Instant Payments Acceleration Solution Brochure
2.34 MB
As the finance industry shifts toward the global standard for financial operational systems, ISO 20022, the adoption of real-time payment solutions accelerates. The standard enables faster, high-value, cross-border payments like SWIFT Cross-border Payments and Reporting Plus (CBPR+) and SWIFT Global Payments Innovation (gpi).
UL Solutions, a global safety science leader, offers instant payment implementation services to support our customers with their business, technical and operational decisions regarding real-time payments.
Our in-depth industry knowledge and customer-centric approach have enabled us to drive the adoption of key standards and technologies such as:
- ISO 20022
- Regional and international payment regulations, including proprietary protocols and payment solutions
- Open banking
- Payment Services Directive 2 (PSD2) and strong customer authentication (SCA) compliance
- Clearing and settlement protocols
- Payment application programming interfaces (APIs)
Our strategic approach sets us apart from the competition. We elaborate on the five essential characteristics of a successful instant payment program:
- A clearly defined long-term strategy
- A comprehensive impact analysis
- Robust and systematic project management
- Effective internal communications
- A future-proof technology and testing solution
Our industry experts not only provide best practices, insights into trends, and security guidance regarding authentication and onboarding, but they can also help customers design their own processes, procedures and APIs.
We assist our customers with building trusted security, compliance and interoperability into their operational infrastructures globally and locally.
Honore Afene, lead principal advisor at UL Solutions, discusses the growth of instant payments and the potential of FedNow.
We provide a variety of real-time and instant payment implementation services
Strategic and educational
We deliver educational trainings and interactive business and technical workshops to help our customers grow their knowledge, define their road map, build their strategy, review their business goals, and understand design and architecture requirements to integrate and enable secure payment technologies like instant payments.
Technical
We collaborate on building requirements, risk tolerance and business goals. With our independent perspective, we support the assessment of whether to build or buy solutions, road map creation, and vendor management.
Operational
We provide functional and technical expertise and advisory services from compliance to technical, regulatory and standard requirements to vendor management to test management and security evaluation.
Automate your real-time and instant payment testing process
We offer a fully automated web-based solution to test real-time and instant payments: Host Testing Solution (HTS) for Instant Payments. This enables financial institutions and payment service providers to streamline their testing process for payment host implementations of ISO 20022 and test for compliance with real-time and instant payment networks.
The key functionalities are message injection and host simulation. This allows customers to remove dependency on external systems, perform independent testing and simulate different domestic and cross-border real-time payment systems.
Host Testing Solution for Instant Payments
Streamline the testing process for real-time and instant payment implementations.
Real-time and instant payments services
732.57 KB
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