SOCIETE GENERALE AND LA BANQUE POSTALE GROUPS CHOOSE TRANSACTIS TO PROCESS THEIR INSTANT PAYMENTS
Since its instant payment offer was launched in December 2018, Transactis has enabled its client banks to send and receive wire transfers instantly in real time.
In 2019, Transactis processed over 6 million instant payments (IPs) for Societe Generale, La Banque Postale, Boursorama and the Crédit du Nord Group; it is currently ramping up to handle payments for Treezor, Ma French Bank and eZyness.
Transactis processes an average of 50,000 instant payments per day, with peak volumes up to 70,000 per day. It currently accounts for 35% of all IPs in France.
The Transactis IP platform is connected to the French interbank clearing and settlement system, which makes it possible to reach all French banks in real time and, starting in 2020, all European banks.
A comprehensive “Payment As A Service” platform with an API to facilitate integration.
Transactis specialises in high volume payments and IT transaction processing in real time. The Transactis company offers a comprehensive range of turnkey services to host, process and clear instant payments through an API connection it provides on its portal.
“Transactis allowed Societe Generale to become one of the first banks to offer its clients the possibility to send instant payments on various web and mobile channels, including to their friends with the recent addition of Paylib. Societe Generale will continue to rely on Transactis to develop instant payment services and, in particular, the ability to send payments at the European scale at the start of 2020, along with services for its business clients,” notes Philippe Marquetty, Head of Payment Products, French Retail Banking, Societe Generale.
As a new instrument in the DPS2 landscape, instant payments open the door to a pooling and outsourcing strategy in the realm of payment flows.
In a context subject to regulatory limitations and growing cost pressures, instant payment is a technological revolution that requires banks to invest heavily. Sharing those upfront investments, as well as maintenance costs, is critical to the competitiveness of banking stakeholders.
“At the end of 2018, La Banque Postale turned to Transactis so it could offer its clients the ability to receive instant payments at a competitive price. By sharing the costs of building the instant payment platform with Societe Generale, La Banque Postale was able to take advantage of lower unit costs and a favourable deployment schedule, while capitalising on Transactis’ subject matter expertise in processing bank payments,” explains Regis Folbaum, Director of Payments, La Banque Postale.
As an established processor in the market, Transactis guarantees the smooth execution of instant payments for its financial institution clients on its production platform thanks to real-time monitoring of processing, transactions and interbank clearing and settlement. In addition, its platform includes a highly effective anti-fraud solution based on market tools that have proven themselves in countering fraud in electronic banking.
Its proven industrial IP platform can securely process large volumes and is ready to host new clients looking for an effective, economical and scalable solution.
Regardless of their size, Transactis gives financial institutions the ability to meet the challenge of instant payment and to establish themselves as innovators on the European payment market.