Fintechs/PSPsTalk to the team
Fintechs are faced with addressing a rapidly changing market place in a world where speed to market is critical. The Sentenial platform is designed to deliver many of the ingredients required to meet these challenges.
Providing services to world leading financial institutions for over 10 years, the Sentenial cloud based platform has proven scalability, reliability and security. By design the platform supports a variety of different business models including the ability to be fully white labelled. Services can be delivered under Sentenial’s licences or using the licence of the user.
Sentenial is licenced, under its Nuapay brand, as an Authorised Payment Institution with the ability to issue current accounts to business customers. These accounts support making and receiving electronic account-to-account payments helped by the additional functionality derived from the fully integrated Sentenial payment engines.
A key feature of the Nuapay accounts is that all of the functionality is accessible via an Application Programming Interface (API) which allows tight integration to be achieved between Nuapay and the user’s business processes. Further flexibility is provided from the ability to operate with virtual accounts.
Using APIs to imbed Nuapay banking and account functionality within a business solution gives unparalleled options to deliver a market leading user experience, improved operational efficiency and enhanced security.
Real Time Payments
From a global perspective real-time payments are becoming the norm. To meet this need for euro transactions a service has been developed to support the initiation and receipt of SEPA Instant Credit Transfer payments. A direct connection to European Banking Association’s RT1 infrastructure is used to deliver this service. The service is available to any suitably licenced body that wishes to offer euro denominated real-time payments to their customers.
Services using the UK Faster Payments scheme are available within Nuapay account functionality. This capability includes notification in real-time of the receipt of a Faster Payment transaction.
Open Banking technologies, whether payment initiation, account information or both, create considerable opportunities for Fintechs allowing the development of new, disruptive and innovative products covering a wide range of financial services.
To improve the accessibility of these technologies Sentenial has developed a standardised API based interface that isolates the user from the need to know how to route to a specific ASPSP, to understand the technical structure of an ASPSP’s interface and to match the security needs of that ASPSP.
Sentenial is itself licenced to provide both Payment Initiation Services and Account Information Services with the platform able to support users who wish to operate under the Sentenial licence or to operate in a white labelled mode relying on the licence of the user.
The basic Open Banking regulations do not deliver all of the functionality required to fully meet the needs of many use cases. To assist in filling these gaps Sentenial has developed a range of product extensions, including money handling capabilities, that allow full, cost effective and secure end user applications to be delivered with ease.learn more