SRPN Adapter Instant Payment Settlement System

Get ready for a new payment standard in the banking sector

Brand new standard on the banking market 

Addressing the needs of both the banks and their clients, the Krajowa Izba Rozliczeniowa SA (KIR S.A.) scheduled launching of the instant payment settlement system (SRPN)  The system will allow for the payment orders exchange between the market actors in a way enabling their immediate execution. 

General assumptions of the SRPN Adapter:

• payments delivery in the 24/7/365 mode,
• direct transfer from the bank account of the payer onto the bank account of the payee,
• transaction service not exceeding 15 seconds, 
• Web Services/XML technology – ISO 20022,
• point notation of text messages prepared on the basis of the format used in the ELIXIR system.

Addressing the needs

In response to implementation of the SRPN system by the KIR S.A., Sygnity introduces the new product to its offer – so called SRPN Adapter – which meets all functional and technical requirements of the SRPN system (in the scope of communication with KIR). The SRPN Adapter has the embedded mechanisms enabling integration with any IT system of the KIR client (commercial banks, cooperative banks and SKOK - cooperative saving and loans institutions).

Benefits and opportunities 

The SRPN Adapter is a ready-to-use solution allowing the banks to reduce costs generated by complicated and time-consuming modifications of the transaction systems. Its application enables immediate use of the SRPN service. 

Implementation of the SRPN Adapter allows to meet the basic KIR requirements in the scope of availability of:

• paying i.e. instant transfer of any payment order made by the bank client accepted by the SRPN system operating within the KIR,
• receiving i.e. instant authorization of transactions and providing access to funds of the payee upon obtaining information on the payment execution in the SRPN.

Functionality

The basic system functionality is: 

• integration with KIR – communication (Web Services), security (confidentiality and credibility) specified by the KIR,
• integration between the business systems of the bank and the Adapter – among others the file interface (XML ISO 20022, ELIXIR, txt. files), API for databases enabling integration of the Adapter at the client’s business system database level,
• tool supporting serialization and de-serialization (from the relational / object database on XML, in ISO 20022 standard and vice versa),
• message archives (delivered between the KIR and bank) in original form (with the issuer’s signature),
• report and statistical modules supporting calculation of commissions. 

The supplementary functionality of the SRPN Adapter is the balance update module for the accounts covered by the instant payment settlement system, ensuring up-to-date information (in the 24/7/365 mode) on statistical data and available funds. Using the balance update module provides the opportunity to participate in the SRPN system on a 24-hour basis. 

The SRPN Adapter will be delivered to the clients accompanied with complete technical documentation describing the communication with KIR standard i.e. ISO 20022 and documentation describing the required scope of integration with any IT system of the client..

Contact us

If you are interested in the SRPN system with the use of our software, do not hesitate to contact us. We will kindly provide answers to all your inquiries.

Mariusz Jurak

Mobile: +48 504 142 271

email: mjurak@sygnity.pl