TOTAL PAYMENTS AN END-TO-END GLOBAL PAYMENT SERVICES HUB: ANY PAYMENT, ANYTIME, ANYWHERE

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1 TOTAL PAYMENTS AN END-TO-END GLOBAL PAYMENT SERVICES HUB: ANY PAYMENT, ANYTIME, ANYWHERE

2 2 FINASTRA Brochure

3 INTRODUCTION Delivering Value Across the Entire Financial Supply Chain Financial institutions have taken a renewed interest in transaction banking, seeing it as one of the few areas offering opportunities for stable and predictable growth Challenges and Opportunities Customer demand has driven the development of new payment channels including online and mobile and a widespread move toward real-time or immediate payments. Intensifying pressure to increase revenue and margins has driven transformation programs aimed at reducing operational and transaction costs through streamlining, automation and consolidation of systems. New national and international regulations have demanded better liquidity and risk management through improved visibility, control, and reporting. The emergence of new competition from non-traditional service providers has added another dimension to an already complex landscape. FINASTRA Brochure 3

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5 TOTAL PAYMENTS Finastra: The Only Fully Supported Financial Supply Chain Solution Finastra: The Only Fully Supported Financial Supply Chain Solution Intensifying pressure to increase revenue and margins has driven transformation programs aimed at reducing operational and transaction costs through streamlining, automation and consolidation of systems. Integrated Customer Support Integrated Channel Capture Any-to-Any Payments Retail Small Business ATM Mobile Tablet Internet Banking Instruments Wire Checks High Value Mass Payments Immediate Payments... Mid-Size Business Electronic Banking ERP Standards & Schemes SWIFT RTGS ACH Immediate Payments SEPA... Large Corporate Branches Direct Bank Ops Financial Institutions SWIFT Transaction Types Domestic Credit/Collections Cross Border Credit/Collections Credit Transfer Debit Transfer Cover Payment Remittances... Integrated Cash Management Workflow Core Payment Services 1 Instruction receipt, payment object creation & prioritization 2 Validation, compliance, repairs & storing 3 Clearing preparation notification & reconciliation (CMS Selection) 4 Authorization 5 Execution 6 Customer Services-Oriented Architecture (SOA): Integrated payment services delivered either within the Payment Services Hub or other services in the bank Embedded business workflows: Customizable business workflows incorporate other services without development Sophisticated monitoring and alerting Scalable: Reliable at large volumes Security: Compliance, acces controls and audit trails Bank Treasury Against this challenging background, the solutions offered by Finastra (formerly known as D+H) enable financial institutions and clearing schemes to manage payments of all types, within and across national borders, to and from any channel, with the highest degree of automation and straight-through-processing (STP). These offerings provide financial institutions and their corporate customers with full transparency and real-time visibility across the entire financial supply chain including payments, treasury services, financial messaging and merchant services. FINASTRA Brochure 5

6 TOTAL PAYMENTS End-to-End Financial Supply Chain Automation Finastra has helped thousands of the world s leading financial institutions and corporations use our products to achieve their transaction banking goals. Finastra supports the entire financial supply chain across payments, cash, financial messaging, payables and receivables, and channel distribution. Why Finastra? End-to-End Financial Supply Chain Automation Corporate Environment Corporate Treasury SWIFT for Corporates Payments Order Management ATM Mobile Tablet Internet Banking SWIFT Branches Direct Banking Ops Electronic Banking ERP Retail Banking Corporate Banking Investment Banking Banking Environment Transaction Banking Payments Treasury Services Trade Services Merchant Services Financial Messaging Treasury FX Liquidity & Risk Cards Regulatory & Compliance Document & Workflow CRM Customers & Accounts Loans & Deposits Financing Investments Middleware General Ledger Analytics Mutual Funds Insurance Operational Data Store Clearing House Clearing & Settlement System Clearing system Channel Capture and Automation Indicates Finastra Offering Corporate and Consumer Value-Add Solutions Core-Banking Automation: Global Clearing Regulatory Reporting and Executive Decision Support Finastra s Software Solutions Can Help Financial Institutions to: Modernize systems and improve operations to increase profits, control costs and drive efficiency Realize competitive advantage through innovative offerings and improved customer service Improve risk management and compliance through operational improvements and advanced tools Improve business decision making through increased transparency and visibility Manage liquidity through improved processes and systems, and consolidation of all payments transactions and liquidity events in one place automatically Ultimately supporting the entire financial supply chain across payments, cash, financial messaging, payables and receivables, and channel distribution 6 FINASTRA Brochure

