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SIA-SSB Launches New Platform For Payment Institutions

SIA-SSB has designed and developed a new technology platform Payment Institutions EASY BOX, which complies with regulatory and business requirements, to allow the new players to tap the opportunities arising from new payment services by reorganizing their business models.

Payment Institutions EASY BOX consists of a complete, integrated system based on a modular approach including all the payment services envisaged for payment institutions, as well as compliance and supervisory functions and further additional activities.

Provided to payment institutions in ‘Software as a Service’ mode, Payment Institutions EASY BOX includes application management, facility management, back office and consulting and is available in three different versions for the strategic approach chosen by each individual payment institution.

The first version known as ‘basic’ is aimed at non-bank financial intermediaries who, during the initial phase will limit themselves to upgrading the system of notifications to supervisory authorities.

The second version known as ‘advanced’ is aimed at payment institutions who decide to manage also the payment accounts on which customers may carry out deposits and withdrawals.

The third version known as a ‘full’ version for payment institutions intending to offer some additional services (collections, credit transfers, card issuing, etc.) as well as the functions included in the ‘advanced’ and ‘basic’ versions.

Payment institutions may make use of a single gateway to access networks and circuits at domestic and cross-border level and of a series of further value-added services such as connectivity, multi-channel access and real time monitoring of transactions. Additionally, ‘Payment Institutions EASY BOX’

complies fully with the security and service continuity requirements set out by the regulatory framework.

SIA-SSB is an Italy-based provider of services and solutions to the international financial community in the areas of credit and debit card processing, payment systems, capital markets and network services for connectivity and messaging.