- Support one of the largest Banks in Indonesia in transitioning to ISO 20022 messaging standards.
- Assist in processing, validating, and transforming SWIFT MT and MX financial messages.
- Ensure compliance with global payment standards while maintaining operational efficiency.
Case Studies
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Enabling Indonesian bank in ISO 20022 Transformation with FINaplo Financial Messaging Libraries
Enabling Indonesian bank in ISO 20022 Transformation with FINaplo Financial Messaging Libraries
ISO 20022 CBPR+, FINaplo Financial Messaging Libraries
- Deployment of FINaplo Libraries: We integrated FINaplo Financial Messaging Libraries into the bank’s existing systems. These libraries provided robust capabilities for parsing, building, and validating ISO 20022 messages, enabling a seamless transition from legacy SWIFT MT formats. This allowed the bank to adopt ISO 20022 while maintaining compatibility with existing message formats.
- Message Transformation and Validation: The FINaplo libraries offered automatic translation between SWIFT MT and ISO 20022 messages, ensuring that the bank could handle both formats during migration. This functionality minimized disruption and allowed the bank to continue operating smoothly while adapting to the new standards.
- Online Service for financial messages: We provided access to a unique Online portal that helps users validate and translate any SWIFT MT or MX financial message to accelerate the quality assurance process.
- Operational Efficiency and Compliance: Using the FINaplo libraries, the Indonesian bank achieved automated validation of ISO 20022 messages against the latest standards. This automation significantly reduced manual intervention, ensuring faster processing times and lower error rates.
- Annual updates: The financial messaging tools are updated annually, immediately after the new rules are publicized by governing authorities and SWIFT ensuring continuous compliance with ISO 20022 standards.
Core Banking provider Elevates Payment Solutions with aplonHUB
The partnership between Core Banking provider and PaymentComponents has been a success, with the integration of aplonHUB helping to support payment systems in the Nordic region. The technology behind aplonHUB meets the urgent need for regulatory compliance and adaptability in Account-to-Account (A2A) payment solutions. Thanks to this joint effort, a banking platform in the Nordic region is now one of the first in the cloud to offer Instant Payments to its customers.
aplonHUB
- Improve the performance, precision, and regulatory adherence of a cloud-based technology platform to answer the increasing needs of today’s financial market.
- Help a financial institution in the Nordic region deliver Instant Payments using a cloud-based banking platform.
- PaymentComponents has upgraded its payment system, aplonHUB, to work seamlessly with Core Banking provider's cloud-based digital payment solutions, boosting transaction speed and compliance with financial regulations.
- aplonHUB’s flexible design easily conforms to different financial messaging standards, which means Core Banking provider's customers can meet all the regulatory requirements without any interruptions to their business.
- PaymentComponents has included a toolkit (SDK) within aplonHUB that can be utilized to build, Parse, and validate Norway Instant Payment financial messages
- The toolkit (SDK) within aplonHUB gets updates annually, immediately after new rules are publicized by governing authorities, ensuring the digital payment solution remains up-to-date with the latest compliance requirements.
Global Technology Leader, chose Financial Messaging SDKs as an optimum way to ISO20022 compliance.
The long-term collaboration between NEC Corporation and PaymentComponents, through the integration of Financial Messaging SDKs, proved to be a successful venture. Financial Messaging technology as implemented by Payment Components, addresses the immediate need for Compliance and Flexibility both for the MEPS+ and the CBPR+ standards. It also positions global technology leaders such as NEC in a power position on the evolving payments landscape.
ISO20022 Messaging SDK
- Enhance the efficiency and accuracy of Financial Messaging of financial institutions in the MEPS+ (Monetary Authority of Singapore Electronic Payment System) protocol.
- Ensure compliance and seamless integration with the newly introduced CBPR+ (Cross-Border Payments and Reporting Plus) messaging standard.
- Payment Components provided NEC Corporation with its state-of-the-art Financial Messaging technology. This technology is tailored to seamlessly integrate with the existing Payment Gateways or Core Banking systems, enabling a smooth transition towards MEPS+, the new enhanced financial messaging protocol of Singapore.
