The Allevo Transaction Broker solution for banks covers a couple of areas, such as:
- connecting heterogeneous back-office systems to external networks or market infrastructures
- a reliable single window for managing transaction flows
- liquidity reporting and forecasting - enhanced interoperability with corporate customers
- support for the most popular financial information transfer instruments, such as payments, direct debit, debit instruments and securities
- multicurrency enablement
- operational risk containment functionalities, such as accounting reconciliation, duplicate detection, transaction filtering, competitive alerts
- insurance of data quality: end-to-end persistent transactions, system resilience (transaction mirroring to back-up platforms)
- native ISO20022 support
- easy operational and data flow configurations through embedded XML schemas.
The above picture represents the solution built around FinTP. It enables dramatically lowering the recurring costs of a bank and also making it benefit from joint developments, by implementing this open source solution for a commoditized part of the underlying infrastructure. Key benefits that contribute to operational risk management:
‒ Business flow consolidation
‒ External interface to market infrastructure(s)
‒ Funds transfer: credit transfer, direct debit, debit instruments, duplicate detection, treasury flows
‒ Operational functionalities such as liquidity reporting, accounting reconciliation, transaction filtering, remittances management, competitive reports.
This solution is tailored around the GPL v3 licensed FinTP, an application derived from the 12 years practice proven qPayIntegrator designed and implemented by Allevo back in 2002. FinTP’s predecessor has been live at 10 financial institutions and has successfully managed their daily operations, automating their flows, centralizing their transactions and ensuring end-to-end interoperability.