Instant Payment Screening Service - Pythagoras Solutions

Pythagoras Instant Payment Screening Service, IPSS for short, compares your payment data with reference data from leading providers and decides in real-time (<1/100 secs) whether a payment may be executed. The software has a sophisticated procedure to evaluate payments in a high-performance and fail-safe manner and to send a response via web service. We can look back on many years of experience in 24/7 operation. Independent of your banking system, the screening is carried out via a web service that supports well-known payment formats such as PACS008. Furthermore, the software is a learning system - it recognises recurring transaction partners and continuously monitors them for changes through reference data. Numerous configuration options and intelligent algorithms enable highly precise real-time decisions to reduce the false-positive rate to a minimum.

SECURE

High data security through local installation

RELIABLE

Built in an architecture that guarantees 24/7 day availability

SCALABLE

Designed for a high number of transactions, the system can be scaled easily

PERFORMANT

Screening and response to the payment system in under <1/100 seconds depending on the IT infrastructure

TRANSPARENT

Transparent screening rules, con!gurable according to your requirements

EFFICIENT

Storage of decisions. No need to repeatedly check recurring partners

TRACEABLE

Complete audit trails and tamper-proof history

DATA-NEUTRAL

Reference data obtainable from several leading providers

SECURE

High data security through local installation

RELIABLE

Built in an architecture that guarantees 24/7 day availability

SCALABLE

Designed for a high number of transactions, the system can be scaled easily

PERFORMANT

Screening and response to the payment system in under <1/100 seconds depending on the IT infrastructure

TRANSPARENT

Transparent screening rules, con!gurable according to your requirements

EFFICIENT

Storage of decisions. No need to repeatedly check recurring partners

TRACEABLE

Complete audit trails and tamper-proof history

DATA-NEUTRAL

Reference data obtainable from several leading providers

Functions

What the solution offers

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SCREENING

SEPA – real-time payments against reference data

MATCHING

In <1/100 seconds, depending on the IT infrastructure

INSTANT

Mobile and online payments

HIGH TRANSACTION VOLUME

PRE-SCREENING

For approval before bank releases payment

POST-PROCESSING

Review warnings that led to rejected payments later and option to whitelist them

AVAILABILITY

High performance file system stores configurations, indexes and ratings

SCALABILITY

With load balancer and multiple IPSS instances

FLEXIBILITY

Many options to configure screening rules and data selections (e.g. Sanctions only)

IMPORT FORMAT

Developed for standard payment format ISO 20022 pacs008, other formats possible

PROVEN TECHNOLOGY

Use of Microsoft IIS and Windows Services, MSSQL databases, XML file exchange

YEARS OF EXPERIENCE

Working for major European banks for 3 years, 15 million transactions screened

FAST RESPONSE TIME

Average processing time based on real life system: 130 ms

All info for download

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Summary

Process Overview

Pythagoras Instant Payment Screening Service Solution offers a high-performance, high-availability solution to screen transaction partners and instruct the corresponding banking system whether a transaction should be executed. The software basically consists of two parts, an application that is used by compliance staff to process partners & KYCC and the high availability area, which can be operated independently of the application and thus does not require any cost-intensive components from an infrastructure point of view. The integration with the Pythagoras solution Transaction Monitoring brings further useful advantages for a holistic overview of all transactions. POST-PROCESSING OF ALERTS Apart from the configurational part, the processing of IP hits and IPKYCC ratings are both done in the Pythagoras Partner Screening application. Users can review the information of the transactions and its partners, process the hits and apply a rating to each IPKYCC. This rating is than transferred to IPSS which considers the new rating for future transactions.

Commodity trade under regulatory pressure

Commodity trade under regulatory pressure

Commodity trade under regulatory pressure

Instant Payment Screening Service
Learning system for real-time screening against leading data providers

The Advantages of Instant Payment Screening Service