Serbian central bank has launched an instant payment system (IPS) to facilitate money transfers in the country. It was introduced in Serbia last October; it's region's first IPS - and it was launched one month before the Pan-European IPS.
Commercial banks have been obliged to offer payment channels to their clients. To one of those – one of the largest and oldest operating banks in Serbia – Banka Poštanska Štedionica – S&T Serbia has helped implementing this solution.
The Bank is now able to process payments (B2B, B2C, C2C), 24x7, 365 days a year, in real time. Although the request was to enable transfers within 10 seconds – with our solution it takes a couple of seconds only. The Bank is now within top two by the number of IPS orders in Serbia.
The biggest challenge on this complex project was to complete it within tight deadlines imposed by the central bank. Together with the software solution – S&T has provided full hyper-converged infrastructure solution. This infrastructure is based on two DellEMC VxRail appliances and DataDomain and ensures very high performance, high availability and disaster recovery. Very satisfied with both software and infrastructure solutions, the Bank now intends to migrate other banking systems to it, relying on support from S&T Serbia.