7 The Challenges Today s payments businesses face many challenges. Financial institutions find themselves confronted by a number of significant hurdles, including the need to navigate a path through new payment channels, and to manage multi-currency and multi-product payment operations in many different countries. All this while offering superior customer service in a highly competitive and increasingly regulated environment, and meeting with growing pressure to increase revenues, reduce risk and lower overall operating costs. The Solution The good news is that the solution to these issues is at hand. Total Payments, Finastra s payments services hub solution, enables financial institutions and their business customers to manage and process payments, and transfer funds in local and international environments in a cost-effective, secure and reliable way. Put simply, the solution helps financial institutions of every size manage all types of payments, both within and across national borders. Total Payments achieves all of this by combining an extensive set of payment services including high-value payments, mass payments and immediate payments in a single payments hub. Based on a Services-Oriented Architecture (SOA), the solution s strict adherence to industry standards makes integration with a financial institution s existing technology infrastructure fast, easy and predictable. The use of SOA technology also leads to reductions in the complexity and cost of the firm s hardware and software. Using Total Payments, financial institutions can consolidate silos of legacy payment operations into a shared payment services hub that can be deployed globally yet controlled locally thus simplifying operations and reducing operating expenses. By connecting and orchestrating channels, legacy payments systems and their supporting back-office functions, the solution enables payment services to be coordinated and new products to be deployed quickly. A rules engine provides the flexibility to add new functionality in response to changing industry and customer requirements, without the need to change code. The benefits go even further. Total Payments modular configuration supports a step-by-step approach to transformation, allowing firms to respond to shortterm, immediate business or regulatory requirements. However, the solution also helps to lay the foundation for and build towards a fully integrated, end-to-end payment services hub solution over the long term. A single payment services hub offers end-to-end orchestration and processing platforms that can ultimately replace all legacy siloed processing engines. This allows a firm to capture all payment data all the way from initiation to delivery to connectivity to clearing in a single location, and perform rigorous checks while also mining and analyzing data to glean valuable business insights. Total Payments helps financial institutions of every size manage all types of payments, both within and across national borders. 95% A leading global European-based bank estimated Total Payments would meet 95% of its requirements out-of-the-box with no customization.this proved to be the case. Following implementation, the bank achieved its target of an STP rate of over 95%. FINASTRA Brochure 7

8 TOTAL PAYMENTS Total Payments: An End-to-End Payment Services Hub Total Payments allows institutions to consolidate silos of legacy payment operations into a shared payment services hub that can be deployed globally yet controlled locally. 4.6M At one UK-based bank alone, Finastra s immediate payments solution has supported 4.6 million payments in a single day. 70% Using Total Payments rules engine, clients can reduce development work by up to 70%, saving cost and increasing the speed of deployment. One large American bank has stated that today they can add a new feature to any product simply by changing a rule. Prior, such an enhancement would have taken 9 to 12 months. Total Payments Business Benefits Saves Time, Reduces Costs and Improves Operational Efficiency The solution brings together payments details for many different payment types and from multiple systems into a central payments hub. Information is consolidated into a single view, saving staff time and enabling significant reductions in the number of interfaces and systems requiring management and maintenance. As a result, the simplification of payments processing can be accompanied by dramatic reductions in IT costs. Also, interfaces and tasks can be customized, helping users to prioritize tasks and focus on only those things that require their attention. This means tasks can be streamlined and payments will move more quickly. Total Payments in production has boosted STP rates by over 30%, increasing overall rates from 60% to over 90%. Reduces Risk By reducing the number of interfaces, systems and stages in the process requiring manual intervention, Total Payments enables operational risk to be reduced dramatically. Additionally, the solution can be easily extended to incorporate more advanced liquidity and risk management capabilities. Improves Customer Service The solution brings a customer s backoffice payments functionality to its online experience through STP@Source a mechanism that enables banks to increase STP rates by engaging their customers as early as possible in the process. This means financial institutions can immediately validate payment information at the source, thus requiring less downstream customer interaction and creating a faster and more responsive service experience for customers. The solution also allows banks to give their customers the flexibility needed to make and receive payments quickly and easily in real-time at any time, 24x7. This enables banks to offer new, innovative services like Sweden s Swish and to increase the velocity of commerce. Total Payments also includes special features that allow banks to meet customers demands for real-time access to liquidity, as well as enabling them to carry out transactions closer to clearing deadlines, and have credits posted as quickly as possible. Enhances Decision Support The solution s dashboard provides mission-critical payments information in one consolidated view, allowing for easy monitoring and analysis of all aspects of the operation. The dashboard accumulates data over time and uses a baseline for normal behavior, issuing real-time alerts when abnormal trends are detected. This bird s eye view both in real-time and over time allows financial institutions to quickly and easily identify trends, avoid trouble spots and make informed decisions. Similarly, by readily providing only the most necessary and relevant information, the solution enables users to quickly assess the information they need to do their job, and make decisions without being distracted by information they don t need. 8 FINASTRA Brochure

