Banks that do business in multiple countries and regions face an interesting challenge: how can they ensure that their biggest and most valuable corporate customers get the same high-quality payment clearing and settlement services no matter where they conduct their banking activities? How can they compete on the one hand with long-established local and domestic banks who have entrenched home-country advantages, while on the other hand keeping regional and global peers at bay?
Dovetail’s Universal Payments Solutions are designed with these challenges in mind. For domestic payments, they support immediate settlement, deferred settlement, and real-time payment types and clearings in a wide range of countries across the globe. For cross-border transactions, they support SWIFT correspondent bank messages as well as cross-border low value exchanges using ISO 20022. Equally capable processing batch or real-time/item-level, the Dovetail Universal Payments Solutions offer industry-leading performance and reliability in a highly configurable and rapidly deployable package.
The solutions feature a set of core functions common to all banks needing to support universal payments, with additional Dovetail Universal Payment Solutions Options for specific business needs, such as nostro cash flow management, or the provision of agency services. The modular design ensures that the solution can be easily integrated with a bank’s existing systems, reducing implementation effort and accelerating time to market.
In common with all Dovetail solutions, the Universal Payment Solutions are based on the Dovetail Transaction Architecture.