Real-Time Payments

Pioneers in Real-Time Payments

Real-Time Payment systems are increasingly being globally deployed.  They are a major evolution in economic systems that is transforming the way internal payments are processed, and promising also to transform international payments in the not too distant future.

We at Iliad Solutions have been at the heart of Real-Time Payments since 2005, when 11 of the 13 UK founder banks relied on our software to prepare themselves for the UK scheme’s launch (called Faster Payments in the UK). These organisations have continued to use our experience and technology to test changes to the UK system, their own systems and new messages. Other new members, including aggregators, also employ Iliad’s solution to provide support and assurance before, during and after launch.

The World’s Leading Technology

Real-Time Payment schemes often require a member’s own systems to operate in ways never previously envisaged. For years, we have been ensuring that our client’s systems can operate in perfect harmony with the scheme.

Iliad delivers the readiness and assurance for certification and provides on-going regression. This regression can be automated,  increasing confidence and reducing costs. The solution is based on Iliad’s t3:Switch technology, which delivers a virtualised, end-to-end testing platform proven in some of the world’s leading schemes and financial institutions. t3: Switch enables testing of real-time payments to be run as a discrete function, or as part of a financial institution’s overall payments testing infrastructure.

The platform supports multiple message formats (including ISO8583, ISO20022, SWIFT GPI, Open API, PSD2 and many others) ensuring that all message types across the real-time payments landscape can be catered for as schemes evolve their formats and message types.

Intelligent Solutions

The solution can be deployed with a highly intuitive portal that supports schemes by providing their members with certification. The system can be deployed in certification or pre-certification mode and delivers a genuine self-service capability. This reduces the need for schemes to provide support teams for on-board members, resulting in lower costs and faster progress to full operation and launch.  Frictionless on-boarding is the vision for all schemes; Iliad’s solution helps its clients take massive steps towards achieving that.

With a genuinely code-light approach, we have built a platform which is highly configurable, and can be modified by user organisations or ourselves as required. This highly flexible and intuitive technology ensures that financial institutions are ready to adapt in a fast-evolving market.

Used by The World’s Leading Institutions

Iliad has launched a fully configured solution for The Clearing House’s Real Time Payments (RTP) Platform in the United States. Our RTP test solution fully replicates the TCH system and can operate as RTP or the member. The t3:Switch platform delivers a virtualised model that can be used for testing 24/7 under the member’s own control. The model tests all scenarios the scheme supports, as well as enabling the development of member’s own tests to ensure that their environments are ready prior to certification. Members’ back end systems can be modelled as part of this process, to allow their behaviours to be exhaustively tested against all likely, and indeed unlikely, conditions.  In addition, the fundamental automation capability of t3:Switch enables our users to support full automated regression testing at will.

Built For The Future

Iliad’s models are maintained to accommodate all scheme changes and mandates well ahead of production deadlines, ensuring Continuous Testing is available as RTP evolves in the US. The solution is fully configured to support key management and exchange, message generation, validation and reporting.  The required protocol stack, MQ/TCPIP and HTTP, is fully supported.

Once deployed, the system can support fully-automated regression testing which ensures that members can quickly and easily test any changes to their own systems. This allows our users to be assure that modifications,  no matter how minor, leave the scheme unaffected, giving long-term confidence in the system’s operation. The diagram below shows the logical deployment model of the solution in a typical member:

Flexible Deployment

Iliad’s technology can be deployed in a variety of way.  It can be installed on-premise in a conventional data centre model, as a VM, or via AWS cloud in a fully containerised system which enables rapid and straightforward deployment. Your teams can be confident that they have a strong set of controls to ensure transparency, and efficient testing for the provision of new solutions.

In addition to client deployments, however modelled, Iliad provides its own AWS based SaaS option for RTP members.  This provides 24×7 access to the system, under the member’s full control.  In this model, Iliad makes use of containerisation to enable a member to be certain of both security and availability. 

Click here to watch our Real-time Payments Video Presentation