The solution is a new component within CBA’s Global Payments Factory (GPF), a real-time payment engine, built using object-oriented technology. It enables banks to meet real-time requirements for the European Commission’s Single Euro Payment Area (SEPA) initiative.
The platform was built to handle end-to-end banking and payments processes in real-time, which makes it easy to accommodate the needs of immediate payment schemes around the world.
The company’s Global Payments Factory is used by several banks across the Nordic region, as well as by OCBC Bank in Singapore to manage its international payments.
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