CBA Completes SEPA Instant Payment Testing with EBA Clearing
Norwegian software vendor Commercial Banking Applications (CBA) has confirmed that it has completed testing of instant payments with EBA Clearing – with the result that its IBAS SIP – SEPA Instant Payment Solution can now support the processing of real-time payments for banks connecting to the EBA Clearing Instant Payment System.
IBAS SIP is a fully integrated component within CBA’s IBAS Global Payments Factory (GPF), a real-time payment engine built using object-oriented technology. During end-to-end testing with EBA Clearing completed in early June 2018, IBAS GPF used web services to look up, verify and handle the execution of the instant payment using EBA Clearing’s RT1 infrastructure. IBAS used EBICS as the transport mechanism and will support SWIFTNet once this is available in Q4 2018.
The IBAS GPF, is already in use by numerous banks across the Nordic region, as well as OCBC Bank in Singapore to manage its international payments. CBA’s approach with IBAS helps banks avoid many traditional implementation issues and future proofs their business.