Centralizing Payments with Oracle Banking Payments

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1 Centralizing Payments with Oracle Banking Payments K E Y F E A T U R E S Unified and Standardized Processing Global, Multi-Currency, Multi- Entity, Multi-Standard Coverage for Corporate & Retail Payments ISO Multi-host system with time-zone support Multi-channel support using ReST/SOAP services Rule driven services for validation, enrichment and exception management increasing STP Agility to operate with any payment type, format, source and channel Includes exception & Investigation mechanism Offers audit trail for compliance and risk management Payments dashboards A hyper connected world powered by state-of-the-art technologies is changing the way consumers and businesses make payments. As a result, the global payments landscape is rapidly evolving to meet modern payment needs. Retail consumers expect immediate payments which offer instant gratification and convenience. Whereas corporations expect high speed, low cost, quick time-to-market and a unified payment process setup from their partners. Driven by digitization, newer players are emerging in the payments landscape challenging incumbents. They offer greater convenience, personalized service, higher rewards, and greater efficiency than traditional players. So, despite the higher transaction volumes generated by retail consumers and globalized businesses every day, banks face increased pressures of competition and profitability. Banks also face headwinds from evolving standards and regulatory framework supporting the growth of open and advanced payment processing systems. Besides these external challenges banks are also grappling with internal operational complexities, siloed structures, multiple payment processes, managing different messaging standards, and a disharmonized payments infrastructure. Oracle Banking Payments is designed help banks transform their payments infrastructure to meet both external and internal challenges.. Oracle Banking Payments supports ISO 20022, delivers real-time capability, and lowers cost per payment as suitable for both retail and commercial needs. Payments Processing for Retail Banking Oracle Banking Payments offers comprehensive transaction processing support for payment needs of retail customers for both domestic and international payment transactions. Providing an effective interface between product systems and payment networks, the solution offers efficient processing of transactions initiated through channels such as POS devices, online gateways or ATMs. Oracle Banking Payments offers a mechanism to meet the expectations of customers who want seamless experience and instant gratification.

2 K E Y B E N E F I T S Reduce costs Improve risk management and compliance Real time capability Ability to cater to international and local transaction needs Minimal implementation time Simplify operations through centralized functions Enhance customer experience with greater transparency in payment processing Accommodate changes easily with different processes and timelines Enforce standardization in process and payment products Payments Processing for Corporate Banking Whether it is transactions related to RTGS, salary disbursements, taxes, or corporate internet banking, Oracle Banking Payments offers comprehensive transaction processing support for all corporate banking requirements. It also supports transaction requirements for international banking with exceptional cross border capabilities, which enables banks to fulfill complex regulatory requirements in different countries and regions. Support for SWIFT payments helps deliver faster international money transfer services. The solution offers real-time solutions and is enabled for multi-currency operations. Built Grounds-Up Leveraging ISO Standard Messaging Framework The system supports end-to-end processing which use different formats across geographies. It enables straight through processing at a lower cost, reduces complexity, and provides a universal plus data rich set of instructions for all payments. It offers seamless control over payments data for analytics and fraud prevention. It also reduces time-to-market new services Designed to Transform Peripheral and Siloed Payment Systems The system is designed to simplify a disharmonized and disaggregated payment infrastructure. It provides support for centralized payment processing and monitoring. It helps cut down operational cost and improve straight through processing. Financial institutions can gain visibility into liquidity position throughout the day and offer an integrated platform for all types of payments. Built for Anytime/Anywhere, Real-Time and Immediate Payments Experience The system provides support for real-time payment settlement into the account. It helps achieve frictionless and responsive commercial transactions. The system allows for faster reconciliation and instant credit availability, providing better financial control and accuracy in liquidity. It improves credit risk and treasury management Supports Multiple Modes of Payments Cross Border Processing: The Cross-border module of Oracle Banking Payments provides out-of-the-box support for processing incoming and outgoing SWIFT Payments. This module processes funds transfer transactions between financial institutions based anywhere across the globe. The module also processes SWIFT payment transactions initiated by an operations user from the in-built user interface or by customers in the bank s customer channels like internet banking or mobile banking. The payment instructions initiated from the bank channels are received by Oracle Banking Payments through ReST or SOAP based interfaces. 2 DATA SHEET CENTRALIZING PAYMENTS WITH ORACLE BANKING PAYMENTS

