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Payments Hub Platform

PS-PayHub

ProgressSoft’s Payments Hub is an innovative, agnostic platform that handles all payment types and serves as a centralized, end-to-end orchestrator for financial institutions’ entire payment management process. It provides a unified solution that supports transactions across local and regional market infrastructures, cross-border networks and peer-to-peer payment rails.

The cloud-native platform includes essential features for supporting the entire Swift messaging for trade, treasury and money market transactions, in addition to facilitating instant, direct credit and debit transactions. Additionally, as a native ISO 20022 system with integrated support for MT-based messaging, it facilitates seamless digital transformation with minimal disruption to financial institutions' existing ecosystems.

Payments Hub Platform

Features

Global Compliance and Compatibility
PS-PayHub complies with Swift guidelines and services including Cross-Border Payments and Reporting Plus (CBPR+), Swift Go, Swift pre-validation, SwiftRef and RMA Plus, as well as Swift messaging application programming interfaces (Alliance Cloud) among others. It has been awarded full compatibility by Swift, adhering to MT and ISO 20022 (MX) usage guidelines, market best practices, CBPR+/MT message standard validation, reconciliation, workflows, user interfaces, and additional Swift requirements. Additionally, Visa, Mastercard, MoneyGram and other major players in the market recognize PS-PayHub as a unified orchestrator for all types of transactions and remittances needed by financial institutions.
Global Compliance and Compatibility
Peer-to-Peer Payment Corridors
Peer-to-Peer Payment Corridors
PS-PayHub offers financial institutions a centralized platform to manage peer-to-peer payments across subsidiary banks, correspondents and affiliates in various countries and regions. It ensures compliance with local market infrastructure rules and regulations while significantly reducing costs associated with fees, charges and commissions.
Swift CBPR+ Translator
PS-PayHub embeds a Swift CBPR+ translator designed to help financial institutions seamlessly adopt MX for cross-border payments. It serves as a translation layer, converting existing MT messages into MX, and vice versa, for both outward and inward transactions. This reduces operational risks, supports compliance and ensures institutions are ready on time with minimal disruptions and high efficiency in managing cross-border payment flows.
Swift CBPR+ Translator

More features

Available Payment Types

PS-PayHub supports all types of payments including account-to-account, single, bulk, deferred, instant, direct debit, domestic and cross-border payments, along with real-time, post-dated and standing orders. It supports serial, cover and turnaround payments processing, posting and forwarding via agnostic integration capabilities with central, core banking, Foreign Exchange (FX), Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT), global payment networks and sanctioned list screening systems. It also supports all types of Swift messages, including FIN, InterAct and FileAct, which cover financial messages, trade and treasury transactions, reports and status updates.

Smart Correspondent Management

PS-PayHub allows financial institutions to define details for their correspondent banks and corporate customers including types, networks, nostro and vostro accounts, cut-offs, service-level agreements and more. Each correspondent can be assigned its own specific terms, such as working hours, weekends and holidays, time zones, average processing time, country coverage, accepted currencies, and applicable fees and charges. This can be managed across all available networks including Swift, Visa, MasterCard, MoneyGram, Western Union and others.

Smart Payments Routing

PS-PayHub manages the end-to-end processing of outgoing, incoming and vostro payments, directing them through designated process flows, validation rules and destination networks. This includes comprehensive FX calculations, fees and charges for customers and correspondents, and full management of accounting entries. PS-PayHub also applies various validation sets to determine the optimal route for outgoing payments based on pre-defined parameters, FX rates, fees and charges, rebate and service-level agreements, and preferred transaction distribution percentages. PS-PayHub's advanced correspondent directory and monitoring of nostro balances enables it to recommend the best routes for outgoing payments based on the bank's preferences and beneficiary requirements.

CBPR+ Ready Solution

PS-PayHub is a Cross-Border Payments and Reporting Plus (CBPR+) ready solution that supports native CBPR+ messages workflows and guidelines. It includes embedded charges, fees, and correspondent management modules, enables processing payments with minimal manual intervention, and supports centralized, hybrid, native and translator ISO 20022 migration approaches. PS-PayHub also fully supports CBPR+/GPI tracking messages including payment status updates and tracker status APIs for digital channels.

Swift Go Ready Solution

PS-PayHub is Swift Go ready, facilitating fast and competitively priced low-value payments for both GPI and non-GPI financial institutions. It features an embedded API for initiating, monitoring and receiving Swift Go payments, making it suitable for mobile and online banking with minimal to no changes required to existing back-end systems.

Regulatory Compliance and Support

PS-PayHub supports all types of message processing and integrates with Swift’s Relationship Management Application (RMA), as well as interacts with FIN and FINplus services, ensuring comprehensive SwiftRef integration. The platform fully complies with Swift’s Customer Security Program (CSP) and adheres to industry security best practices and standards.

Agnostic Market Infrastructure Support

PS-PayHub supports all types and formats of local or regional payment infrastructures. This includes customized payment formats and processing via Swift closed-user groups or private networks with market regulators. Financial institutions can define multiple payment schemes for RTGS, ACH, IPS, and other electronic bills and invoices. Currently, PS-PayHub supports various regional payment schemes such as AFAQ and BUNA.

Digital Channels’ APIs

PS-PayHub provides open APIs for seamless integration with all digital channels, including mobile, internet banking, wallets, corporate banking, open banking, bank-as-a-service, physical branches and host-to-host connections. These APIs facilitate easy payment initiation, submission and inquiry while allowing financial institutions to efficiently manage and process transactions. Financial institutions can standardize their front-end user experience and handle new networks or payment types effortlessly, with PS-PayHub managing the backend. This approach also simplifies ISO20022 migration with minimal cost and effort.

End-to-end Payments Orchestrator

PS-PayHub supports multiple processing modes across various payment sources, destinations, and customer segments. The three standard processing modes are "Full" for complete end-to-end management, "Pre-Debit" for handling quotations, routing and nostro management, and "Pass-Through" for basic routing with optional screening.

Benefits

Streamlined Processes

Automates manual tasks and provides faster, streamlined payment processing

Optimized Efforts

Accommodates rapid market demand changes without altering back-end systems

Reduced Costs

Lowers operational costs and expenses related to migrating and maintaining legacy components

Centralized Data

Provides improved transaction visibility and decision making through centralized data

Enhanced Scalability

Handles higher transaction volumes and facilitates the introduction of new value-added services

Efficient Migration

Allows for gradual migration of legacy components in alignment with the institution’s demand plan

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