Dovetail Smart Gateway Solutions

Banks that offer payment services through multiple channels and payment engines are faced with a challenge in today’s rapidly changing payments landscape. Ideally, payments would be processed from all channels in a consistent manner, but inevitably the processing performed and the availability of systems and services can vary significantly. These processing inconsistencies frustrate customers, increase the bank’s risk, raise the cost of operation and maintenance and significantly impede change and innovation.

As the opening hours of schemes are being extended and the new wave of real-time schemes moves to full 24×7 payment processing, the problem of service availability is greatly amplified. Moreover, banks that operate across multiple clearings (whether in a single currency or more broadly) face this same problem many times over, with even greater hurdles to change.

In the long term, a digital transformation program focused on replacing multiple legacy systems with a single global payment services hub will solve these issues. But often this is not a practicable answer in terms of lead-time or priorities in investment cycles.

Dovetail offers a fresh alternative. The Dovetail Smart Gateway Solutions allow banks to consolidate clearing connections onto a single cost effective platform so that common business functions are performed in a consistent way across channels and clearings, while supporting specific clearing messaging and protocol requirements on a plug-in basis.

As with all Dovetail solutions the Dovetail Smart Gateway Solutions are based on the Dovetail Payments Platform. This provides a set of core transaction management and messaging functions, with additional options to address specific business needs. For banks looking to progressively transform their legacy systems this gives banks the option of being able to easily extend the Dovetail Smart Gateway Solution to a complete Dovetail Payment Solution.

Key features and benefits:

  • Minimal system impact – reuses existing channel and payment system message flows
  • Lightweight and easy to deploy – unlike a full payment system, incorporates only those features required for 24x7x365 gateway operation and clearing connectivity
  • Suite of real-time APIs for direct channel interaction
  • Interaction with existing payment system via ISO20022 messages where required
  • Full support for multi-entity and multi-bank operations on single solution
  • Highly scalable on commodity hardware
  • Extensible – a bank can start with a single connector and expand in the future to a variety of clearings including EBA SCT Inst, other SCT Inst, TCH, EBPS, FPS, other ACH and RTGS clearings, as well as SWIFT

Dovetail Insights

The Value of Instant
Research on the pricing of instant payments
Instant Payments Global Survey
Report on a survey by Finextra and Dovetail
The Rising Tide of US Electronic Payments
How the slow and steady world of payments in the US is changing