3 Domestic High Value Payments (RTGS) The solution supports end-to-end processing of outgoing and incoming SWIFT based RTGS payments. It is possible to process an inward pass-through SWIFT payment message as an outbound RTGS payment or vice versa. SWIFT FIN Y-Copy and settlement notification messages are also supported. Out-of-the box support for TARGET2 is available. Faster Payments Faster or Immediate Payments schemes are now being implemented by countries across the globe to enable banks in meeting customer demands for immediate transfer of funds from one account to another across banks, with certainty, convenience and at a low cost. Oracle Banking Payments is a highly scalable solution thatcan process high transaction volumes and provide very high availability. Domestic Low Value Payments (ACH) The system supports Automated Clearing House Networks which facilitate transmission and settlement of electronic payments originated by individuals, businesses, financial institutions and government organizations. Domestic low value payments are local payments or payments limited to a specific region. Out-of- the box support is provided for SEPA Credit Transfers in EBA STEP2 format Book Transfer Funds can be transferred between two accounts of the same bank. Account to account transfers can be initiated as single payments or can be initiated as a part of bulk file uploads. Direct Debits A direct debit is a financial transaction initiated by the creditor via its bank (the creditor bank) to collect funds from a debtor's account with a debtor bank, as agreed between the debtor and creditor. Direct debit transfers can include consumer payments on insurance premiums, mortgage loans, and other kinds of bills. Out-of-the box support is provided for SEPA Direct Debits in EBA STEP2 format. Functions Supported by Oracle Banking Payments: Exception Processing After validation of payment instructions, if any exception is encountered during processing, payment transactions are moved to a queue specific to the type of exception. Actions which can be performed on a payment that is pending in a queue are predefined resulting in either as a completed transaction or declined. Pricing A common pricing subsystem is provided, which can be accessed by all payment types. Charge/tax can be configured with varying values for a payment initiating channel or customer category as a fixed amount /rate based on transaction amount slabs. It is possible to liquidate the charges online or on predefined frequencies as configured for the customer. 3 DATA SHEET CENTRALIZING PAYMENTS WITH ORACLE BANKING PAYMENTS

4 Messaging System supports rule based routing of SWIFT MT messages to folder/queue destination. System also supports bulking of SWIFT MT messages. Bulked message can be handed over to folder/queue or to SWIFT Net through SAG with File Act protocol FTA. System provides SWIFT Net connectivity framework to receive and send the SEPA payment files to/from SWIFT Net through SAG with File Act protocol FTA. Bulk Files Processing The payment solution supports processing of bulk files received from corporate customers. Uniform/Mixed workload received in a single file can be processed if the payments are to be transmitted in any of the following payment modes: Domestic Low Value Payment (ACH) Domestic High Value Payment (RTGS) Cross-border Payment Book Transfer Rule driven setup is available for deriving appropriate networks and payments types. Consolidated debit can be passed for network based batches. External System Interfacing It is possible to interface with external systems for: Sanctions screening FX Rate Fetch and Feeds External Credit Approval and Account Validations Accounting Feeds Dashboard Facility is provided to integrate information from multiple screens and queues and display the date in a dashboard on the home page. This dashboard provides a comprehensive and consolidated snapshot, for easier ways to access information which helps the bank users to analyze, monitor and process information accordingly which saves time and cost. Dashboard screen is developed for payment transactions that display the corresponding transaction counts across all payment types with their appropriate status. Queue Dashboard is provided for monitoring the number of pending transactions in various business/processing queues. 4 DATA SHEET CENTRALIZING PAYMENTS WITH ORACLE BANKING PAYMENTS

5 C O N T A C T U S For more information about Oracle Banking Payments, visit oracle.com or call ORACLE1 to speak to an Oracle representative. C O N N E C T W I T H U S blogs.oracle.com/financialservices facebook.com/oraclefs twitter.com/oraclefs oracle.com/financialservices Copyright 2017, Oracle and/or its affiliates. All rights reserved. This document is provided for information purposes only, and the contents hereof are subject to change without notice. This document is not warranted to be error-free, nor subject to any other warranties or conditions, whether expressed orally or implied in law, including implied warranties and conditions of merchantability or fitness for a particular purpose. We specifically disclaim any liability with respect to this document, and no contractual obligations are formed either directly or indirectly by this document. This document may not be reproduced or transmitted in any form or by any means, electronic or mechanical, for any purpose, without our prior written permission. Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners. Intel and Intel Xeon are trademarks or registered trademarks of Intel Corporation. All SPARC trademarks are used under license and are trademarks or registered trademarks of SPARC International, Inc. AMD, Opteron, the AMD logo, and the AMD Opteron logo are trademarks or registered trademarks of Advanced Micro Devices. UNIX is a registered trademark of The Open Group. 0817