SIA has introduced SIA EasyWay, a digital payments platform designed to manage instant SEPA payments.

The new platform will enable financial institutions and payment service providers (PSPs) with adoption and management of SEPA instruments such as SCTs and SDDs.

It will allows banks and other PSPs to manage at European level the instant payments on EBA Clearing’s RT1 infrastructure developed by SIA, as well as all other SEPA payment and collection instruments.

The platform will also give access to EBA Clearing’s RT1 and will also link the other European Automated Clearing Houses (ACHs) and future instant payments platforms.

The other services offered by SIA EasyWay include fraud monitoring and prevention, identification of suspicious transactions.

The new service will also ‘mirror account’, which facilitates instant payments even when the current account systems are unavailable.

SIA EasyWay will operate as a hub and slash costs and activation times for financial institutions’new services by simplifying the integration of instant payments with their internal systems.