Payment HUB
Payment HUB empowers payment life cycle management in banks. Instead of simple transaction routing, payment HUB executes a specific workflow flexibly to fulfill business, product, regulation and compliance, fraud detection and payment network requirements.
In the modern payment world, because of new market trends, emerging technologies and changing regulation rules, payment processing has become more and more complicated in comparison with simple transaction routing. Different characters of a single payment need a multiple aspect processing approach. On the other hand straight through processing is essential in terms of cost saving, processing time and visibility on the process. Implementing payment HUB capability is the best solution for this multiple aspect processing. With this capability banks can decrease time to market for innovative products and new partner integration and also provide customized experience in payments.
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Payment instruction characteristics
Payment HUB performs different functionalities for each payment instruction type. Transaction validation, fraud detection, AML controls, product authorization, transaction routing and customer notifications are part of common payment HUB functions during payment processing.
SOA
Payment HUB
Service Oriented Architecture provides flexibility, robustness and comprehensive control on payment processing in different layers: consumer interfaces, orchestration layer and service components.
Payment
Smart Routing
Payment HUB capability makes it possible for banks to find the best route for payment processing based on: processing time, transaction fee, exchange rate, network availability and liquidity risk.
Payment HUB Migration Strategy
Payment HUB facilitates migration from legacy silos architecture to modern and service oriented architecture. This approach provides flexibility in migration strategy in different aspects.
How We Help
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Payment HUB is a core system in retail and business banking and it is considered as an essential platform involved in most of the digital initiatives . Cyberilliant provides professional services in different stages of implementing and utilizing payment HUB architecture. These services fall under below categories:
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Payment HUB requirement analysis
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Vendor selection
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Implementation strategy
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Implementation architecture and design
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Product and service onboarding
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Migration planning
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Contact us for more information or send your inquiries to service@cyberilliant.com