IT Smart Systems: follow-up on Smart Payment Gateway launch in October 2020
Romania, February 18th, 2021: IT Smart Systems (ITSS) had officially launched the public beta version of SmartPG* on October 6th, 2020.
Following an intense four-month period of development and testing, ITSS is proud to follow-up on the public-beta launch with the newest updates:
- SmartPG has integrated and normalized access to Romania’s most important banks (BRD, BT, BCR, CEC Bank, ING, Raiffeisen) and Revolut for both AISP (account information) and PISP (payment initiation) flows.
- Smart PG has successfully performed live production tests forAISP transactions, with live production user information for BCR, BT, and Raiffeisen.
So far, ITSS has invested 1772 person-days in developing the Hub, and the company’s investment engagement continues: in addition to supporting specific production integrations requirements coming from their customers , the SmartPG Team is working hard to keep the commitment on the roadmap in the following directions:
- add Unicredit to the list of supported and normalized APIs
- add bulk payments support for the PISP API
- consolidate and improve the resilience of the solution by adding another availability zone inside the EU space
- add optional enhanced audit capabilities for all API calls
ITSS reiterates the invitation to access the Hub’s Portal and feedback the new, improved experience.
*Few outlines for our first-time readers:
SmartPG (Smart Payment Gateway) is one of the most performant PSD2 Integration Hubs in the country.
SmartPG facilitates consumers’ access (regulated third-party providers, or TPPs) to the banks exposed APIs in a simple, secure, unified and aggregated manner. It is compliant with Berlin Group Standards and Regulations. The Hub is continuously evolving and improving, and IT Smart Systems granted a particular emphasis on the security component, as protecting the consumer’s identity is vital in financial services.
The AISP (Account Information Service Provider) flow summarised diagram:
The PISP (Payment Initiation Service Provider) flow summarised diagram:
PSD2 is a regulation in European Economic Area, enabling payment users to better control and access their transactional account data by giving regulated third-party providers the ability to initiate payments and access customer account data.
Using the cloud-native Hub, the TPP will use a single integration, cutting development costs, increasing time-to-market, and minimizing the impact of estimated infrastructural adjustments.
IT Smart Systems delivers the IT components of Digital Transformation programs, offering their customers open banking API solutions to bring new products and services into the market. Smart PG lies at the core of these solutions and encompasses ITSS know-how in the open banking and digital identity space.
“Smart Payment Gateway is open for start-up fintechs to accelerate innovation and lower the entry barrier into PSD2 space”, states Cristian Barbu, Managing partner IT Smart Systems.
About IT Smart Systems
IT Smart Systems (ITSS) is a Digital Business Transformation Company working with partners across Europe since 2002. The company has strong capabilities in delivering IT components of Digital Transformation programs in the following domains: Open Banking implementations (with UK Open Banking and NextGenPSD2 Berlin Group compliant solutions), integration of the backend capabilities following SOA best practices, orchestration of all interactions across the entire ecosystem of clients, partners, employees, and systems, while securing external access to services by intelligent Identity & Access Management and exposing services through all digital channels.
With a team of ~150 highly skilled IT-Professionals focused/specialized in a few niche areas, we at ITSS are currently digitalization and integration enthusiasts. We are continually enhancing our capabilities by embracing our client’s tech challenges in successful implementations to keep IT simple.
Ioana Dumitru, Marketing and Brand Development