Borica, the national Bulgarian payment service provider, has successfully introduced a tip (Target Instant Payment settlement) module developed by Montran. This solution enables Bulgarian banks access to tips, the immediate payment of the ECB, which is connected to the Bulgarian bisera. The current local immediate payment service, Blink, is now expanded via the SCT INST-payment system in euros for local and SEPA payments.
Borica was looking for a comprehensive, future -proof solution to connect member banks to tips and at the same time improve the possibilities of liquidity management. Building on his existing Instant Payments platform at Borica, Montran delivered a tailor-made expansion with two prefunding modules: one for tips that supports international accessibility, and another for euros, which is handled domestic transfers. With these modules, the banks can manage their liquidity positions in both systems via uniform interfaces and thus flexibly initiate medium transfers.
The solution also includes advanced liquidity monitoring and control with a seamless interface to tips, T2 and step2 About Swift.
“With the solution of Montran, we can now offer our member banks efficient access to tips for immediate payments,” said Vania Ganeva, Head of Payment Services at Borica. “The improved instruments for liquidity management enable banks to optimize their positions in tips and euros and thus ensure the operational efficiency and compliance with European standards.”
Keith Esca, Global Sales Director at Montran, added: “Our cooperation with Borica is an example of the commitment of Montran to provide tailor -made solutions for specific market requirements. The successful commissioning of this TIPS connectivity module underlines the strength of our partnership in promoting innovations, enabling immediate payment and supporting SEPA conformity for Bulgarian banks. “
After strict tests, the TIPS connectivity module is now ready for use and adapts the Bulgarian payment infrastructure to the latest European standards for immediate payment and processing. This milestone represents significant progress in increasing efficiency and cross -border interoperability of the country’s payment systems.
Information on Montran
Montran is the leading provider of payment and capital market infrastructure solutions that operate the world’s leading financial institutions with business-critical installations and operations in over 90 countries. Find out more under www.montran.com.
Information about Borica
Borica ad is a Bulgarian stock corporation whose shareholders are 19 banks in the country. The company has developed the technological infrastructure of the Bulgarian payments sector and operates it today. Borica has been a reliable partner of the public sector, banks and payment institutes for over 30 years. The company endeavors to offer modern and innovative solutions for financial institutions.
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