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Text Content

Get in Touch
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PAYMENTS HUB PLATFORM

PS-PayHub



ProgressSoft’s Payments Hub is an advanced, full-fledged platform that handles
all payment types and consolidates payment modules to act as a single
orchestrator for transaction management. It offers a multi-tenant setup through
one centralized enterprise platform that supports banks’ entire payment types
across different countries and regions, subsidiaries and corresponding financial
institutions.

The advanced platform is a Cross-Border Payments and Reporting Plus (CBPR+)
ready solution that assists financial institutions in migrating to ISO 20022
with minimal to zero changes on back-end systems.

Get in Touch



FEATURES


SWIFT COMPATIBLE SOLUTION

PS-PayHub has been awarded the Swift Compatible Application Payments label for
2023. It is compliant with MT and ISO 20022 usage guidelines, market best
practices, CBPR+/MT message standard validation, reconciliation, workflows, user
interfaces, and additional Swift requirements.




CBPR+ READY SOLUTION

PS-PayHub is a Cross-Border Payments and Reporting Plus (CBPR+) ready solution
that supports native CBPR+ messages workflows and guidelines. It includes
embedded charges, fees, and correspondent management modules, enables processing
payments with minimal manual intervention, and supports centralized, hybrid,
native and translator ISO 20022 migration approaches.


SWIFT GO READY SOLUTION

PS-PayHub is a Swift Go ready solution that enables implementation of fast and
competitively priced low-value payments for both gpi and non-gpi financial
institutions. It includes an embedded API for initiating, monitoring and
receiving Swift Go payments that can be utilized for mobile and online banking,
guaranteeing minimal to zero changes on back-end systems.




MORE FEATURES


COMPLIANCE AND SUPPORT

PS-PayHub supports all types of message processing, integrates with Swift’s
Relationship Management Application (RMA) and interacts with FIN and FINplus
services. It also complies with Swift’s customer security program, SWIFTRef
practices, and anti-money laundering standards. This is in addition to
supporting the market infrastructure closed user group and offering gpi
implementation.


MULTI-TENANT ENTERPRISE PLATFORM

PS-PayHub is a multi-tenant platform that provides financial institutions with
one centralized platform for their subsidiary banks, branches and offices across
different countries and regions, while addressing local market infrastructure
rules and regulations.


PAYMENT TYPES

PS-PayHub supports all types of payments including account-to-account, single,
bulk, deferred, instant, domestic and cross-border payments, along with
real-time, post-dated and standing orders. It also supports serial, cover and
turnaround payments processing, posting and forwarding including integration
with FX systems.


PAYMENT NETWORKS

PS-PayHub enables financial institutions to integrate with different payment
networks to rollout new corridors with correspondents with minimal impact on
back-end systems. This includes Swift MT/CBPR+, Swift Go, RTGS, ACH, Billing,
Ripple, Visa, Mastercard, Western Union and more.


SMART PAYMENTS ROUTING

PS-PayHub performs end-to-end orchestration for any outgoing to incoming payment
and directs it through designated process flows, validation rules and
destination networks. It applies a set of validations to find the optimal route
for outgoing payments based on defined parameters and service-level agreements
per correspondent, currency, defined cross-border medium, or other.


CONSOLIDATED REPORTS AND DASHBOARDS

PS-PayHub presents sophisticated reports, dashboards and statistical information
that offer full visibility over processed payments and messages with rich
filtering mechanisms.


CORRESPONDENT MANAGEMENT

PS-PayHub enables the financial institution to define its correspondent banks
and corporate customer details including type, nostro and vostro accounts, IBAN,
and more information to enable straight-through processing for payments.


CHARGES, FEES AND FX

PS-PayHub automatically calculates charges associated with payments. It also
enables the financial institution to define specific schemes that will be
utilized by the system automatically during message processing. The solution can
be integrated with third-party FX systems to execute currency conversion as a
part of the message processing.


SERVICE-LEVEL AGREEMENT MANAGEMENT

PS-PayHub is designed to handle different correspondents for financial
institutions with different countries and currencies. Each correspondent has its
own agreed-on terms of working hours, weekends and holidays, time zones, average
processing time, countries coverage, accepted currencies and implied fees and
charges.


OMNICHANNEL INTEGRATION

PS-PayHub avails open Application Programming Interfaces (APIs) for integration
with all omnichannels including online mobile and corporate banking applications
as well as mobile wallets and branch automations. This allows clients to easily
initiate, submit and inquire about payments, and financial institutions to
effectively handle and conduct those payments.


THIRD-PARTY SYSTEM INTEGRATION

PS-PayHub contains a set of microservices designed to integrate with third-party
systems such as core banking systems, treasury and Foreign Exchange (FX)
tickers, Anti-Money Laundering and Combating the Financing of Terrorism
(AML/CFT), and sanctioned list screening systems.


DIGITAL LEDGERS AND CURRENCIES

PS-PayHub accommodates for both e-money and digital currency such as digital
wallet transactions, or bank-to-bank digital ledger transactions. It supports a
rich set of digital currencies and ledger transactions including funds
management, balance inquiry, pledging, redemption and transactions management.
It also provides the necessary monitoring and reporting capabilities for cash
management and balances sweeping, as well as ensures the continuity of
remittance operations.




BENEFITS


OPTIMIZED EFFORTS

Accommodates for rapid market demand changes without altering back-end systems


VALUE-ADDED SERVICES

Allows for the seamless introduction of new value-added services to clients


ENHANCED COMPETITIVE EDGE

Provides ideal time to market in a fast-paced and highly competitive landscape


OPTIMIZED MIGRATION

Allows for gradual migration of legacy components in alignment with the
institution’s demand plan


FACILITATED PROCESSES

Provides access to new digital channels that facilitate internal financial
institution processes


CLOUD NATIVE

Offers a reliable and secure platform with faster and more cost-effective
time-to-market




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