Payment Gateway, SEPA, TARGET2 and Faster Payments are industry wide initiatives which can leverage new SWIFTNet functionality to reduce costs and offer new products and services.

ACE software solutions have built specific solutions to realise the business benefits of these technologies.

PELICAN is a end-to-end messaging platform that can handle processing of Inward and Outward messages and transactions in a straight trough processing mode. Scope also includes various payments such as Salaries and Central Bank and RTGS payments. The system is intended to be used by several departments and different geographical locations.

Payment Gateway
Payment Gateway is a comprehensive messaging platform that manages advanced messaging functionality. It supports the following key features:
1.  STP between SWIFT/RTGS/CB's and back-end systems
2.  Message Repair
3.  Processing of Value Dated Transactions
4.  Processing of Payment Files 
5.  Flexible Routing
6.  Reporting
7.  Provision for add-on features such as Fraud Monitoring and AML
8.  Parameterization
9.  Queue Management
10. Manual Message Repair
11. Message Authorization
12. System Administration and Security 
13. Callout Feature
14. ACK/ NAK Management

Solutions for Target2 and SEPA

Target2
TARGET2 will be based on a single platform infrastructure and will replace the existing TARGET (Trans- European Automated Real-time. Goss Settlement Express Transfer System) consisting of 15 different local RTGS systems.

Commercial banks and other financial institutions that decide to connect directly to Target2 will have to replace their connection from their local RTGS to the centralized and standardized SSP. They will have access to common account management services from central banks, and will have the opportunity to rationalize and centralize their liquidity and collateral management processes.

The enhanced services provided by the national central banks to the directly connected commercial banks and financial institutions will allow these institutions to pass on these new services to their corporate customers and sub-cleared/Indirect Participant correspondent bank clients that are not directly connected to the Target2 SSP.


Single European Payments Area - SEPA
SEPA aims to create a domestic payments market across the eurozone. It is scheduled to be launched in January 2008, when banks are expected to offer new euro payment services to their clients - European Credit Transfer (ECT) and Direct Debit (DD).The overriding goal of the SEPA, as formulated by European authorities, is to create a more competitive and transparent European economy.