9 Total Payments: An End-to-End Payment Services Hub Customer Channels Corporate Clients Bank Clients Branches Electronic Banking (ERP) Orchestration/Connectivity Channel Management Origination Validation Advising & Statement Validation & Enrichment FX Warehouse Core Payment Functionality Order Management Validation Routing Enrichment & Mapping Clearing and Settlement Straight-Through Processing Compliance Routing Posting Audit & Authorization Workflow STP Routing, Fees, & Validation Messaging and Advising ISO20022 Fed/NACHA SWIFT Account Derivation Fees Monitoring Orchestration/Connectivity Clearing Channels Check Clearing Networks ACH Networks Wire Networks Card Networks Payment Solutions for Financial Institutions High-Value Payments Enables banks to receive, process, and send wires, both incoming and outgoing, as well as clearing specific messages, processes, and practices. Supports RTGS payments in the Americas, EMEA, and APAC as well as cross-border correspondent banking payments via SWIFT, for example. Internet Banking Mobile Dashboard Bank Systems Total Payments Key Features Process Any Payment Type Automated processing of ACH, RTGS, SWIFT and real-time payments with high levels of STP. Channel-Agnostic Works with any channel for payment capture and management. Extensive Global Reach Supports widely used clearing and customer formats with tools to rapidly add additional formats as needed. Centralized Liquidity and Risk Management Provides a global view of liquidity using an automated system to manage counterparty liquidity risk. Comprehensive Workflows and Business Capabilities Mature and business Value-Added Capabilities Liquidity & Risk Management Orchestration/Connectivity Treasury ERP Transformation Reporting & Analytics General Ledger AML Interbank Networks Immediate Payment Networks feature rich set of workflows, with multi-currency and multilingual support for any geography, and multi-entity organizational structure that aligns with any operating model. Modern Platform Pure, vendor-neutral, SOA-based architecture designed to continually benefit from the infrastructure improvements without the need to change the business logic. Modular and layered design allows users to easily run major projects in parallel, without impacting one another or the core system. User Interface Users can control, simplify and streamline the experience and content to identify risks and prioritize tasks. Mass Payments Enables banks to receive, process, and send files that contain multiple payments, collection, and related transactions as well as individual transactions. Supports ACH payments in the Americas, EMEA, and APAC as well as bilateral and multi-lateral clearing arrangements. Immediate/Faster Payments Enables banks to receive, process, and send individual and bulk payments for schemes whose turnaround time, from issuance of a customer s original instruction to the bank s final response, must happen in near-real-time (seconds). Processes millions of faster payments per day across Europe, Asia and soon in the Americas. FINASTRA Brochure 9

