Asseco is prepared for the implementation of ITS in Angola
As part of the development of its financial system, Angola is preparing to implement a new payment system, the ITS - Instant Transfer System. Aware of this new reality, Asseco PST has already developed a solution that will allow its customers to successfully manage their transfers via ITS.
The creation of the new payment system is a decision of the National Bank of Angola, in line with the latest trends in international markets, and is part of a broader project that includes three phases: instant transfers, payments for services and in-store purchases/payments.
In this context, Asseco PST, in close collaboration with EMIS - Empresa Interbancária de Serviços, as the managing entity of the Angolan payment network and responsible for implementing the new system, is currently in the certification testing phase of the solution it will provide to banks .
These tests have the double objective of confirming our solution's adequate response to the requirements demanded by the new system, as well as of identifying possible adjustments and improvements that minimise the impact of this new model's adoption by the banking institutions.
ITS incorporates a diversified set of components, from which we highlight a real-time transfer system that allows funds to become available to the payee in a maximum of 10 seconds, through a single payment instruction. This system ensures the continuous availability of the services (24x7x365), guaranteeing the liquidity of the participants, since it is a pre-financed system, reducing credit risk.
In phase 1 of the project, Asseco PST has integrated the Promosoft Financial Suite (PFS) into its platform, a solution that will allow banks to manage their ITS transfers from both the payer's and payee's perspective. This solution consists of a set of components according to the needs of each financial institution, also including a middleware to communicate with EMIS.
In terms of remote channel solutions, Asseco PST also provides functionalities for its Internet Banking and Mobile Banking solutions, such as the request for ITS transfers and the corresponding queries. For banks that do not have our remote channels, we also have solutions that allow making transactions available.
Additionally, we provide other solutions and services in the areas of Governance, AML, Data Analytics and Integration, which may complement this offer in an integrated and innovative way, contributing to enhance the banks' business and the efficiency of their internal solutions.
After completing phase 1, we will also provide the functionalities that will meet the requirements of phases 2 and 3 of this project promoted by the Angolan central bank.
With this first and rapid response to the process of setting up the new payment system in Angola, we believe that we have developed a solution that fully meets our customers' needs.