STET is in the process of implementing a new CSM for the SEPA SCTinst scheme to be launched in November 2017. The instant payments scheme is driven by regulation, competition and market demand. Supported by new technologies instant payments inevitably will become the new normal.

To meet this challenge, STET is delivering a new CSM built for the future. Based on our highly resilient and secure clearing infrastructure and an equally secure and robust real time 24/7 messaging platform, STET will deliver a new generation system scalable to pan-European capacity and delivering instant payments clearing and settlement in seconds.

The main features of the SCTinst service are:

  • Instant messaging 24/7 based on our real time processing experience.
  • Less than 1 second for CSM processing
  • Orchestration of Business and Technical message flows and Timeout management and reporting
  • Instant Multilateral net Clearing based on Mirror Accounts reflecting the collateral placed by participants to guarantee settlement.
  • Multilateral net Settlement in TARGET2 ASI interfaces
  • Integration of the Clearing and Settlement components to allow collateral and liquidity management including alert messages
  • Web services to provide on-line information services in support of Operational and Treasury functions
  • Value Added services that may be required by participants:

  • Fraud scoring based on our card fraud scoring tools

  • Proxy data base to securely retrieve BIC/IBAN from mobile number
  • Tokenisation for the protection of sensitive data
  • Transaction Value Date mismatch reporting/clearing & settlement
  • Very competitive pricing based on our established market position