Solution

Finastra
Global PAYplus
A world of opportunity in payments
Executive summary
With the growth of real-time, ISO 20022 adoption, As leaders in global financial services technology, In addition they are a catalyst and an enabler
Open Banking, alternative payment methods, Finastra is here to help modernize your for driving innovation, delivering personalized
and move to the cloud, the payments landscape payment experience. user experiences, and creating new business
has evolved. Maintaining costly, complex in‑house opportunities for you and your customers –
Our proven payment solutions, alongside a flourishing
legacy systems won’t deliver the digital experience now and in the future.
ecosystem of collaborating fintechs, are designed
that financial institutions need to give their customers.
to offer you a full end-to-end and future-proof service.
By consolidating the silos and moving to a payment Our solutions tackle many financial institutions
hub where payment services are centralized immediate concerns of providing quick returns,
and standardized, and open for collaboration with the reducing operational cost/risk/effort, and keeping
fintech community, financial institutions can embrace alignment with market developments and
the new world of payments, reduce operational costs, scheme changes.
drive innovation, and provide a streamlined digital
customer experience.

2 FINASTRA Global PAYplus Solution

Introduction

The payments industry is facing a perfect storm. It’s caused by the convergence of real‑time
payments and ISO 20022, the costs of maintaining legacy solutions, and the move to
Open Banking and the platform economy.

At the same time, new technologies, • Customer expectations – Customers are • Openness – Open Banking is growing in
non-bank competitors, and evolving increasingly demanding contextualized relevance globally. Financial institutions will
customer expectations are transforming the and digital journeys which is creating need to evolve from building and selling
payments landscape. Against this backdrop, pressure for financial institutions to deliver traditional product solutions to opening up to
Regulatory and compliance demands, alongside
financial institutions need solutions that standardized services faster. new possibilities by exposing services that Speed of market domestic modernization and new regional/
both manage compliance and standard customers can consume on demand. and regulatory
global schemes drives the need for an “always
change
payment processing needs, and deliver Customers now expect freedom of Collaboration is key in constructing high compliant” solution and cost containment.
the configurability and agility to meet choice and value-added services such value business use cases, drawing on a
customer expectations, Finastra helps as those enabled through Open Banking marketplace of fintech innovation.
financial institutions to thrive in this new - whether change is driven through Customers want additional advanced digital
Customer
payments world, freeing them to focus on regulation, as with PSD2 in Europe, Financial institutions need to consider offerings creating pressure for financial
expectations
differentiation and service excellence. or market-led, as in the US, customers the role they want to play in this dynamic institutions to innovate faster and efficiently.
require personalized user experiences, ecosystem. Failure to participate may
Three drivers are compelling a review
along with greater transparency, speed and leave them relegated to being providers of Open Banking and the growth of platforms and
of payments strategies:
optimization of payment processing. commoditized payment processing, which marketplaces are redefining the landscape.
Openness
• Speed of market and regulatory can also be the most costly to maintain with New competitors are emerging. Cloud is fostering
change – With the global expansion Meeting these customer needs requires low margins (e.g., regulatory obligations). collaboration and generating network effects.
in real-time processing, wide-scale solutions with:
adoption of ISO 20022, the emergence
- High automation and efficient
of new and modernized regional/global
exception management
payment schemes, and the potential
- Comprehensive functionality
of Open Banking, financial institutions
available out‑of-the-box
must adopt solutions based on modern
- Reliable and scalable on demand
technologies and business models
- Changes implemented quickly through
to simplify operations, innovate with speed
configuration not customization
and agility, and stay relevant.

