Features

Features and functionalities

The product covers the following features:

• Reachability: obtaining the scheme required to reach the beneficiary account based on the BIC.

• Orchestration of the happy and unhappy paths following responses from Screening/AML.

• Store and forward functionality.

• Orchestration of the accounting for account and clearing settlement.

• Initiate the settlement process.

• Housekeeping on recalls.

• Validation of deadlines, maximum dates, status of in-flight operations not dependent on the scheme.

• Handle responses from the scheme.

• Feeding the control model.

• Execute TLM reports when required.

Each of the areas described previously represent a value proposition and resolve different problems for entities processing or initiating payments, that is why the payments hub has been an architecture in independent areas.

The picture below represents the domains and some of the schemes the Payments Hub connects to.

Scheme connections

In addition to the payment processing we can also offer scheme connectivity via one of the Santander Banks in the Group who participate directly in key clearing and central bank settling schemes. Integration is easy using one common and standard format.

For each scheme and when applicable (depending on the payment type) we offer:

• Connection with scheme for incoming and outgoing as well as operations and scheme files.

• Scheme Rulebook validations.

• Reachability. Required for connection with scheme and transaction processing.

• Produces the "scheme flavor" from an agnostic version of the message and vice versa.

• Cut off interbank settlement day.

• Manage Kick off dates/times when sending to the clearing house.

• Scheme connection control model. Including full traceability of files.

• End to end view of transaction status.

• Matching or handling "R" transactions.

• Store and forward for transactions with a forward date?.

• Matching and handling "R" transactions.

• Store and forward for transactions with a future date.