#Romania #Instant Payments #Montran #SEPA #Cluj

Montran Expands Instant Payment Services Across Europe

Montran, a prominent provider of payment system infrastructure, has recently unveiled its plans to broaden its consulting and connectivity services for SEPA (Single Euro Payments Area) instant payments across the European Union. This initiative aims to assist commercial banks as they prepare to meet the impending compliance deadlines set forth by the EU's Instant Payment Regulation (IPR).

By building on successful implementations in various nations, including Belgium, Germany, France, the United Kingdom, Bulgaria, Italy, and Romania, Montran is extending its well-established expertise to financial institutions across the continent. As the regulation mandates eurozone banks to be equipped to send and receive SEPA instant payments by October 2025, and those in non-euro EU countries have until July 2027, Montran's expansion is timely and strategic.

Understanding the Growing Need for Instant Payments

According to Keith Esca, Montran's Global Sales Director, "Instant payments are becoming the new norm across the EU." This reflects a significant shift in consumer behavior and banking operations. Banks are now tasked with adapting quickly to ensure they can handle these payments efficiently and in compliance with regulatory standards.

To facilitate this transition, Montran is providing its proven implementation services and connectivity solutions to a wider range of financial institutions. This move not only supports banks in navigating the complex landscape of instant payments but also helps them do so with confidence, minimizing implementation challenges.

Comprehensive Consulting Services Offered

Montran’s consulting teams are equipped to help banks comply with SEPA instant payment requirements, providing end-to-end support from project definition to execution. The comprehensive suite of services includes:

• - Interpretation of SEPA instant payment documentation: Ensuring banks understand the regulations and their implications.
• - Message flow and operational rules analysis: Offering insights into the technical aspects of payment processing.
• - Internal workshops and training: Developing the necessary skills within bank teams to handle instant payments effectively.
• - Assistance with internal testing reports: Helping banks report on their testing processes.
• - Ongoing support for project teams: Ensuring continuous guidance throughout the implementation phase.

Having worked with over 30 banks on instant payment projects, Montran's consulting services are tailored to streamline complexity and expedite readiness, empowering banks to meet the regulatory deadlines efficiently.

Expanded Connectivity Solutions for Instant Payments

In addition to consulting services, Montran is broadening the deployment of its payment gateway solution, which has already proven scalable for use by banks and central infrastructures in various markets. This solution now aims for wider implementation across Europe, facilitating direct connectivity with TIPS (TARGET Instant Payment Settlement), EBA RT1, and national instant payment systems such as SENT CPI in Romania.

Key features of the solution include:

• - Support for both euro and local currency instant payment systems: Enabling banks to process a variety of transaction types seamlessly.
• - Real-time tracking and operational dashboards: Providing up-to-the-minute insights into transaction flows.
• - Handling high volumes of transactions: Capable of processing up to 10 million transactions per day, making it a robust option for high-demand environments.
• - Flexible integration: Designed to work cohesively with existing core and digital banking systems.

The solution is delivered onsite and comes with full backing from Montran’s local and international teams, ensuring banks are supported every step of the way.

Company Background

Montran stands as a leading provider of market infrastructure solutions for payments and capital markets, servicing some of the world’s largest financial institutions with critical operations in more than 90 countries globally. To learn more about their offerings and capabilities, visit www.montran.com.

The expansion of Montran's services comes at a crucial time for the banking sector in Europe, highlighting the essential shift towards instant payments and the necessary steps financial institutions must take to remain compliant and competitive.