3 FINASTRA Global PAYplus Solution

Managed Transformation
Introduction The challenges The solution Benefits Key features Why Finastra
Services model
The challenges

However, responding to market pressures presents Impact of the challenges

several challenges
• High set-up and maintenance costs – smart routing, and mixed file handling.
The current payments infrastructure cannot The growth in transaction volumes and
meet the challenges involved in ongoing the expected range and speed of delivery
support of its payment infrastructure of product innovation is increasingly
(e.g., the operational demands of new real-time challenging for legacy, on-premise solutions
Adapting existing fragmented and siloed ecosystems payment schemes, or supporting the additional (designed for efficient processing of a
data of ISO 20022 messages) without major payment type) when compared with
• The current payments infrastructure cannot react to market and
investment projects. new entrants.
regulatory pressures without major investment projects
• Time pressures mean that new services are often added tactically
Existing on premise systems have often grown Changes cannot meet required timelines
incurring high downstream maintenance costs
incrementally resulting in both duplication leading to poor customer acquisition
and redundancy, and modifications have and retention; as with the challenge
been applied tactically - the result is high around costs, there can be the temptation
Delivering digital transformation maintenance overheads and potential to go for quicker, tactical solutions as opposed
• Customers increasingly expect their banking services to be as flexible systemic risk (e.g., on normal operations when to strategic ones leading to problems with
as other domains (e.g., social media) adding real-time payments). downstream maintenance.
• Customers want to be treated as individuals through personalized,
• Need to transform – New entrants are
contextual services Recent times have demonstrated how the
cloud‑native, and focused on delivering
impact of this challenge can be amplified
an excellent digital experience to their
by global events driving changes in customer
customers and bringing innovative new
behavior (e.g., volumes of electronic payments)
services to market quickly. The problem
Competitive pressures and expectations (e.g., enhanced security and
many financial institutions are facing is how
fraud detection).
• Competition from fintechs and other new entrants is encouraged to become a player in such a payments
by Open Banking. • Timely and consistent service delivery ecosystem against the backdrop of a
• These new players focus on the customer experience and aren’t – Payment solutions must be more agile complex, fragmented and siloed set of
encumbered by legacy infrastructure. and flexible to support customer needs payment solutions which cannot be replaced
and continuous industry and regulatory as a “Big Bang”. Payment solutions must
changes and new initiatives. There is a need provide an incremental, evolutionary approach
to rationalize pre-processing and execution to transformation.
through capabilities such as pre-validation,

4 FINASTRA Global PAYplus Solution

Managed Transformation
Introduction The challenges The solution Benefits Key features Why Finastra
Services model
The Finastra payments solution - Finastra Global PAYplus
Increasingly financial institutions agree that the best way to address these challenges is through
end-to-end payments transformation, powered by the implementation of a single global payments
hub for managing and processing all domestic and cross‑border payments in a cost‑effective,
secure, and reliable way. The solution’s modular design
supports an incremental
Global PAYplus is designed to serve as the ideal catalyst for this transformation. It offers the broadest and deepest suite of payment services
available today—spanning high-value payments, mass payments and real-time payments—in a single solution. Based on a modern API- and approach to transformation,
microservice-enabled platform with an ISO 20022 native data model, it can be easily, quickly and predictably integrated with a financial
institution’s existing technology infrastructure, enabling financial institutions to consolidate silos of legacy payment applications into a single allowing banks to take
platform that can be deployed globally yet controlled locally—thus reducing risk, simplifying administration, and reducing operating cost.
immediate steps based
Finastra Global PAYplus
Banks’ systems/
channels Interfaces & Open APIs
Markets
on near‑term business
Mobile apps RTGS RTGS, Real time
objectives or regulatory
requirements, while laying
payments, ACH

Clearings Gateway
Real Time Payments
CSMs
customer-oriented
Pre-processing &

Corporate ACH
services

channels
Cross border
Cross border
the foundation for a fully
integrated, end‑to‑end
Alternative Payment
Retail Methods (APM)
channels Intraday liquidity & risk

Local Common services

APM payment services hub
branches
that replaces all legacy
Business rules Monitoring

Innovations
processing silos.
3rd party
Bank applications
fintech

Realtime FX Balance check Accounting Fraud and compliance Customer information Advice and notification Fees

