Garanti BBVA Romania Implements Allevo FinTP-Instant

Allevo announces the successful deployment of FinTP-Instant at Garanti BBVA Romania. 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 a few seconds, the maximum amount  of a payment being 10.000 RON, and 49.999,99 RON for a collection. 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 happy to offer our customers the opportunity to make Instant Payments in lei, in real time,  by developing a project in partnership with Allevo, the provider of the FinTP-Instant solution. This  service is part of the Garanti BBVA Romania’s broader strategy oriented towards smart,  seamless, and human-centric digital banking experience.” – said Tolga Banyocu, Deputy  General Manager, Client Solutions Area, Garanti BBVA. 

„We are proud that Garanti BBVA 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 Garanti BBVA for the trust invested in Allevo,  which lead to successful and quick implementation.” – said Sorina Bera, CEO Allevo.