- The robust and flexible nature of Financial Messaging SDKs allowed also for a smoothless adaptation to the CBPR+ messaging standards, ensuring NEC Corporation clients remained compliant with the new regulatory requirements without any operational hitches.
- The provided SDKs can be utilized to to build, Parse, and transform SWIFT MT Financial Messages to ISO20022.
- The tools are updated annually, immediately after the new rules are publicized by Governing Authorities and SWIFT.
- The integration of SDKs within existing payment applications, ensures a scalable solution, allowing and accelerating future expansions and adaptations to any Payment Scheme as the financial messaging standards and regulatory requirements evolve.
Financial messages automation for a regional bank
Added a system for SEPA and SWIFT management and routing functionality next to the existing core banking system.
aplonHUB
- We installed aplonHUB on premises and integrated with existing core systems
- We modified message routing and authorization handling to suit the banks processes
- We enabled SEPA Credit transfers and SWIFT MT messages
- Handled returns, replies, revoces outside the core banking
- Required negligent modifications to the existing core systems
Trade financing technology for a world leader
Payment Components provides the underlying technology and support for a trade financing system to a financial institution giant.
ISO20022 CBPR+
- We provide SDKs to build, Parse and Validate CBPR+ and SWIFT MT trade financing messages.
- Provide unlimited same day support to any question, technical or business raised.
- Update the tools annually immediately after the new rules are publicized by SWIFT.
Electronic Payments Management Portal for a leading card processor
Cardlink is active in the field of electronic payments and in particular in the acceptance and management of card transactions, both physical and e-commerce. The company operates the largest network of POS terminals in Greece.
A custom application on top of the Payment Switches and POS Terminal Management Systems
- The client needed a way to perform several activities like monitoring, reporting, billing, etc
- They also needed a way for their Merchants to access their card-related transactions and other related business data
- We implemented a cloud-based microservices architecture application around their Payment Switches and TMS.
- We provided the client with an administrative portal to perform numerous tasks like in-depth reporting & real-time monitoring to critical processes such as billing & handling of card payments including all major card processors like Visa, Mastercard, Alipay, and cardless payments like QR codes & tokenized payments.
- We also provided to different stakeholders related to our clients’ business activities, like Acquirers, Cardholders, Resellers, & Helpdesk, through the same portal, access to their card-related transactions, and merchant’s data. Our client had full control over what information these stakeholders could access.
- Specifically, for their Merchants, we developed a dedicated portal to access their card-related transactions, business data, draw premade, or custom-made reports to cover their business needs (sales, accounting, marketing, etc), allow & manage multiple users on the same account with different access levels.
Payments automation for a leading cloud based core banking system
Payments automation for a leading cloud based core banking system
aplonHUB
- Integrated aplonHUB core system to the core banking platform
- Modified extensively internal handling and routing so that it integrates smoothly to the core system
- Added SEPA Credit Transfers and SEPA Direct Debits for their European clients
Financial messages technology for a world leader
Payment Components provides the underlying technology and support for several global payment systems of one of the largest financial institutions.
ISO20022 CBPR+
- We provide SDKs to build, Parse, and Validate SWIFT MT and CBPR+ financial messages.
- Provide unlimited same-day support to any question, technical or business raised.
- Update the tools annually immediately after the new rules are publicized by the governing authorities.
Credit Transfer, Direct Debits and Instant payments for regional Fintech
Automated and modernized the whole payments functionality to one of Malta’s oldest financial services firms.
aplonHUB
- We installed aplonHUB on-premises and integrated with existing core systems
- Implemented advanced notification and filtering mechanism to achieve full STP and automation
- We enabled the SEPA CT, SEPA DDs, and SWIFT MT messaging modules
- We integrated aplonHUB with their external ACHs and Corresponding banks
Financial messages technology for a technology giant
PC provides the underlying technology and support for several global payment systems of one of the largest financial institutions.
SWIFT MT Messaging tools
- We provide SDKs to build, Parse and Validate all SWIFT MT, all ISO20022 and all SEPA messages.
- Provide unlimited same day support to any question, technical or business raised.
- Update the tools annually immediately after the new rules are publicized by the relevant authorities.