Case Study: Bankgirot achieves real-time 24/7 mobile payments with Finastra's Fusion Global PAYplus

Bankgirot Delivering Mobile Phone Payments in Real-Time

Bankgirot, the Swedish payments clearing house that operates the mobile payments service Swish (owned by six of Sweden’s largest banks), faced the challenge of delivering a real-time, always-on mobile payment service with no settlement or credit risk and a tight time-to-market. To meet requirements for ISO 20022 messaging, 24/7 operation, high performance and extensibility, Bankgirot selected Finastra’s Fusion Global PAYplus as the core processing engine for its new PRT (Payment in Realtime) platform.

Finastra customized Fusion Global PAYplus to power PRT while Bankgirot built an ecosystem—including an Riksbank-backed covering-funds mechanism and mobile-number-to-IBAN aliasing—to enable secure out-of-hours, instant transfers. The solution processes payments in about 1–2 seconds and supported rapid adoption of Swish: 850,000 users and SEK 1.3 billion transacted by October 2013, demonstrating the Finastra-enabled platform’s robustness, scalability and readiness for more real-time services.

Bankgirot

Gunnar Ölundh

Vice President and Director of Infrastructure