The Single Application That Banks and EMIs Need for Their Payment Flows
Payments systems have always been a key but complicated part of the financial system. Things evolved, and over the last decade, the payments environment has become much more dynamic, creating even more significant challenges for banks and financial institutions. The whole infrastructure is in continuous transformation, new players emerge every day, making it potentially complicated to stay on top of the game.
It's a tough time for banks, which have to look to new technologies to keep up with changing consumer habits, the rise of fintech challengers, new payment standards, and the migration to ISO20022, which is now rapidly approaching.
However, these are not the only challenges for banks and lenders, as they also need to properly handle other payment formats as well, such as domestic payments, real-time payments, SEPA, and so on. These circumstances made it necessary for financial institutions to consider notable technology investments to keep the market's pace, stay compliant and offer upgraded services to their clientele.
It’s this intricate context that made us think there was a clear need for creating something radically new. A product able to simplify things for those operating in the field. That's how we came up with aplonHUB: a solution to help Banks and EMIs manage all kinds of payment flows - supporting SEPA, SWIFT MT, ISO20022 CBPR+, and Instant Payments, from one single application.
Basically, with aplonHUB we developed a lightweight software, allowing banks to easily add payment functionality to their core system, starting small and using the necessary modules only. Thanks to our API ecosystem, it is potentially ideal for banks, PSPs or fintechs of any size. The reason why it is perfect for companies of different sizes is because it is a solution that can be scaled up gradually, that guarantees rapid time to market and a reduced total cost of ownership.
A single application thought to give companies complete control over their operating costs and that can be adopted with a fixed investment. A solution that supports MT to ISO20022 migration using CBPR+ translation rules. Not least importantly, it is worth highlighting that aplonHUB is already certified by SWIFT; as with PaymentComponents we are strictly following the SWIFT guidelines, aiming to ensure the smooth migration of MT messages to ISO20022 with CBPR+.
Is this something that could be helpful for your organization? Book a demo now, and we'll be more than glad to show you more about what we can achieve together!