Products
RTS/X is a multi-currency RTGS with ILF plug-in. It includes liquidity management facilities such as queue management, gridlock resolution, credit lines and minimum reserve requirements. It supports operations such as cash withdrawals, cash deposits, and forex operations, plus DvP (delivery versus payment) models I, II and III, PvP (payment versus payment) process and settlement of net transactions. There is an intra-day liquidity facility plug-in and support for Swift FIN Copy service. BCS/X is an ACH system with cheque clearing plug-in. It supports direct credits and direct debits as well as cheque processing and is compliant with SEPA rules and regulations. The system allows session-based and online clearing processing. It supports online bill-book management and batch-based and item-based clearing. It allows a session schedule with any number of sessions a day. It provides cheque image clearing plug-in functionality for cheque truncation and clearing including image transmission, storing and indexing.
Other Products
Apart from the aforesaid products, CMA also has three other products related to payments: TMS/X – Transaction Management System, IFTS/X- Instant Funds Transfer System and MTX/X- Message Converter.
TMS/X or the Transaction Management System was introduced by CMA in 2015. It is a middleware solution that is used to establish Straight-Through Processing between Central and National financial institutions systems such as RTGS, ACH, CSD and Commercial Bank applications. The solution is built on message-based, Web-enabled technology using Java. Its open architecture facilitates integration with internal applications such as Core Banking System, and provides a payment middleware layer around legacy systems, to allow flexible access to new protocols and services. Main features include STP enabler for transactions, instant payments, direct debits, eMandates, aggregates and segregates payments, message format conversion, online monitoring, payments structure analysis, built-in BPM and Tasks engines, and extendable modular architecture (plug-ins). The solution also has interfacing capabilities such as SWIFT messaging interface that can be used in conjunction with the SWIFT Alliance Gateway, Qualified product for SWIFT InterAct and FileAct service etc. TMS/X clients include over 25 commercial banks in Oman and Azerbaijan, besides other regions such as Standard Chartered Bank, Bank of Jordan, etc.
IFTS or the Instant Funds Transfer System that was introduced in 2015, is an online, instant payments system that offers funds transfer/collection services for a range of economic sectors,
Cheque processing functionality is integrated into the ACH package. It can interface with the RTGS system for settlement on end-of-session and end-of-day basis. It supports online settlement request for high value items. DEPO/X is a central depository system. It supports an
issue registration facility based on a locally accepted or ISIN numbering scheme and multi-layer participant hierarchy including custodian, agent, and beneficiary owner. The system supports flexible algorithms for interest proceeds, coupon payments, amortization and maturity. It also provides integration with the RTGS system for DvP models I, II and III. It provides a framework for Repo operations including tri-party Repo with collateral arrangements. It incorporates matching functionality for support of OTC trades. The system can be integrated with one or more stock exchanges and settlement institutions to deliver services to investors, custodians, market participants and issuers. It includes an auction plug-in module for managing auctions within the depository infrastructure.
from individual remittance transfers to government and large corporate institutions payments. IFTS is built around CMA’s payment processing engine and provides point-to-point security through payment and information exchange over secure private network and/or SWIFTNet, with electronic digital signatures and traffic encryption. The main features of the system include instant P2P and B2B payments services that facilitates immediate funds availability, bill payment collections supported by Electronic Bill Presentment and Payment module (EBPP), Cheques/E-Cheques processing and Remittance services (for processing of in-country remittances as well as inbound/outbound foreign payments). The product also has additional modules such as eMandates (direct debit payments), Fraud Detection and Management, Fee and penalty collection, Statistical module (provides System Operators, Participants and regulatory entities with a set of reports, charts and other statistics which allows trends analysis in payment processing based on different dimensions like payment volumes and values per payment type, participant type, business day window, and other parameters), DNS Service (that provides internationally-accepted session-based Clearing functionality for Direct Debit and Direct Credit instructions including Mandate management and other related functions) and Central Customer Database (to manage central clients database for IFTS system). The product caters to private and public sector institutions such as Commercial Banks and Branch services, Internet and Mobile banking, Mobile operators, Billers and their affiliates, and payments from different types of financial service Providers sources such as Credit Bureaus, Micro Finance, and Money Transfer Operators. Some of the key clients of IFTS include Central bank of Cambodia, Benefit Bahrain and Online Clearing System for National Bank of Rwanda.
MTX/X is a message or file-based conversion utility, aimed at Payment Systems & Suppliers Report |
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