5 FINASTRA Global PAYplus Solution

Managed Transformation
Introduction The challenges The solution Benefits Key features Why Finastra
Services model
Payment processing modules Connectivity and integration of transformation instructions between formats Supplementary modules
for single transactions and files. • Pre-processing and customer oriented services –
RTGS and cross-border payments Clearing connectivity
receives messages (both single and batch,
Enables banks to receive, process, and send high These payment workflows can utilise the integrated The solution has an extensive and growing library
including mixed files) from multiple channels,
value payments, both incoming and outgoing, as well clearing gateway which is responsible for managing of Open APIs providing access to fine grained core
validates, enriches and performs smart
as clearing specific messages, processes, and rules. the connectivity and all interactions with the clearing services such as payment initiation to support
routing (including reachability checks)
Supports RTGS payments as well as cross‑border system utilizing the communication protocol and data the demands of of Open Banking.
for downstream processing. This module supports
correspondent banking payments via SWIFT formats. The clearing gateway supports the various
the payments transformation journey from legacy
and alternative cross‑border payment methods. SWIFT services (FIN, InterAct and FileAct) as well as Additional features
payment engines to a hybrid payment ecosystem
Incorporates the global adoption of ISO 20022 bespoke communication protocols where required The following features of the solution enhance the use
with existing capabilities and Global PAYplus.
and provision of SWIFT GPI. (e.g., US TCH RTP and EBA Clearing RT1 via SIANet). of the data collected by the payment hub:
This is an optional module as a financial institution • Intraday liquidity and risk –
• BI gained through standard and custom inquiries,
ACH/Bulk payments may have existing connectivity capabilities that they monitors and controls bank-side liquidity and
and reports
Enables banks to receive, process, and send files wish to use. positions in real time, ensuring efficient control
• Sharing of both raw data and analytics data
and messages that contain multiple bulk payments and management of multi-currency liquidity assets
to facilitate Open Banking and data monetization
— credits, debits, and related transactions — as well Integration capabilities across the bank’s accounts and RTGS channels.
as individual transactions. Supports bulk / ACH Integration with external applications and services The user experience is also enhanced through features
payments as well as bilateral and multilateral is simplified through a library of standard connection such as modern browser, accessibility and multi‑lingual
clearing arrangements. points including: support, screen design incorporating tools such
as NodeJS and Angular, and improved operational
• Account lookup
Real time payments efficiency through features such as quick entry screens,
• Balance inquiry
Enables banks to receive, process, and send individual elastic search and shortcuts.
• FX
and bulk payments for real time schemes; the service
• Billing Finastra also offers a range of value-added services
incorporates the use of overlay services such
• Posting including application training and certification,
as Request to Pay and Beneficiary verification.
• Compliance and fraud checks on‑site subject-matter experts and usage discovery.
• Advising

Where client proprietary integrations are required

the solution can incorporate a transformation
tool to enable quick and easy configuration

6 FINASTRA Global PAYplus Solution

Managed Transformation
Introduction The challenges The solution Benefits Key features Why Finastra
Services model
 Benefits of consolidated payment operations

Saves time, reduces costs and risk and Improves Customer Service Configuration, not customization
improves operational efficiency The solution allows banks to give their A configurable rules engine provides the
The solution brings together payments customers the flexibility needed to make flexibility to quickly add new functionality
flows for many different payment types and receive payments quickly and easily - in response to changing industry and
and from multiple systems into a central in real time, at any time, 24x7. This enables customer requirements, without code
payments hub. Information is consolidated banks to offer new, innovative services changes—reducing the burden of
into a single view, saving staff time and — like real-time payments globally along regulatory compliance, and accelerating
enabling significant reductions in the with the associated overlay services — time-to-market of new payment services.
number of interfaces and systems requiring increasing the velocity of commerce.
management and maintenance. As a result, Global PAYplus is API-enabled so banks
maintenance cost is dramatically reduced. can take advantage of the latest API
Also, the user interface can be personalized technologies and improve customer
through configuration, helping users experience by providing frictionless
to prioritize tasks and focus on only payment experiences across any service
those things that require their attention, or channel, as well as comply with
thus improving productivity. regulations like PSD2 which continues to
evolve, and the transition to open platforms
In addition, by reducing the number of
and marketplaces. The solution allows
interfaces, systems and processing stages
banks to meet customers’ demands for
requiring manual intervention, Global
real‑time access to liquidity, enabling them
PAYplus enables operational risk to be
to carry out transactions closer to clearing
reduced dramatically.
deadlines, and have credits posted
as quickly as possible.

