FIS Technology Speeds Testing and Certification Process for RTP®, new Real-Time Payments System from The Clearing House
June 26, 2018
- New technology from FIS allows financial institutions to automate running of simulated transactions required for certification to The Clearing House’s RTP®, its new real-time payments system.
- Agreement builds and expands upon existing work between FIS and The Clearing House to bring benefits of real-time payment clearing and settlement to U.S. financial institutions.
JACKSONVILLE, Fla., June 26, 2018 – FIS™ (NYSE:FIS), a global leader in financial services technology, today announced an agreement with The Clearing House (TCH) to provide it with advanced technology for speeding the testing and certification process for financial institutions connecting to RTP®, a new real-time payments system recently launched by The Clearing House.
Financial institutions and payment firms looking to connect to RTP® can use the tool to test their readiness to complete RTP certification. They are required to run a variety of simulated tests prior to being certified on the RTP system. New software from FIS will automate the process, allowing participants to run the required tests and complete the precertification and certification process more quickly and efficiently.
“RTP® offers real-time transaction clearing and settlement for all U.S. banks and credit unions,” said Russ Waterhouse, executive vice president, Product Development and Strategy, The Clearing House. “Automating the testing and certification process will make it easier and faster for these institutions to get on board.”
The new agreement builds and expands on existing work between FIS and TCH to bring the benefits of real-time payment clearing and settlement to U.S. financial institutions. FIS offers innovative technology designed to help U.S. financial institutions accelerate the path to real-time payments.
“U.S. financial institutions are eager to bring real-time payments to their customers as quickly as possible,” said Marianne Brown, FIS co-chief operating officer. “By simplifying and expediting the testing and certification process financial institutions will be able to realize the benefits of real-time payments more quickly.”
Offered as both a hosted service and on-premises solution, the FIS certification technology allows financial institutions to begin testing of real-time payments in a secure, verified environment without the need for significant upfront investment. TCH participants can pre-certify their applications within the hosted service, or select to deploy the pre-certification solution on-premises.
FIS is a global leader in advanced payments solutions. The company supports real-time payments production environments in 27 countries worldwide.
FIS is a global leader in financial services technology, with a focus on retail and institutional banking, payments, asset and wealth management, risk and compliance, and outsourcing solutions. Through the depth and breadth of our solutions portfolio, global capabilities and domain expertise, FIS serves more than 20,000 clients in over 130 countries. Headquartered in Jacksonville, Fla., FIS employs more than 53,000 people worldwide and holds leadership positions in payment processing, financial software and banking solutions. Providing software, services and outsourcing of the technology that empowers the financial world, FIS is a Fortune 500 company and is a member of Standard & Poor’s 500® Index. For more information about FIS, visit www.fisglobal.com.
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