Iliad Solutions launches new testing standards for SEPA real-time payments

Image of the definition of the word Rule
Image licensed by

Global payments testing service Iliad Solutions has announced the next SEPA Instant Credit Transfer (SCT Inst) rulebook version.

To help organisations transition to the new SCT Inst, Iliad Solutions has offered support via its new SCT Inst Testing Solution, an orchestrated version of its t3 payment testing platform.  

The updated rule book is set to go live in March and contains the business and operational rules for the SCT Inst scheme. Launched in November 2017, the payments scheme enables real-time processing of cross-border payments within the Eurozone.

Iliad Solutions has said that ‘the solution empowers financial institutions to securely simulate all types of instant payment journeys included in the new 2023 rulebook’, across both internal and external ecosystems.

Anthony Walton, CEO, Iliad Solutions, commented: “With Europe’s major financial institutions facing more operational pressures than ever before, staying up to date with the latest banking innovations is a perennial challenge. 

“Our SCT Inst Testing Solution enables quality managers, technology officers, and operations leads to deploy the new SCT Inst version with confidence.”

In recent years, the firm has provided support in ATM testing for Serquo as well as launching joint support with Pay.UK as it announced the general release of its aforementioned T3 test and certification platform for New Payments Architecture.

As part of the upgrade, the new solution aims to ‘create bespoke tests’ tailored to a company’s unique environment, run automation using Iliad’s test studio and palettes with a blend of test data and quickly see where errors are occurring with user-friendly test results. 

In addition, it also enables users to manage all data centrally to ensure full sight of all results at all times, thoroughly test downstream applications affected by real-time payments and allow for test automation with data tagging. 

Walton concluded: “Banks and payment providers who want to remain at the forefront of financial innovation need to embrace this upgrade, we can help!”