Eastnets launch SEPA Instant Payments Access-as-a-Service

Eastnets is launching an Instant Payments Access as a Service for SEPA Credit Transfers Instant (SCT Inst) as part of its long-standing, global SWIFT service bureau offering.

SEPA Instant Payments Access-as-a-Service

The service, hosted in partner data centres located in Luxembourg, complies with the SWIFT Shared Infrastructure Programme and the European regulations for the financial sector.

Launching an instant payment service with Eastnets cloud means fast time-to-market, and a competitive edge for financial institutions, addressing their compliance needs quickly and reliably, without the complexity of traditional setups.

The service will allow financial institutions to integrate into Europe’s instant payment infrastructure like TIPS and RT-1, easily and quickly via Eastnets’ secure private cloud.

“Our partnership for the infrastructure provisioning is fully regulated by the European Financial Regulator,” says Marie-Christine Diaz, Business Development Manager, Europe.

“This is a major milestone in our global SWIFT Service Bureau strategy, to offer Instant payments access across Europe. As an accredited SWIFT Service Bureau, we remove the need for costly infrastructure investments and the burden of the regulatory compliance.”

The service is also highly scalable, so financial institutions only pay for what they need, and can increase or decrease their capacity to handle greater volumes of instant payments at any time.

“Financial institutions can expect to see a reduction in total cost of ownership by 40 to 60% compared to on-premises solutions, which can be expensive and demanding on time and resources,” explains Tareq Shaheen, Director of Payment Solutions at Eastnets.

“Financial institutions can also access market leading anti-fraud, anti-money laundering and sanction screening capabilities as part of the service. This is particularly important considering the speed at which instant payments happen and the fact that banks will be liable for reimbursing victims of authorised push payment (APP) fraud.”


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