Distra Solution Enables Payments Convergence
Distra has launched Universal Switch. The new offering marks the availability of real-time convergence and consolidation of payment types for financial and non-financial institutions. It enables different payment and message types to be run across a single platform and allows organisations to quickly address cost, regulatory and competitive challenges, with minimal risk and maximum reliability.
Based on Distra’s smart, modern switching platform, already proven in multiple tier one institutions, the Universal Switch is suitable for both the retail electronic funds transfer (EFT) market and the wholesale banking environment. Supporting enterprise level, real-time performance and availability requirements, the company says that it also enables conversion between real-time and batch payments processing models.
Architected specifically to enable payments transformation, the solution includes advanced payment switching applications capable of performing a variety of payment processing rules including multi-leg transactions, and supporting multiple payment channel types such as ISO 8583, ISO 20022 and batch. It runs on an intelligent fault tolerant platform proven in a tier one environment, supports Payment Card Industry (PCI) and Payment Services Directive (PSD) compliance, and enables real-time transaction metrics and performance reporting.