PaymentSafe

THE CHALLENGES 

The banking sector today is facing rapid changes in payment infrastructures across new regulations, rules, and messaging formats. Meeting these challenges requires a strategic response to revisit IT infrastructure, business or operational processes, and financial messaging workflows. In this context, Financial Institutions need a messaging service platform that can centralize the straight-through processing (STP) of multiple financial workflows. EastNets offers a modular solution that allows different levels of customization or integration and can integrate with SWIFT, payment market infrastructures, and ACH and RTGS networks.

THE SOLUTION 

en.PaymentSafe® is a financial messaging hub that unifies workflow processing with multiple payment networks in a single platform powered with a suite of services to optimize STP, clearing & settlement processes, and operational efficiency. It acts as an intelligent central engine for payment information capture and mapping. It can also manage the rules for all the different workflows, clearing and settlement routes, and risk mitigation procedures involved.

en.PaymentSafe® can be deployed in two models: 

  • en.PaymentSafe® as a service via EastNets’s SWIFT service bureau: It enables users to communicate with the SWIFT community easily over a secure channel. en.Service Bureau is a proven outsourcing environment, connecting more than 250 Financial Institutions and corporate entities to the SWIFT Network. en.Service Bureau is audited yearly by SWIFT to ensure its resiliency, security, and compatibility with SWIFT standards.
  • en.PaymentSafe® as an on-premises installation: Both the application and database servers are hosted on the customer’s site. en.PaymentSafe® as a service utilizes the On-Demand service model, allowing institutions to pay only for what they use. This means low-cost access to SWIFT via a standard Internet connection and Internet browser. It also enables institutions to mitigate the costs of developing these integrated applications in-house.

KEY FEATURES

  • Integrate the SWIFT workflow with the core banking system 
  • Manage automated payment and financial transaction message workflow on SWIFT 
  • Use only one centralized platform for multiple financial networks 
  • Integrate seamlessly AML and sanction list filtering with SWIFT message workflow     
  • Reduce SWIFT workflow operation costs, enhance control of financial flows, and improve clearing & settlement processes with counterpart and market infrastructure 

Download Brochure

Financial Messaging Hub on SWIFT as a Trusted Service in the Cloud:
Eastnets Factsheet

BIC/IBAN Validation:
Eastnets Factsheet

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