Česká spořitelna supports real-time payments thanks to valantic technology

8 January 2019

Frankfurt a.M. / Prague, 08 January 2019: The Czech bank ÄŒeská spoÅ™itelna gives its customers the opportunity to process payments in real time. The financial institution, a subsidiary of the ERSTE Group Bank AG in Vienna, is thus the first bank in the Czech Republic which provides instant payments. This innovative service is made possible thanks to the Real Time Payment Engine, a software provided by Dion Transaction Solutions, a valantic specialist for financial software solutions having a successful long-term cooperation with the ÄŒeská spoÅ™itelna.

- Integration of different payment channels with the valantic Real Time Payment Engine
- Increase in efficiency regarding the processing of payment requests

Nowadays, e-mails and messages sent via messaging services reach their recipients, even on the other side of the world, within a few seconds whereas money is usually transferred at a significantly slower pace. Currently, financial institutions have one day for performing bank transfers. Prospectively, instant payments may revolutionise payment transactions likewise the e-mail already did with the forwarding of messages. ÄŒeská spoÅ™itelna has already arrived in the future and with the Real Time Payment Engine by Dion and valantic, the bank gives its customers the opportunity to process payments in Czech crowns in real time. Therewith, the two companies have achieved an important milestone as planned.

valantic’s Real Time Payment Engine (RTPE) is an open, modular structured payment hub solution. Apart from instant payments, it supports the processing of other payment types such as, for instance, SWIFT or SEPA. By integrating different payment channels – such as e-banking, manual recording of payments of payments via third-party providers – the RTPE is particularly versatile and highly flexible. In addition, the software working in real time comprises numerous gateways, is characterised by its multi-channel and multi-instrument capability and can easily be adjusted to country- and bank-specific requirements. Thus, all payment transaction services which may arise in a bank can be processed out of one central hub.

Bohuslav Šolta, COO of ÄŒeská spoÅ™itelna emphasises the importance of real-time payments for the Czech bank: “We built a platform which allows processing of instant payments as standard payments in a scale and volume needed for the biggest bank on the Czech market. Thanks to the successful implementation of the new payment solution, we have extended our position as innovation leader in the area of real-time readiness for payment processing.” Silvia Mazánová, Tribe Lead, Real Time Payments System Tribe, ÄŒeská spoÅ™itelna, is also highly satisfied: “We had a clear objective: Increasing the efficiency regarding the processing of payment requests. In this context, we have been working together with our partner Dion, which now belongs to valantic, for several years in order to flexibly and quickly overcome the different challenges in the payment section. The implementation of the solution components of the Real Time Payment Engine has been very target-oriented. The modular design of the payment solution excellently matches with the complexity of our internal application environment.”

Jürgen Dahmen, Managing Director at Dion Transaction Solutions, points out the software performance: “We are proud to further develop the cooperation with ÄŒeská spoÅ™itelna and to ensure and constantly expand the bank’s competitive position by means of the RTPE’s modular system architecture. Thanks to the scalability and high availability, the software is able to manage any volume in a 24/7 operation mode.”

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