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Sopra Banking launches cloud-based instant payments solution

By Gloria Methri

April 11, 2024

  • Card Processing
  • Cloud Based Payments
  • Digital Core Solution
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Sopra Banking Software, Instant Payment Solution, SBP, Cloud-based Payments, FinTech, EuropeSopra Banking Software (SBS), the global FinTech company, has announced the launch of its cloud-based Instant Payments solution. The new technology enables banks and financial institutions to power secure instant payments for consumers anytime, anywhere.

The Sopra Banking Platform (SBP) Instant Payments solution expands the company’s existing digital payments services, which currently power more than 11 billion transactions for 250+ finance clients including Société Générale, Transactis and Banque Nagelmackers across 50 countries.

SBP Instant Payments’ API-based software enables banks and financial institutions to integrate instant payment functionality into their existing systems quickly. The solution’s cloud-native architecture provides around-the-clock availability to power instant payments in real-time, at up to 1,500 transactions per second.

Leveraging the latest technology and security standards, the solution ensures that organizations can scale their business without interrupting their customers and adapt to the evolving payments landscape defined by the European Payments Initiative (EPI), Request-to-Pay (RTP), One-Leg Out Instant Credit Transfer (OCT Inst), and more.

“The European Parliament’s decision to standardize instant payments across the region reinforces a larger, global sentiment among consumers and businesses who no longer want to wait days for their money,” said Eric Bierry, CEO of Sopra Banking Software. “For banks and financial institutions that rely on legacy banking systems, this means that there’s work to be done to comply with regulations and offer customers the experiences they want.”

SBP Instant Payments is part of SBS’s larger payments offering within its Digital Core Solution, which includes services such as cloud-based card processing, request-to-pay, payment reporting, payments crime management and more. SBP Instant Payments is used by some of the largest banks and financial institutions in Europe and currently processes 40% of all instant payments in France.

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