7 FINASTRA Global PAYplus Solution

Managed Transformation
Introduction The challenges The solution Benefits Key features Why Finastra
Services model
Liquidity Management
Demand for intraday liquidity continues
Enhances Decision Support
The solution provides mission-critical
Resilient, future-proof and responsive
architecture
Finastra Global PAYplus
to grow as financial institutions and payments information in a consolidated The rapid change in the payments
their corporate customers expand their
operations into a wider range of markets
view allowing for easy monitoring and
analysis of all aspects of the bank’s
landscape, driven by both regulation and
market initiatives, is advancing the pace
is designed to ride this
across the world, boosting the volumes payments operation. The data accumulated of digitalization. In addition, new entrants
of both cross-border and domestic
transactions. Finastra’s liquidity and risk
over time establishes a baseline for
normal behavior, issuing real-time alerts
such as fintechs and challenger banks
are increasing the focus on customer
wave of innovation
management module provides banks with when abnormal trends are detected. This experience. To remain relevant financial
the tools they need to address new intraday
liquidity monitoring and measurements
“bird’s eye” view—both in real time and
over time—allows financial institutions to
institutions must provide payment services
that go beyond compliance and to do this
through its open
standards and meet the demands of new quickly and easily identify trends, avoid their solutions must have an architecture
regulation. The solution automatically
centralizes all payments and liquidity events
trouble spots and make informed decisions.
Similarly, by readily providing only the most
that supports the new business models that
are emerging. Global PAYplus is designed
design including APIs,
in one place, so that limit monitoring of necessary and relevant information, the to ride this wave of innovation through its
inputs and settlements can be performed
consistently and in real-time and it includes
solution enables users to quickly assess the
information they need to do their job and
open design including APIs, microservices,
full cloud support and data services; while
microservices, and full
projection and planning capabilities that make decisions without being distracted by meeting the scalability, security, availability
enable financial institutions to meet their
payment obligations throughout the day as
irrelevant data. and business continuity requirements of
such a mission-critical system.
cloud support.
well as at end-of-day.

8 FINASTRA Global PAYplus Solution

Managed Transformation
Introduction The challenges The solution Benefits Key features Why Finastra
Services model
Finastra Global PAYplus key features

Process any payment type Modern platform Platform and marketplace enabled
Automated processing of ACH, RTGS, ISO 20022 native solution built on a modern Through integration with FusionFabric.cloud,
SWIFT and real-time payments with high API-enabled architecture designed to innovation is accelerated through utilizing
levels of STP. continually benefit from infrastructure the services of an ecosystem of fintechs,
improvements without the need to change financial institutions, and other institutions.
Channel-agnostic the business logic. Modular and layered
Works with any channel for payment design allows users to easily run major Proven in the most demanding
capture and management. projects in parallel, without impacting one production environments
another or the core system. Designed to meet the highest standards
Extensive global reach of performance (low latency, high capacity,
Supports widely used clearing and customer Configurable user interface linear scalability) and reliability.
formats with tools to rapidly add additional Users can control, simplify and streamline
formats as needed. the experience and content to identify risks
and prioritize tasks.
Centralized control and tracking
of payment operations End-to-end business process Everything we offer through
Including user-defined inquiries, elastic Integrated clearings gateway provides “last
search, full processing audit trail and global mile” connectivity for those cases where the
Finastra Global PAYplus is available
view of liquidity risks. financial institution doesn’t have it. on‑premises or in the cloud.
Comprehensive workflows and business Open, extensible data and processing models
rule capabilities Allows for rapid implementation and roll‑out
Mature and business feature rich workflows, of new products and features.
with multi-currency and multi-lingual
support for any geography, and multi-entity
organizational structures that align with
any operating model.

9 FINASTRA Global PAYplus Solution

Managed Transformation
Introduction The challenges The solution Benefits Key features Why Finastra
Services model
Finastra Managed Services

