Allevo has introduced FinTP-Instant to Banca Centrală Cooperatistă CREDITCOOP, a Romanian financial institution.

Enhancing Payment Processing with FinTP-Instant

The deployment of FinTP-Instant allows the bank to integrate its internal applications with external systems like TransFonD and SWIFT, ensuring streamlined transaction processing within regulatory limits. The solution aims to provide rapid payment transfers, typically completed in under 10 seconds for transactions below EUR 9.823 (RON 50,000).

Instant payments can now be processed round-the-clock without disruption, offering customers seamless and instant financial transactions.

The Role of FinTP-Instant

FinTP-Instant, developed by Allevo, supports the integration of core-banking systems with the TransFonD Instant Payments service. It ensures that transactions are processed efficiently while minimizing disruptions to existing infrastructure. Additionally, it adheres to the GPL v3 open source license.

The solution offers a range of features, including flow automation, message type processing and validation, reconciliation, transaction resilience, and compliance with regulatory requirements and audit policies.

PhD Adrian Morar’s Perspective

The General Director of Banca Centrală Cooperatistă CREDITCOOP emphasized that the introduction of instant payments will provide modern benefits to customers by enabling real-time transactions in RON. Sorina Bera, CEO of Allevo, praised the efficient implementation process, highlighting the support from Banca Centrală Cooperatista CREDITCOOP’s team.

Expanding Access with ReGIS

In February 2024, Allevo extended access to the ReGIS system operated by the National Bank of Romania for 17 banks, supporting half of the participant banks and a market share of about 50%.