Natixis first French bank to connect to TIPS
FIS says it has enabled Natixis Payments to connect to the European Target Instant Payment Settlement (TIPS) scheme – making it the first French bank to join the new messaging service launching this week.
This follows on from September when Natixis selected Swift to provide connectivity to TIPS within the Single European Payments Area (SEPA).
An initiative of the European Central Bank (ECB), TIPS provides instant payments processing and settlement across the 34 countries. The new scheme aims to process and settle payments “within seconds” for person-to-person, person-to-business, and business-to-business transactions.
“Real-time payments are a major stake, we have been investing for years in infrastructure to make that happen and FIS has been a key partner every step of the way. Working together, we are leading the way to the future of payments,” says Jean-Luc Thérond, head of financial institutions and processing and deputy CEO of Natixis Payments.
Natixis Payments, part of Groupe BPCE, the second-largest banking group in France, is a “long-time” customer of FIS. The bank worked with FIS earlier in 2018 to provide instant payments within its intra-group network and to connect to the real-time payments clearing and payment system operated by European infrastructure provider STET.
FIS remind us that it has also partnered with clients to deliver projects supporting The Clearing House in the US, the Faster Payments scheme in the UK, Australia’s New Payments Platform, and Singapore’s Fast and Secure Transfers (FAST) system.