SIC Instant Payments en sept questions

Finastra answers key questions on the implementation of SIC Instant Payments as part of the second. Similarly, phase of transition from Swiss banks. In addition,

The second wave of banks entering the last transition phase towards instant payments. Furthermore, via the Swiss Interbank Clearing (SIC IP) decisively contributes to preserving the global competitiveness of the Swiss banking sector.

Here are the answers to the most frequent questions about the implementation of SIC IP:

1. Why does the BNS (Swiss National Bank) impose this transition. Therefore, and what is the role of six?
   SIC5 is the latest generation of the Swiss paying system. In addition, the fruit of a joint BNS initiative and six Interbank Clearing AG. Meanwhile, The BNS launched sic instant payments en sept the SIC IP project to modernize the Swiss banking ecosystem and strengthen its competitiveness worldwide. However, Six has developed a platform to perform payments in less than ten seconds, 24 hours a day and 365 days a year. Moreover, Based on ISO 20022, this platform offers reinforced automated treatment (STP) and better interoperability between systems.
2. What banks should SIC IP adopt?
   All Swiss banks dealing with mass payments must migrate to SIC IP. More than 60 large banks have already completed this transition in the first phase. The others will have to comply with it by November 2026.
3. What are the main advantages for banks and their customers?
   The advantages include reduced operating costs. as automation results in lower transaction costs, as well as optimized liquidity management: the instantaneous regulations offer banks better visibility in real time on their own liquidity. For end customers, this results in greater availability and increased convenience, sic instant payments en sept thus improving overall satisfaction.
4. How long does it take for a SIC IP implementation project?
   A typical SIC IP implementation project lasts between six. nine months, from initial planning to the first tests with the SIC network – or even longer in the case of complex IT systems. This period allows a complete assessment. integration and internal tests of systems before six is mandated to carry out official tests and certification. Rigorous planning. neat integration, in -depth internal tests and sufficient time for official certifications of six as well as end -to -end tests are essential for a successful launch.
5. What internal adaptations are necessary to ensure treatment of payments and antifraude 24/7 antifraude monitoring?
   The transition to the permanent availability required by SIC requires highly available system architecture. Banks may have to change their core banking system. migrate to a new platform if their current providers do not meet these requirements.

   To sic instant payments en sept guarantee real -time treatment, banks can set up a parallel accounting or substitution module operating alongside the main system. This guarantees high availability and automation, and can be accompanied by the implementation of operational teams available 24/7.

   Project teams are also necessary to comply with test windows and ensure fluid commissioning. From an organizational point of view. 24/7 support structures and automated monitoring mechanisms are also required, in particular for real -time controls linked to fraud and sanctions.

6. Can we continue to use current banking suppliers?
   Core Banking Systems existing must be examined to ensure that they are compatible with instant treatment. high availability and interoperability with SIC IP. Infrastructure providers who do not yet take care of instant payments. or are not being integrated, could compromise the capacity of banks to meet test times.
7. How to run fraud and compliance checks in real time without delaying treatment?
   To comply with the period sic instant payments en sept of ten seconds. avoid an increase in false positives, banks must set up fraud and sanctions controls specifically designed for real -time payments environments.

   Key elements include ultra-fast control modules with dynamic risk assessment. automatic and regular updates of sanctions lists, as well as workflows automation for low-risk transactions.

   Another essential element is the verification of transactions fueled by the AI for the fight against money laundering (AML). because continuous monitoring by AI makes it possible to update the risk profiles in real time.

Find out more about the transition to SIC Instant Payments thanks to Finastra resources, click ici.