The partnership will fast-track the modernization of IT infrastructures and adoption of real-time payments ahead of the EU’s mandatory transition to instant credit transfers

In brief:

-The collaboration extends the scope from Finastra’s SaaS digital banking solution, Essence, to include Finastra Payments To Go, an end-to-end SaaS payment processing solution, and Global PAYplus, a functionally-rich payment hub solution.

-By facilitating SEPA and international payments, Italian banks can comply with the upcoming European instant payments regulation and modernize outdated and complex IT infrastructures.

-Payments To Go is an end-to-end SaaS payment processing solution that enables banks to fast-track their instant payments services rollout and deliver flexible digital payment offerings faster and more efficiently

What does this mean?

"Our partnership supports the imminent entry into force of the European regulation on instant bank transfers in euros, which will make instant payments mandatory without additional costs," said Giampietro Vavassori, Business Solution Director at Corvallis.