Impact Announcement: FIS Streamlines Journey to Real-Time Payments for Banks, Processors and Clearing Houses with New Test Solutions

21 June 2017

Key facts

  • * Allows adoption of instant payments with confidence
  • * Accelerates time-to-market, save time and control cost
  • * Includes simulation features for an end-to-end testing ecosystem
  • * Solution will be presented at Money 2020 Europe conference

Banks, payment service providers and clearing houses worldwide are moving to real-time payments systems. Whilst there are different options available to migrate - upgrade, purchase a hub or build in-house) - testing is key for any financial institution with an embedded customer-centric approach. Incidents or fundamental errors become more visible in a real-time world, damaging brand reputation. Quality touches the daily lives of banks and its customers.

The FIS test solution enables updated or recently installed real-time systems to be validated, ensures that functionalities remain accurate and verifies that added features perform as expected. Compliance risks can be identified and costly modifications of payment systems post launch can be eliminated.

Real-time payment systems need to manage instantaneous transaction processing, process feedback and interface with back-end systems as well as new APIs. All whilst adhering to a multitude of payment rules and complexities. This complexity level and the time factor inherent to immediate payments demands adequate testing techniques and tooling to support an efficient test flow.

The tool runs pre-defined or custom-made test cases in an automated way to avoid human errors, move faster and (re-)run tests whenever required. Moreover, the solution has the power to emulate those elements of the payment chain that are scarce or not available for testing purposes. The solution mirrors e.g. connected banks, clearing houses or real-time accounting systems, making these useful as sparring partners for sending and receiving payment transaction data. It creates an efficient and always-available test ecosystem. The solution is built on field-proven test technology resulting from 20 years of expertise in the fast-paced card payments world.

Key functionalities include:

 

  • * Payment generation and validation
  • * Cross-checks of payments, incoming and outgoing
  • * Service virtualization
  • * Automation capabilities
  • * APIs

Meet the FIS team at Money 2020, 26-28 June In Copenhagen, booth #A7 and learn more about how to benefit from this real-time payment test solution and optimize investments in real-time payments.

More information: https://www.fisglobal.com/solutions/payment-solutions/-/media/fisglobal/files/brochure/real-time-payment-test-solutions.pdf and via opentestsolutions@fisglobal.com

FIS is a global leader in financial services technology, with a focus on retail and institutional banking, payments, asset and wealth management, risk and compliance, consulting, and outsourcing solutions. Through the depth and breadth of our solutions portfolio, global capabilities and domain expertise, FIS serves more than 20,000 clients in over 130 countries. Headquartered in Jacksonville, Fla., FIS employs more than 57,000 people worldwide and holds leadership positions in payment processing, financial software and banking solutions. Providing software, services and outsourcing of the technology that empowers the financial world, FIS is a Fortune 500 company and is a member of Standard & Poor’s 500® Index.

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