Driving outcomes through a software led managed service

Our Finastra Managed Services offering Our Finastra Transform approach  riving business outcomes:
D
enables financial institutions to gain revolutionizes the way we deliver projects. Our software led managed service
incremental value from their existing We take a holistic approach, which enables enables greater business agility,
payments solution by driving business banks to de-risk the initial implementation, reduces operational risk, and
outcomes. Built on market leading deploy a solution that is optimized for maximizes ROI.
technology, extensive IP and accelerators, both cost and quality of ownership and
we offer a complete and flexible offering effectively transition to our cloud based
that is available as a full managed service or managed service.
an application management service, to suit
specific needs. Our offering consists of: Benefits
Focus on what matters:
• Software – Global PAYplus solution and
With Finastra Managed Services,
ecosystem components
banks can transfer the operational
• Infrastructure – Secure, resilient and high- burden of hosting, patching,
performance infrastructure upgrading and day to day application
management to Finastra, enabling
• Implementation – Implement or upgrade
them to shift focus to managing
solution to clients’ requirements Finastra
their core business and driving Managed
• Management – Client Support, operations strategic priorities. Services
management, and governance
 ontinuous modernization:
C
• Updates – Tested, production-ready and Additionally, with continuous
kept in standard support modernization built into our service
model banks can always stay up
to date, meaning compliance with
regulatory and clearing scheme
changes is built in.

10 FINASTRA Global PAYplus Solution

Managed Transformation
Introduction The challenges The solution Benefits Key features Why Finastra
Services model
Finastra customer transformation model Building value for every
stage of the journey
Continuous modernization that addresses the “best next step” for your
payments transformation, wherever you are on the journey. Stabilize
Offering proactive support to get greater
With Finastra’s Customer Transformation
benefit from your existing solutions;
Model, software is accompanied by ongoing
6 SaaS this is a foundation for change.
service that’s focused on your needs
and desired outcomes. Wherever you are User controlled,
on the journey, from the start of the change on demand service. Simplify
5 Serviced Enabling clients to make value-based
process to a managed SaaS solution,
decisions to reduce technical debt
our goal is to help you take the Move to scalable, managed service. and improve TCO.
“best next step” to where you want to be. 4 Streamlined
We work with you to identify where you are
on your transformation journey and develop
Streamline releases – defect free, extensible solution. Standardize
3 Standardized We deliver continuous change with ongoing,
a detailed roadmap to provide the right
agile sprints, moving you to a leaner,
ongoing service to address your needs.
Move customer to a leaner, less complex solution with better ROI. less complex solution with better ROI.
As you move through the different stages
2 Simplified
of transformation, our service builds
in lockstep with your needs to deliver
Streamline
Enable value based decisions to reduce technical debt and improve TCO. Achieve defect-free, agile, resilient solutions,
greater value, continuous modernization,
1 Stabilized with Finastra delivering tested
and improved business outcomes.
production‑ready code.
For Global PAYplus all levels up to level 5 of Help the customer to get more benefit from their existing Finastra solution.
the Customer Transformation Model are in
play. We have another solution, Payments Service
To Go, that operates at level 6 (i.e., SaaS) A full managed service including production
cloud environments, to deliver an outsourced,
scalable, and evergreen service.

SaaS
To find out more about Finastra’s Customer Transformation Model, Your solution is provided by Finastra on
a Software as a Service (SaaS) basis,
visit our webpage here or contact our experts directly to get started. delivering banking functionality as a service.

11 FINASTRA Global PAYplus Solution

Managed Transformation
Introduction The challenges The solution Benefits Key features Why Finastra
Services model
Why choose Finastra’s solution

With trusted open payment solutions and a collaborative ecosystem of

financial institutions and fintechs, Finastra is the perfect partner to help you
drive innovation, deliver the personalized experiences that users expect,
and create true business value for you and your customers

