Instant Payment Architecture
Discover the robust architecture behind iASPEC EnterpriseConnect (FPS) solutions for seamless faster payment services.
Micro-Services Architecture:
Enabling Flexible Business Rules
EnterpriseConnect FPS incorporates a plug-in architecture that allows financial institutions to customize business rules for payment validation, routing, and compliance. This design facilitates integration with core banking systems and external services such as AML screening, achieving high straight-through processing rates through metadata-driven configuration and Spring Bean registration.
Component-based
The plug-in framework supports component-based implementation, enabling banks to adapt to regulatory changes without extensive recoding. Rules are executed in defined sequences, with audit trails for parameter modifications.
Scalability
This architecture ensures scalability, with load-sharing configurations for high availability, and supports multiple deployment modes including on-premises and hybrid cloud environments.
The Architecture of Our Instant Payment Solutions
EnterpriseConnect FPS is structured as a store-and-forward messaging platform extended for faster payment services. The core application engine handles ISO 20022 messages via messaging queues such as IBM MQ or JMS-based services, ensuring secure transmission with hardware security modules for digital certificate management.
The system integrates with central clearing houses like HKICL FPS through extensible payment channels. Key components include the FPS core services for credit transfer (C2/C3), direct debit (D1/D3), refund/return (R1), eDDA services (simplified and standard), and addressing services supporting proxies such as FPS ID, email, mobile number, and HKID.
Integration layers connect to core banking systems for automated posting, reversal, and settlement. The back office administration console provides role-based access control, system monitoring, exception handling, and reconciliation reports. Deployment supports Red Hat Linux with Tomcat and databases like PostgreSQL, MySQL, or Oracle.
Visual representations in workflow diagrams illustrate transaction flows, from reception through validation, compliance checks, and settlement. This microservices-based design, built on Spring Boot and Java, incorporates Redis caching for performance and REST APIs with OAuth2 for secure integrations.
The architecture addresses challenges such as multi-format support (MX/MT), legacy system compatibility, and peak-load scaling, while ensuring regulatory compliance through built-in AML integration and sanction screening.
Strategic Collaborations for Instant Payment Solutions
iASPEC deliver compliant Faster Payment Solutions in compliance with Central Clearing House (HKICL, BCS etc) support efficient integration and regional expertise.
Seamless integration with local regulatory frameworks.
Robust compliance with industry standards and regulations.
Enhanced security through regional partnerships and expertise.
Explore the Architecture of Our Instant Payment Solutions
This architecture integrates with local regulators to ensure compliance and efficiency. It supports rapid, secure transactions across borders.
System Availability
System Availability
Fast processing capacity
Payment Processing Time
System Design Features
Transaction Through-put
