Diasoft Enhanced Its Payment Processing Solution with Revolutionary Payment Hub Capabilities

Wednesday, September 9, 2020

Diasoft has released a new version of its payment processing solution for banks. The new version has been enhanced with advanced Payment Hub capabilities, which ensures a revolutionary approach to the payment processing architecture at domestic and international banks.
The Payment Hub approach allows creating a single centralized automated system for processing of all payment documents of a bank. This system works like a conveyer and ensures end-to-end supports of the payment processing workflow, including enrichment of data, verification of payers and payees, internal and inter-bank routing of data and other steps that banks used to complete separately in different product management systems. After all payment processing steps, the Payment Hub ensures centralized interaction with separate components of the banking system (General Ledger, Settlements, Reporting, etc.) in accordance with the bank’s rules and policies.
Creating a Payment Hub, the bank establishes unified rules for processing of all payment documents and obtains a single point for configuration of business rules, integration and development of payment services.
According to Sergey Dobridnyuk, Product Director for Payment Processing Solutions at Diasoft: “Implementation of the Payment Hub can significantly simplify product management systems involved in the process. The most important thing is that poor support of payment services by such systems will not hinder the bank from the overall development of its payment platforms any more”.
Implementing the Payment Hub together with Diasoft, the bank can ensure simultaneous processing of all steps of the business process for the same payment documents. The system also delivers a complex result of the processing that combines responses immediately from all control procedures.
“Traditional banking systems normally stop the processing of payments and notify the comptroller if any notification arises during the processing. If a document contains several critical errors, it can be returned to the comptroller at the next step, which makes the overall process quite tiresome. Nowadays, manual control and thousands of bank employees involved in this process require significant time and financial input at any large bank. With the Payment Hub and our support, a bank expert needs to fix the list of issues just once to guarantee almost 100% execution of the payment order in the future”, added Sergey Dobridnyuk.
In the Payment Hub, Diasoft used modern asynchronous mechanisms for inter-service communications. Diasoft’s engineers streamlined technologies of event-driven notification, subscriptions and distributed transactions, and supported modern message brokers, such as Apache Kafka and RabbitMQ.
In the new version of the solution, Diasoft also improved basic mechanisms of centralized data storage. In this project, Diasoft ensured support of the newest Oracle 19 Database, having become the first large provider of banking software that implemented its payment components on Oracle 19 at the domestic market.
“Oracle 19 allows building out-of-the-box hyperconverged integrated system and ensures containerization, improved information security and continuous operation under large workloads. Such technological approach easily ensures operation 24/7/365, both on the basis of the bank’s own data center and in cloud-based ecosystems. Oracle databases have become a de-facto standard of corporate financial systems, and it is important to ensure support of all of its up-to-date versions”, summarized Sergey Dobridnyuk.
Importantly, in March 2020, Diasoft successfully completed benchmark testing of its payment solution on two databases: Oracle and PostgreSQL. The test simulated processing of more than 20 million payment orders per day in a complex organizational structure. The results of the tests were beyond expectations – despite the enormous workload, all required operations were completed within the expected time limits. The identified bottlenecks were immediately fixed, which allowed Diasoft to release a new version of its payment solution enhanced by new functions and better performance and scalability capabilities.
Diasoft is confident that the Payment Hub moves the banks’ payment business to a new level. According to Diasoft’s experts, the task for creation of the Payment Hub is important for all large banks, both at the domestic market and globally.