The solution is designed to provide banks and financial institutions with intelligent, data-driven payment routing to process transactions more efficiently.
The module uses advanced algorithms to select the most efficient payment path for each transaction in real-time.
It analyses factors such as cost, speed, available payment schemes, and regulatory requirements to determine the optimal route for mass payments, instant payments, and high-value cross-border transactions.
According to Finastra, the system can achieve an upwards of 95% straight-through processing rate.
Radha Suvarna
“Our Intelligent Routing Module… [gives] banks the intelligence to route payments for maximum efficiency while meeting customers’ expectations for fast, seamless service,” said Radha Suvarna, Chief Product Officer for Payments at Finastra.
The Intelligent Routing Module is available either as a standalone, system-agnostic package powered by microservices and open APIs, or as an integrated part of Finastra’s Global PAYPlus.
Its open architecture allows banks to embed the solution into their existing payment initiation channels, orchestration systems, or payment engines.
Finastra stated that it designed the solution to deliver a rapid return on investment and reduce the risks associated with large-scale system replacements.