10 TOTAL PAYMENTS Finastra s Payments Solutions are Designed to Bring Institutions into the 21st Century Total Payments offers a broad range of business capabilities. US $1T A major global financial institution chose Total Payments because it was flexible enough to deal with 21 countries and its 600 banking relationships. The solution went live in 14 months, implementing a platform to process over 450 million transactions, representing a value of U.S. $1 trillion in the U.S. alone. US $100M Through the elimination of legacy systems and improvements in operations, clients can save well over U.S. $100 million over a five-year period following the implementation of Total Payments. 50 Systems Worldwide Total Payments was implemented at one of Asia s largest banks in 14 branches across 12 countries in just one year. And as a result of implementing Total Payments, the bank has been able to retire over 50 systems worldwide. End-To-End Business Process A suite of services to create end-to-end business processes and enable end user selfservice capabilities. Open, Extensible Data and Processing Models Allows for rapid implementation and rollout of new products and features. Proven in the Most Demanding Production Environments Designed to highest standards of performance (low latency, high capacity, linear scalability) and reliability. Total Payments Business Capabilities Total Payments offers a broad range of business capabilities. These include: Payments Management and Execution Finastra s payments solutions are designed to bring institutions into the 21st century, and make them fully compliant with current requirements in as simple and cost effective a way as possible. By applying this approach, Finastra can help drive real savings in a very short timeframe. For financial institutions looking to organize or transform their payments operations, Total Payments saves time, reduces costs and improves operational efficiency. It delivers all these benefits by bringing together different payment types, currencies and systems into a single, centralized payments hub, increasing STP automation, and consolidating information into a single view thus reducing the need for multiple interfaces and systems. By increasing STP and reducing the number of interfaces, systems and manual interventions in the payment process, the solution drives a dramatic reduction in operational risk. And by giving financial institutions one consolidated view of all mission-critical payments information, it allows for much easier monitoring and analysis. This is crucial as businesses drive growth by offering customized and differentiated capabilities faster than ever before in weeks rather than months. Wholesale and Retail Total Payments offers solutions for wire and Automated Clearing House (ACH) processing and origination, cross border correspondent banking and all other payment instruments for both retail and wholesale customers. By automating payment validation and enrichment, checks on customer history, exposure management and the preauthorization of transactions, financial institutions can increase their transaction volumes while still keeping a firm grip on risk. Billing and analysis functionality, automated returns processing, sophisticated foreign exchange (FX) processing and automated debit blocking enable financial institutions to improve and extend their relationships with customers, keeping them informed through proactive information delivery and providing the flexibility to reward customers where appropriate through improved pricing. Using the solution, financial institutions can process account transactions faster and more dependably, and offer industry-leading business capabilities to a wide range of business customers from small and medium-sized enterprises to global multinational corporations. 10 FINASTRA Brochure

11 Liquidity and Risk Management Demand for intraday liquidity continues to grow as financial institutions and their corporate customers expand their operations into a wider range of markets across the world, boosting the volumes of both cross-border and domestic transactions. As a module of Total Payments, Finastra s liquidity and risk solution provides banks with the tools they need to address new intraday liquidity monitoring and measurements standards and meet the demands of new regulation, while also benefiting from significant competitive advantage through improved processes, systems and best practices for liquidity management. The solution automatically consolidates all payments transactions and liquidity events in one place, so that limit monitoring of inputs and settlements can be performed consistently and in real-time. It also includes sophisticated forecasting and planning tools that enable financial institutions to meet their payment obligations throughout the day as well as at end-of-day. Services When implementing mission-critical systems in today s competitive and unpredictable environment, firms do all they can to maximize returns on IT investment. Yet a shortcut or wrong turn at any stage can delay time-to-market, disrupt ongoing operations and reduce efficiency. This holds true across the transaction banking spectrum including payments, treasury services, financial messaging and merchant services. Finastra s Global Transaction Banking Solutions group can ensure customers avoid these pitfalls. Over more than two decades, we have helped thousands of the world s leading financial institutions and corporations use our products to achieve their transaction banking goals. Focusing relentlessly on maximizing customer satisfaction, our services team comprised of implementation services, customer support, and training ensures that customers implement our solutions successfully, and bring their staff and customers up to speed quickly and effectively. This support is maintained beyond implementation, so customers can optimize their investment throughout the lifecycle. Implementation Services A quick and efficient implementation helps customers realize the greatest possible value from their investment in the shortest possible time. Applying industryleading best practices and a field-proven methodology, the Finastra implementation services team manages every stage of the process, including: analysis, on-site implementation support, and static data and set-up; infrastructure design, sizing, installation, configuration and environment Finastra s services team helps customers to maximize their investment in the software by: Ensuring the best use of our products Building in best practices to minimize risk Transferring knowledge effectively and efficiently through training Delivering excellent customer service throughout ongoing operations maintenance; and testing and user acceptance. Each project leader ensures effective coordination of resources and transparency of communications, while managing the overall implementation to mitigate risks and bring it in on time and budget. Customer Support Finastra s Global Transaction Banking Solutions team of application support experts are available 24/7 to respond to technical and functional queries. This team has a solid track record of diagnosing and resolving issues quickly and helping FINASTRA Brochure 11

