Banca Centrală Cooperatistă CREDITCOOP Implements Allevo FinTP-Instant

Allevo announces the successful deployment of FinTP Instant at Banca Centrală Cooperatistă CREDITCOOP. The solution connects the bank to the Instant Payments service hosted and operated by TransFonD and processes payments within scheme constraints. 

The Instant Payments service ensures money transfer in less than 10 seconds, the maximum  amount being set at under 50.000 RON. Such a payment can be initiated 24/7/365 between customers of Instant Payments participants. 

FinTP is Allevo solution that connects bank internal applications to external systems such as SWIFT, TransFonD, and Eurosystem. FinTP ensures STP (straight through processing) processing of transactions sent across these systems. 

FinTP-Instant is a FinTP feature that ensures payment processing within the parameters set by the TransFonD scheme. It is highly   flexible, being able to quickly connect core-banking systems to the Instant Payments service, with minimal impact over the existing bank infrastructure. FinTP-Instant is distributed, like FinTP, under GPL v3   open source license. 

The main features of FinTP are flow automation, processing of various message types and  standards, validation, reconciliation, transaction resilience and persistency. FinTP also offers a  broad set of technical and business features, designed for operators and to address regulation  requirements, audit and end customers’ policies. 

“We are thrilled to launch Instant Payments, a service that brings modern immediate benefits to our customers, allowing them to transact RON real time. This achievement was possible with the  consultancy and solution provided by Allevo, who delivered the FinTP-Instant solution.” – said PhD Adrian Morar, General Director Banca Centrală Cooperatistă CREDITCOOP. 

“We are proud that Banca Centrală Cooperatistă CREDITCOOP chose FinTP-Instant to process RON instant payments. The bank becomes one of the players who chose to connect to the service  offered by TransFonD by implementing FinTP-Instant. We thank the team at CREDITCOOP for  the trust invested in Allevo, which lead to successful and quick implementation.” – said Sorina Bera, CEO Allevo.