Valantic, a Germany-based SJE Group investment, has successfully deployed a real time payments system for the Czech Republic's largest commercial bank - Česká spořitelna.
Česká spořitelna has a balance sheet total of 33.7 billion euros, more than 10,000 employees, more than 600 branches and five million clients. Valantic partnered with the bank to implement Valantic’s Real Time Payment Engine to allow the bank’s customers to process transactions in Czech crowns and in real time.
valantic’s Real Time Payment Engine integrates different payment channels such as e-banking, manual recording of payments or payments via third parties. The software comprises numerous flexible gateways, features a multi-channel and multi-instrument capability and is easily adjustable to country- and bank-specific requirements.
The web-based user platform monitors all payments, visualises complex XML transactions and gives an overview of the current processing status. The platform provides a high-performance, reliable, scalable and flexible technology which cooperates with all current payment processing systems and allows a nearly hundred per cent straight through processing (STP).
The solution benefits both the bank and its customers.
Valantic’s Real Time Payment Engine now allows the bank’s customers to process transactions in Czech crowns in real time. The bank’s corporate customers especially benefit from a real-time overview of their current available liquidity.
All payment transaction services which may arise in the bank can now be processed out of one central hub. This helps reduce costs and frees up valuable IT resources for other tasks.
Corporate customers can benefit from real-time payments too by using functionalities like hourly payroll and just-in-time inventory management. Valantic’s RTPE additionally allows access to more data which are transmitted during transactions and facilitates coordination and report creation. Thus the bank is able to provide extended services and to create further added value for its clients.