New applications for users of Elixir and Euro Elixir systems developed by Sygnity for KIR support growth of the banking sector

05.01.2017

As a result of collaboration between Sygnity and the Polish National Clearing House (KIR) the banks using KIR’s Elixir and Euro Elixir clearing and settlement systems are now using the new release of user application. Key benefits brought by the application developed and deployed by Sygnity include convenient information retrieval and data monitoring as well as multiuser operation capability. The application can handle even up to 2 million transactions per hour.


The Elixir and Euro Elixir interbank clearing and settlement systems operated by KIR are crucial to effective operation of Poland’s banking sector, allowing clearing and settlement of millions of transactions every banking day. The Elixir processes the bank transfers and direct debits in Polish zlotys, while the Euro Elixir system operating within the integrated infrastructure of SEPA (Single Euro Payments Area) is used to process domestic and international transfers denominated in euros. Collaboration between KIR and Sygnity resulted in development of a new application boosting the efficiency of transaction clearing and settlement processing at all banks using the Elixir and Euro Elixir systems. Deployments at individual banks went on without any issues.


“Providing access to new user applications in the Elixir and Euro Elixir systems is one of the major technological changes introduced by KIR since the initial implementation of the first release of the Elixir electronic clearing and settlement system. Efficient implementation of the solution was made possible by effective and professional collaboration between the banks, KIR and Sygnity,” stressed Michał Szymański, Vice-President of the Management Board of KIR.


“One of the key advantages of our solutions is the ability to use the services provided by KIR without a need to install the application in bank’s infrastructure. With this option the functionality is provides as a web service. This model was selected by over a dozen banks. Others that opted for onsite installation are now able to fully parameterize their clearing and settlement process – from purely manual up to fully automated.” said Mariusz Jurak, Managing Director, Banking and Finance Sector at Sygnity.


Boosting the application’s performance allows processing up to 2 million transactions per hour at present. A new feature is also the addition of two interfaces allowing integration of the solution with banks’ internal systems. Besides the existing file based interface, now the data can be exchanged with banks’ IT systems using web services. In turn, in view of the expected growth in the number of transactions with time, the database interface allows a faster and easier integration with banks’ information systems.


“Effective IT solutions in the banking sector are supporting its growth through, among others, optimization of data exchange processes and ever increasing automation. Our competencies and broad experience in development and implementation of IT systems allow us to comprehensively respond to requirements of the dynamically changing market. The new user interface allows convenient information retrieval and data monitoring as well as multiuser operation capability, so the banks may manage their selected processes even more effectively,” summed up Roman Durka, Vice-President of the Management Board of Sygnity.

Contact for media

Beata Drzewicz

+48 504 142 011

bdrzewicz@sygnity.pl