What is an instant payment?

Instant payments refer to transactions made from one account to another, available 24/7 and completed within 10 seconds.

What is the difference between Instant Payments and Standard Credit Transfers?

Instant payments, also known as SEPA real-time transfers, are Euro transfers within the 34 countries of the Single Euro Payments Area. These transactions enable the transfer of funds within seconds – anytime, around the clock and 365 days a year. While instant payments are processed within ten seconds, standard transfers can take one or more days to complete. In the EU, the transfer amount for instant payments is capped at 100,000 Euros.

What role must an IT system fill in instant payment sanctions screening?

Instant payment screening and the need to perform the sanctions lists check within 500 milliseconds and no more than a second has a massive impact on the IT infrastructure and requires interface adjustments. The storage of hits and clarifications must also be adapted to the strict time regime and the cache, workflow and GUI all have to be further optimised.