Proven payment hub Designed for high configurability

$2.6Bn >45% 82%
Finastra is the best option to phase in The solution is designed for configurability. Global spend on payment Customers who will use of banks believe they will move
hubs by 2025 (CAGR 8%) cryptocurrency payments in to Payments-as-a-Service or a
a payment hub. We have unrivaled expertise The layered architecture supports the next 1-2 years managed service in the cloud in
Source: Omdia, 2021 coming years
in the operation of global clearing and settlement re-usability, configuration and Source: Capgemini, 2021
Source: Celent, 2021
mechanisms and out-of -box coverage for extension of workflows and simple,
many geographies; the solution architecture user‑driven implementation of new business
offers tailored, incremental growth (buy what rules via the Rules Engine and UI screens.
is needed now, prove the ROI and then extend). These features allow the solution to react
The solution is widely proven in production with to clearing and settlement mechanism,
proof points for high-end performance minimising market and regulatory changes, to utilize
operational risk. It is purpose‑built and modular and monetize value added services,
to meet the specific processing needs of each and to optimize customer service.
payment type while providing a single integrated Change through Drive transformation
Multi-rail coverage
view. The solution can also work alongside our Future-proof technical architecture configuration – through the fintech
on‑prem or cloud
market leading products in other lines of business The investment is future-proof and supports the not customization marketplace
such as core banking, trade finance, lending and delivery of innovative services. This is achieved
treasury and capital markets. through our commitment to continuous Global and fully maintained Layered architecture Deliver innovative
technical evolution including full adoption clearing coverage proven isolates impact/ services enabled through
of cloud native technologies; rich and growing in production. Rails are risk of changes. cloud‑native technologies,
open API coverage addressing, for example, purpose-built, segregated, Standard payment and a growing level
the needs of Open Banking; and participation and user-configurable, workflows can be of integration with
in our collaboration platform, FusionFabric.cloud, and can be added re‑used and extended. specialist fintech
which accelerates innovation by extended our incrementally for ROI at New features introduced services over Finastra’s
services through the offerings of fintechs and each step. by users via business rules. collaboration platform,
other players. FusionFabric.cloud.

12 FINASTRA Global PAYplus Solution

Managed Transformation
Introduction The challenges The solution Benefits Key features Why Finastra
Services model
Why partner with Finastra?

It’s not just about the solution. What makes Finastra the partner that
you can trust to deliver success?

Maximizing value from your Powering global finance - Finastra’s size,

Your World.OPEN - Finastra is building
Finastra solutions - when working scale and geographical reach
an open platform, FusionFabric.cloud,
with Finastra, through our Preferred means that we can serve customers
that accelerates collaboration
Active Support service, clients can effectively, regardless of their size
and innovation in financial services,
benefit from personalized, proactive, or geographic location – from global
creating better experiences for people,
and ongoing support through their financial institutions to community
businesses and communities. Together we
software lifecycle. Through Finastra’s banks and credit unions. In fact, 48 of the
are leading the way in how applications
best practices, methodologies world’s top 50 banks rely on Finastra
are written, deployed and consumed
and product expertise, clients can technology to deliver better experiences
in financial services to evolve with
drive operational, product and system for their customers.
the changing needs of customers.
performance optimization to enhance
Unparalleled industry experience - we offer
A wide partner ecosystem - our growing the customer experience.
the broadest portfolio of financial
ecosystem of innovative partners provides
Our Solution Adoption Review offering services software in the world today –
more solutions and capabilities in the
can also help clients understand how spanning retail banking, transaction banking,
market to our customers.
to use their Finastra systems more lending, and treasury and capital markets.
A proven best practice approach - effectively and derive maximum value We provide a depth and richness
the Finastra delivery model is incorporated from their applications. of capabilities to our 600+ clients, from both
into our entire product life cycle. We use best our people and products.
practice business processes in the design,
development and quality assurance of all
of our financial software. These practices,
proven in the industry, will help you achieve
lower cost and faster onboarding, reduce
TCO, and reduce risk.

13 FINASTRA Global PAYplus Solution

Managed Transformation
Introduction The challenges The solution Benefits Key features Why Finastra
Services model
Finastra unlocks innovation across the world
of financial services, through our trusted
software and open platform.
 Contact us at [email protected]

About Finastra Corporate Headquarters

Finastra is a global provider of financial software applications and marketplaces, and launched the leading open platform 4 Kingdom Street
for innovation, FusionFabric.cloud, in 2017. It serves institutions of all sizes, providing award-winning solutions and services Paddington
across Lending, Payments, Treasury & Capital Markets and Universal Banking (digital, retail and commercial banking) London W2 6BD
for banks to support direct banking relationships and grow through indirect channels, such as embedded finance and United Kingdom
Banking as a Service. Its pioneering approach and commitment to open finance and collaboration is why it is trusted T: +44 20 3320 5000
by ~8,600 institutions, including 90 of the world’s top 100 banks. For more information, finastra.com

© 2022 Finastra. All rights reserved.

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