The Digital Age of Payment Systems
Special Services
Hannah Chan
BSc IT & Business Mngmt.
Payment systems are the backbone of society, allowing businesses and individuals to receive and send monies across the globe, at anytime. The technology revolution has opened up new ways of interaction for individuals and businesses, leading to increase demand for enhanced and more flexible payment methods. Clients can trigger payment transactions in bank branches as well as on computers and mobile devices. Development has started for electronic watches – what’s next?
In parallel, security breaches continue to grow with each innovation, placing individuals and businesses at risk. Operators of payment systems must comply with legislative and governing rules in their own geographical country to provide a secure, stable and efficient service to their customers. Simultaneously, political decisions can drive improvements to the way payments are being processed around the world, such as the introduction of the SEPA (Single European Payment Area) scheme. With the endless changes and improvements in the payment area, businesses are forced to revise and adjust their strategies to maintain a competitive advantage within their industry.
Payments within Avaloq
With the Avaloq Banking Suite (ABS), Avaloq provides an innovative system for middle, back and front office, which is currently running in major financial centres globally. The ABS manages end-to-end processing for all payment and card transactions, offering safe and efficient functionalities based on the latest technologies, as well as delivering maximum flexibility.
The ABS can be highly customised allowing you to make bespoke changes that are in line with your objectives and strategic prospects, whilst simultaneously sustaining competitive advantage.
Avaloq banking suite for payments:
Settlement and clearing
Message processing and sending
Customised to geographical area – eg Cheque for UK, SEPA for eurozone
End to end processing
PSD2 (Payment Service Directive)
Processing millions of payments and card transactions per hour
Profit from our expertise
As Avaloq Special Service Partner, Ayaval can assist you in designing and implementing new and innovative ideas to provide you with the most practical and efficient solution. Our pool of experts continues to keep pace with changing regulatory and technological standards and can help you defining the most competitive and flexible payments solution.
Want to know more about our Digital Payment Systems?
Send us an email and will get in touch with you.