London and Toronto - Finastra has completed connectivity testing with SIA, the European provider of payment infrastructure and services, to provide connectivity to the European instant payments infrastructure systems via SIAnet.
The testing confirms that Finastra's payments gateway is able to exchange real-time payment messages through its connection to SIAnet. Additional trials have demonstrated that financial institutions can connect to RT1, EBA CLEARING's pan-European instant payments infrastructure, using Finastra's global payments solutions via SIAnet.
As of November, the RT1 infrastructure is live to process SEPA instant credit transfers, supporting euro payment transfers between accounts in less than 10 seconds and immediate availability of funds to the payment beneficiary. SIA provides access to this infrastructure with SIAnet, which is specifically designed to meet the requirements of instant payment and instant clearing systems. Finastra's real-time payments gateway solution will allow financial institutions to access payments platforms such as RT1 via SIAnet in order to execute pan-European instant payments.