Financial services technology provider FIS has helped French bank Natixis Payments to connect to the European TargetInstant Payment Settlement (TIPS) scheme.
Image: FIS has enabled Natixis Payments to connect to the TIPS scheme. Photo: courtesy of sixninepixels / FreeDigitalPhotos.net.
Natixis Payments, part of Groupe BPCE, is claimed to be the first French bank to take advantage of the new instant payments messaging service.
TIPS, which is an initiative of the European Central Bank (ECB), offers instant payments processing and settlement in the 34 countries within the Single Euro Payments Area (SEPA).
The TIPS system will help process and settle payments within seconds for person-to-person, person-to-business and business-to-business transactions, enabling to enhance the speed and efficiency of payments within Europe.
Earlier this year, Natixis collaborated with FIS to offer instant payments within its intra-group network, as well as connect to the real-time payments clearing and payment system operated by major European infrastructure provider STET.
The collaboration allowed Natixis to better serve its customers through providing benefits of instant payments on day one of the ECB’s TIPS instant payments service.
Natixis Payments financial institutions and processing head and deputy CEO Jean-Luc Thérond said: “Natixis Payments is committed to being a pure player at a European scale. Real-time payments are a major stake, we have been investing for years in infrastructure to make that happen and FIS has been a key partner every step of the way. Working together, we are leading the way to the future of payments.”
FIS global financial services payments executive vice president Raja Gopalakrishnan said: “We commend Natixis Payments for its visionary leadership in bringing the benefits of real-time payments to its customers.
“We look forward to continuing to support Natixis as it further enhances its market-leading capabilities in this exciting and dynamic market area.”
FIS has client projects and real-time payment schemes in the US, the UK, Europe, Australia, Hong Kong, China, Singapore, Malaysia, Thailand and other regions across the world.
Based in Jacksonville of Florida, FIS offers retail and institutional banking, payments, asset and wealth management, risk and compliance, and outsourcing solutions.
With around 52,000 employees, the company provides services to over 20,000 clients in more than 130 countries.