Instant Payment – Speed is everything
Frankfurt a.M. / Prague, 08 January 2019: The Czech bank Česká spoitelna gives its customers the opportunity to process payments in real time. The financial institution, a subsidiary of the ERSTE Group Bank AG in Vienna, is thus the first bank in the Czech Republic which provides instant payments. This innovative service is made possible thanks to the Real Time Payment Engine, a software provided by Dion Transaction Solutions, a valantic specialist for financial software solutions having a successful long-term cooperation with the Česká spoitelna.
Nowadays, e-mails and messages sent via messaging services reach their recipients, even on the other side of the world, within a few seconds whereas money is usually transferred at a significantly slower pace. Currently, financial institutions have one day for performing bank transfers. Prospectively, instant payments may revolutionise payment transactions likewise the e-mail already did with the forwarding of messages. Česká spoitelna has already arrived in the future and with the Real Time Payment Engine by Dion and valantic, the bank gives its customers the opportunity to process payments in Czech crowns in real time. Therewith, the two companies have achieved an important milestone as planned.
valantic“s Real Time Payment Engine (RTPE) is an open, modular structured payment hub solution. Apart from instant payments, it supports the processing of other payment types such as, for instance, SWIFT or SEPA. By integrating different payment channels – such as e-banking, manual recording of payments of payments via third-party providers – the RTPE is particularly versatile and highly flexible. In addition, the software working in real time comprises numerous gateways, is characterised by its multi-channel and multi-instrument capability and can easily be adjusted to country- and bank-specific requirements. Thus, all payment transaction services which may arise in a bank can be processed out of one central hub.
Bohuslav olta, COO of Česká spoitelna emphasises the importance of real-time payments for the Czech bank: „We built a platform which allows processing of instant payments as standard payments in a scale and volume needed for the biggest bank on the Czech market. Thanks to the successful implementation of the new payment solution, we have extended our position as innovation leader in the area of real-time readiness for payment processing.“ Silvia Mazánová, Tribe Lead, Real Time Payments System Tribe, Česká spoitelna, is also highly satisfied: „We had a clear objective: Increasing the efficiency regarding the processing of payment requests. In this context, we have been working together with our partner Dion, which now belongs to valantic, for several years in order to flexibly and quickly overcome the different challenges in the payment section. The implementation of the solution components of the Real Time Payment Engine has been very target-oriented. The modular design of the payment solution excellently matches with the complexity of our internal application environment.“
Jürgen Dahmen, Managing Director at Dion Transaction Solutions, points out the software performance: „We are proud to further develop the cooperation with Česká spoitelna and to ensure and constantly expand the bank“s competitive position by means of the RTPE“s modular system architecture. Thanks to the scalability and high availability, the software is able to manage any volume in a 24/7 operation mode.“
About Česká spoitelna
The Česká spoitelna is based in Prague and is the biggest commercial bank in the Czech Republic. Since 2000, the financial institution, which was founded in 1823, belongs to the ERSTE Group Bank AG. In the Czech Republic, the Česká spoitelna employs about 10,500 employees and with a balance sheet total of 33.7 billion EUR and about five million customers, it is market-leading in various business sections.
About Dion Transaction Solutions
Dion Transaction Solutions is known as a globally leading supplier for high-performance software solutions in the sectors of payment and money market transactions as well as securities and derivatives transactions. Dion supports its clients on their course for growth by means of standardised or customised solutions in the field of digitalisation, open banking, automation and simplification of business operations. Dion“s IT and business know-how is the basis for software solutions which continuously simplify the handling of complex and heterogeneous data landscapes/IT architectures and thus, ensure the compliance with regulatory requirements.
Dion belongs to valantic, one of the fastest growing providers for trendsetting IT solutions, standard software and consulting services in Europe.
valantic is the number one provider of digital transformation services and belongs to the fast growing companies involved in digital solutions, consulting services and software on the market. valantic combines technological competence and industry expertise with humanity. More than 800 customers trust in valantic“s – 19 of 30 DAX corporations and just as many of the leading Swiss and Austrian corporations.
With more than 700 specialised solution consultants and software developers and an annual turnover of more than 100 million Euro in the DACH region (Germany, Austria and Switzerland), valantic is represented in 14 locations. valantic is organised in a unique structure comprising several competence centres and teams of experts – always focusing on the digitalisation needs of their customers and partners. From strategy to concrete realisation. The service portfolio comprises the fields of trading solutions & financial services, IT strategy, customer management & commerce, business and predictive analytics, SAP/ERP consulting, enterprise software, as well as logistics and supply chain management.
About valantic Trading Solutions AG
valantic Trading Solutions AG is an innovative software and IT services provider headquartered in Magdeburg. For over 18 years, we have been developing future-oriented IT solutions for the national and international banking and finance sector. Our customers rely on a close and cooperative partnership as well as the professional know-how of our approx. 150 IT and financial specialists at locations in Magdeburg, Frankfurt/Main and Munich.
We belong to valantic, one of the fastest growing providers for trendsetting IT solutions, standard software and consulting services in Europe. With more than 600 employees at 15 locations, a unique and flexible organisation as well as operative excellence, we meet the central challenges of the digitisation.
In December 2014, the previous icubic AG became part of the DABERO Service Group and changed its name to valantic Trading Solutions AG in November 2017.