What do Instant Payments mean for you and the service you provide to your clients?

An Instant Payment is a SEPA transfer in Euro’s that is credited to the beneficiary’s account from the client’s account within seconds. The credit to the account is within seconds, 24 hours a day, 365 days a year and the receive amount can be used instantly. “Instant” payments can already be made for a few years in a few European countries and since May 2019 this is also possible on the Dutch market.

Christien van Meurs
Christien van Meurs
Executive Consultant
For companies

What are the consequences of Instant Payments for your organisation?

Your clients expect instant processing of their payments when they purchase your products or services. This has an impact on you as a business and on your operational and logistic processes. For example, instant display of payments in your client portal and real-time reconciliation of these. Do not forget that payment traffic now continues over weekends and evenings. In addition, it often requires acceleration of your processes; cash management, bank relationship management, payment methods, payment channels, etc.

What does this mean for your own organisation and respective operational processes and how can you manage this? Have you considered this or undertaken any action yet?

In discussions with our clients, it has emerged that there is a strong need for clarity about the impact and opportunities presented by Instant Payments. Enigma Consulting can assist in the form of an Instant Payments Scan for your company. We ascertain the impact and opportunities in consultation with you, enabling you to devise the best strategy for Instant Payments.

This scan is based on ascertaining the impact of instant payments across the whole chain.

We clarify the choices you will need to make step by step, from Front to Mid to Back office including liquidity management and reconciliation.

This approach proved very useful in a session Enigma hosted for a number of companies. We have also incorporated the experiences gleaned from this session into our Scan.

We would be delighted to provide you with this service!

For banks

What are the consequences of Instant Payments for your payment processes?

Given that processing, interbank clearing and settlement of these transactions is changing from batch to real time, this will have a big impact on your current payment processes. For example:

  • The structure of your IT environment, operations, client services and your fraud/AML organisation
  • The structure of your cash & liquidity management
  • Connections to existing or new clearing and settlement mechanisms (CSMs), local or European

What does all this mean for your own organisation and the respective operational processes and how can you exploit this?

Discussions with various Dutch banks have shown that there is a strong need for clarity about the impact and opportunities presented by Instant Payments. Enigma Consulting can assist you in the form of an Instant Payments Scan for your organisation. We ascertain the impact and opportunities in consultation with you, enabling you to devise the best strategy for Instant Payments. With this scan we determine the impact across the whole payment value chain. Step by step. From client channel to mid- and back-office and the link with external parties is made clear which choices will have to be made.

This approach proved very useful in a session Enigma hosted for a number of banks and insurance companies. We have also incorporated the experiences gleaned from this session into our Scan.

We also have extensive experience in implementation processes of Instant Payments at various financial institutions and can also fulfil various roles there: project manager, product owner, business analyst and project management officer. We have an eye for the various internal and external stakeholders and can also facilitate related package selections (such as payment engine, CSM or sanction screening).

We would be delighted to provide you with this service!

Other Payments Services

Payments
Interbank payment traffic
Bank migration
PSD2 scan
Payment Hub
Vision & Roadmap
Trends in the payments domain
Blockchain

Our Instant Payments Experts

Christien van Meurs

Executive Consultant