Retail Payment Processing Platform Launched by SIA
Italian financial IT provider SIA has launched an automated clearing house system for processing retail payments – SIA-ACH. SIA developed and currently manages the Bank of Italy’s ACH and EBA-STEP2, the pan-European Clearing House for retail payments in Euros, commissioned by the Euro Banking Association. SIA-ACH offers an innovative proprietary platform, designed to enhance central banks’ and ACH associations’ return over investments and guarantee efficiency and security, reducing risks. The modular structure allows SIA-ACH to be deployed in a reduced and cost-effective environment, or alternatively in an extended and high performance computing environment. Indeed, unlike traditional ACH services, a customised ACH solution can be promptly and easily shaped: a set of additional modules, each one focusing on a major functionality, is available to be quickly linked to the basic platform and to the needs of the central bank.