Published: Aug 20, 2021
get ahead with NCS payment platform, a smart & instant payment solution
NCS payment platform: A cost-effective and scalable solution for regional payment expansion
Singapore’s drive to be a Smart Nation has created opportunities for new entrants to participate in the banking ecosystem.
NCS payment platform aims to transform the digital payment landscape in the Asia-Pacific region. Managing payment locally and across various geographies becomes simple and economical with our payment platform. Instead of building an in-house application to process high-volume digital transactions, financial institutions and non-bank financial institutions can tap on our cost-effective and scalable payment platform, making it easier for them to participate in the banking ecosystem faster.
As we continue to deliver our core services, our NEXT Services will focus on providing Digital, Cloud, Platform and Cyber solutions that will meet the needs of the financial services sector.
Overcoming hurdles
We understand the complexity and time needed to build an in-house payment system, as well as the high cost of manually integrating with funds-transfer services. Moreover, there is a lack of inter-bank visibility when it comes to transactions, and at every turn, we must ensure that it meets compliance standards. That is why NCS payment platform makes instant payment and overseas transfers easy, customisable, and ready-to-use.
Designed for customer-friendly experiences
NCS payment hub is a payment platform designed to deliver customer-friendly and operationally superior experiences. It enables Fast and Secure Transfers (FAST) and PayNow transactions, GIRO, and high-value transfers via SWIFT MT and MX messaging formats.
With API connectors, our solution is designed for easy integration with banks and overseas funds transfer services. This ability to achieve operational excellence and scale quickly generates long-term cost benefits and is ideal for organisations with regional ambitions. It is a smarter way to work with intelligent routing, API connections, and a central view to track transactions.
Quick transfers
Pay and receive money faster through a fully automated electronic payment process, from initiation to settlement. With Straight Through Processing (STP), resources can be freed up, delays reduced, and human errors eliminated. NCS payment platform can process FAST payments across multiple channels, including online banking, mobile banking, and new channels that are springing up with the advent of 5G networks.
Smart routing
NCS payment platform can optimise the success rate of transactions with automatic sorting and correction of payment transactions. With an integrated routing rule database, our payment engine supports transactions with multiple banks and identifies receiver accounts.
Operationally efficient
The lack of inter-bank visibility has long been a challenge. In response, we have developed a product with a central payment engine. This gives banking officers a bird’s-eye view of the payment process and reduces the time it takes to identify a failed transaction.
Compliance made easy
To help businesses comply effortlessly with industry regulations, NCS payment platform is designed with anti-money laundering security features. It enforces the segregation of duties, ring-fences users’ access to data, and provides audit trails and two-step dual control for static data maintenance. Reports can be automatically generated to save time so that staff can focus on providing high-value outcomes for customers.
Accelerate market expansion
NCS payment platform can be quickly set up and implemented in a matter of months. Its configurable modules reduce the cost of research and development. It is highly scalable, as API connectors can provide seamless integration and an effective solution for accelerating growth and market expansion for payment businesses.
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