The link between regulatory Obligation and successful implementation

The real-time transfer (Instant Payment), which was equipped with the corresponding standard in the SEPA area in 2017, has now established itself in the German payment market. Instant payment, with its flexibility and speed, is particularly popular with private customers, but corporate customers are also increasingly recognizing the advantages of real-time payments.

This development can therefore also be seen in German banks. Approximately 84% of German banks are now able to receive instant payments. In September of this year, the EU Commission is now expected to make the passive accessibility of real-time payments mandatory. For many institutions, the obligation is accompanied by the number of challenges that must be overcome for successful implementation – first and foremost, the high complexity for adapting their own systems to the new processing speed and 24/7/365 availability. In addition, resource bottlenecks are expected within the own institute, at the payment providers and at the external subject matter experts due to the obligation. All institutions that have not yet implemented instant payments accessibility in-house must start and successfully complete an implementation project within the same period.

At Gravning, we have been successfully supporting our customers in the implementation of Instant Payments for several years. This involves the passive accessibility but also the active sending of real-time transfers. Based on our experience and knowledge from various projects, we have developed the concept of the Instant Payment Quick Check. This serves as a preliminary study to the actual implementation project.

Our experience has shown that the Instant Payment Quick Check should be implemented as a 3-step model:

Stage 1: Inventory of actual processes/actual infrastructure

Stage 2: Definition of target processes/target infrastructure

Stage 3: Conducting a preliminary study incl. concrete recommendation for action

Our task is to quickly put you in a position to identify and prioritize your company’s key action areas for the successful implementation of Instant Payments.

For this we offer you:

  • Valid recommendation for implementing Instant Payments based on extensive industry & market knowledge as well as from implementation projects at various financial institutions.
  • Detailed analysis of potential challenges based on current and past experiences from Instant Payments projects.
  • Sound support for the implementation of Instant Payments after the Quick Check.
  • Support on the selection of a suitable payment provider (existing or new provider) for the implementation of instant payments.

 

The Quick Check serves as a link between the regulatory requirements of the EU Commission and a successful Instant Payments project.

 

If you are interested or have further questions, please contact us anytime by e-mail:

Christopher Kumb

Marius Wiehr

Maurice Rabba

senior consultant

senior consultant

senior consultant

Christopher.kumb@gravning.de

Marius.wiehr@gravning.de

Maurice.rabba@gravning.de

 

 

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Gravning GmbH
Lutterothstraße 50
20255 Hamburg

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