12 TOTAL PAYMENTS Finastra Uses Industry Standard Technology and Best-Practice Procedures customers maintain smooth day-to-day operations. Equally important, the team provides transaction banking customers with the information and advice they need to make informed, proactive and timely operational decisions. Training Finastra s comprehensive user training services can be tailored for end-users of all types (project team, super users and regular users) during and beyond implementation. Courses can be either off-the-shelf and focused on a particular product or business area, or specifically tailored to meet a customer s unique needs. Users can participate in a range of functional and technical courses, as well as certification programs ranging from beginner to experienced user. Training may be undertaken at Finastra training centers, at a customer location, or via webinar. More information can be found at Technology Advanced Finastra uses industry standard technology and best-practice procedures to provide flexible, reliable and cost-effective transaction banking solutions. These help solutions help firms to operate more efficiently and to respond to market, customer and regulatory changes in a faster, smarter way. Hosted or In-House Many of Finastra s products can be delivered either as in-house implementations, or as hosted or SaaS solutions that greatly reduce time and costs for the customer. Scalable Capable of processing anywhere from dozens to millions of transactions per day, Finastra s solutions can easily incorporate new entities, geographies, languages, time zones, currencies and products. Secure Our software has been tested and reviewed extensively by us and our customers. Our hosted solutions, security, disaster recovery and business continuity processes meet or exceed industry standards and regulatory guidelines. Flexible Finastra uses an open technology framework that enables easy integration within a customer s technology ecosystem and with other vendors solutions. This simplifies implementation and reduces the time and costs of on-boarding. Real Time In today s competitive environment, time is money. Finastra s solutions use state-of-the-art technology to enable our customers and, in turn, their customers to set up, execute and monitor their operations in real time. This enables proactive, informed and speedy decisions that grow their business. Blockchain Finastra s global payment services hub is integrated with blockchain distributed ledger technology. Financial institutions using our payment hub will be able to execute peer-to-peer client payments, utilize closed loop distributed ledger systems to connect bank networks, move money in real-time and improve access to liquidity, all while benefiting from the anonymity inherent in blockchain technology to ensure security and reduce risk. Experience Over many years of delivering solutions to banks, we have accumulated vast expertise in managing day-to-day transaction banking on a regional, national and global scale. We apply this knowledge to help customers address challenges and capitalize on opportunities in a practical and effective way. 12 FINASTRA Brochure

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14 TOTAL PAYMENTS We Help Our Customers Differentiate Themselves and Compete More Effectively Finastra s partners play an essential role in helping us provide comprehensive, innovative solutions that meet our customers changing needs. Our partner network provides the scalability and expertise we need to expand our coverage, extend our scale and develop deeper customer relationships. Partner Program Finastra s partners play an essential role in helping us provide comprehensive, innovative solutions that meet our customers changing needs. Working with our partners, we ensure mutual success by helping our customers differentiate themselves and compete more effectively. Our partner network provides the scalability and expertise we need to expand our coverage, extend our scale and develop deeper customer relationships. The network includes global and regional partners in technology and systems integration, and provides products and services that enhance or complement our offerings across all business lines and market segments. At a global level, Finastra works with leading consulting firms and systems integrators, whose domain knowledge and international presence help us to provide comprehensive, end-to-end transaction banking solutions. At a local level, we form business partnerships to provide our customers with the support, language and cultural understanding they need to get the most from our solutions. Finastra s flexible range of partnership options enables firms to forge a relationship with us that reflects their own business strategies and strengths. We have three categories of partner Consultant and System Integrators; Solution Providers; and Technology Providers across three levels of commitment: Platinum, Gold and Silver. This tiered approach ensures that the program meets everyone s needs most importantly those of our customers. 14 FINASTRA Brochure

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16 About Finastra Finastra unlocks the potential of people and businesses in finance, creating a platform for open innovation. Formed in 2017 by the combination of Misys and D+H, we provide the broadest portfolio of financial services software in the world today spanning retail banking, transaction banking, lending, and treasury and capital markets. Our solutions enable customers to deploy mission critical technology on premises or in the cloud. Our scale and geographical reach means that we can serve customers effectively, regardless of their size or geographic location from global financial institutions, to community banks and credit unions. Through our open, secure and reliable solutions, customers are empowered to accelerate growth, optimize cost, mitigate risk and continually evolve to meet the changing needs of their customers. 48 of the world s top 50 banks use Finastra technology. Please visit finastra.com North American Headquarters 120 Bremner Boulevard 30th Floor Toronto, Ontario M5J 0A8 Canada T: Finastra and the Finastra ribbon mark are trademarks of the Finastra group companies Finastra. All rights reserved. US 342 / 0917