helped one Czech bank to become SEPA compliant in less than 4 months
High level of customer satisfaction
  • Thanks to the quality of CGI Instant payments solution, the average client satisfaction score for the past 10 years has measured consistently higher than 9 out of 10
Market-leading transaction processing performance
  • Bulk transactions: Over 50M tx. being processed daily in the live environment (benchmarked at 40M/hour)
  • Instant payments: Hundreds TPS processed in the live environment (benchmarked at 8.000 TPS)
Proven at the market
  • The CGI Instant Payments product is an existing and proven solution that works in the most challenging conditions with market leaders
  • It supports several payment schemes in the regions of Europe and Asia respectively our customers are leaders in their own markets
  • Long-term customer support - all our installations are live, and continuously upgraded, incl. legislation changes
Customer
En kvinna och en man i ett konferensrum framför en dator

Key Capabilities

The member of the suite of CGI’s cutting-edge products for banks

  • Pre-integrated with CGI’s Anti-Financial Crime solution CGI HotScan36

 

Proven in the market
  • Our customers are leaders in their own markets
  • Supports multiple payment types
  • Easily integrated with existing customers’ solutions
  • Flexible deployment options
  • Covers multiple legal entities
Scalability, Speed & Resilience
  • High performance
  • Elastic scalability
  • Low latency processing
  • Zero-downtime deployment
  • 24×7 availability
Different integration options
  • Rich set of connectors and interfaces for different formats or technology standards
  • Scheme relevant validations
  • Data enrichments
On-premise & Cloud Readiness
  • Supports multiple cloud platforms and operating systems

About us

CGI was one of few SEPA frontrunners who went live in 01/2008, our APS was one of the first products certified for both SCT and SDD

Download our whitepaper