Automated Transfer System (ATS)
Provides irrevocable clearing and settlement of financial transactions between Central Banks and Participants efficiently and reliably…
The Montran ATS Solution
The Montran ATS is specifically designed to meet and exceed the standard required by today’s Central Banks for RTGS and ACH processing. The Montran ATS solution handles very high volumes of both high-value payments and low-value payments, such as credit transfers, direct debits and cheques, and combines efficiency and reliability of service with sound position maintenance and intraday liquidity management facilities.
Besides the real-time gross settlement of high-value payments, the Montran ATS is also an electronic clearing system that enables files of low-value payment instructions, including truncated cheques together with their scanned images, to be exchanged among financial institutions. It calculates multilateral net positions and settles them within the settlement module in either a continuous or deferred settlement mode.
The solution is based on modern web technology, using Java Enterprise architecture and components combined with RDBMS and PKI based security. The open architecture and the open standards simplify integration with other financial systems. Since the system is Java based, it can run on a wide choice of hardware, operating systems and databases, and can be implemented, maintained and enhanced with efficiency. The software architecture allows for maximum hardware platform independence providing the overall ATS solution with benefits of cost and reliability.
The modern architecture and flexible tools of the Montran ATS solution make it easier to optimize the cash flows, to enable flexible STP and to enhance liquidity management facilities necessary for the oversight and execution of monetary policy. The solution’s electronic delivery mechanism ensures secure delivery of payment orders to the central system and manages the queuing and delivery of payments and confirmations to the participants.
The Montran ATS is designed and sized to handle large volumes of payments and files. The low-value payment processor of the Montran ATS system has been benchmarked, together with an independent Auditor, and proven to process more than 25,000,000 payments within two hours on a dual-socket Intel machine (8 cores). The system may optionally forward detail files on validation. Incoming data files may be transformed into batches per Bank and recombined into signed outgoing data files per recipient bank to reduce network over-loading.
Features of the Montran ATS
- A modular component structure to meet individual country requirements and for flexibility in growth and expansion as needs arise.
- Final and irrevocable settlement of funds transfers continuously in real-time
Centrally located queuing of payments held awaiting availability of funds.
- Automatic gridlock resolution
- Instant Funds - 24/7 clearing with flexible settlement.
- Real-time monitoring, including - but not limited to - messages, count and volumes of RTGS and ACH payments, actual and projected positions, account balances for both the ATS operator and participating institutions.
- Credit and intra-day liquidity management facilities by using collateral funds provided by other financial systems through real-time interfaces
- Flexible reserve liquidity capabilities driven by transaction types
- Payment entry and processing using standard SWIFT, ISO20022 and NACHA message formats
- A multi-currency and multi-lingual system
- Full support for SWIFTNet FIN, Browse, InterAct and FileAct services
- Cheque truncation and data capture from cheques at point of presentment, including image capture.
- Operational reliability with backup and contingency arrangements
- Complete audit trail, recovery and reporting facility
- Central ATS Engine – the highly optimized and efficient core settlement EJB3 application running on clustered servers for maximum performance and reliability, processing both high value and low value payments.
- Central Payment Originator – the centrally running server application with a thin-client architecture that provides users with the ability to manually enter all payment message types, SWIFT or non-SWIFT. It features on screen data validation, SSL encryption, digital signatures and compatibility with all popular Internet browsers.
- The ATS Webstation – it provides access to the web interface of the Montran ATS solution via a standard Internet browser, a VPN connection to the central system and a cryptography kit. The webstation requires no locally installed Montran software, therefore there are no system software maintenance requirements for the Participants.
- The ATS Gateway – the most cost effective solution for achieving maximum STP capabilities with external systems feeding payments to the ATS. Featuring standard JMS interfaces, the software is downloaded onto the Participant ATS webstations to securely channel batches of payments to the central ATS or Payment Originator system.
- Statistical Database and Reporting Module - this database is the repository of all information pertaining to the daily processing of transactions by the Montran ATS. It maintains the audit history of all transactions processed by the ATS and can be used to generate required reports.
- Billing Module - cost recovery interfaces with the Database and Reporting module to calculate charges and produce customer billing statements. Statement production is customized to Bank requirements. Automatically produced statements are printed, or transmitted via available networks.
The Montran ATS provides the highest level of protection and confidentiality of transaction information in the industry. The security standards are designed to meet or exceed those of the SWIFT network, even when not directly interfacing with SWIFT. Data access security is provided through both digital signature and encryption technology based on Public Key Technology.
For any sensitive operation, a four or even six‐eye approval policy is applied.
Screens are designed to be user friendly and intuitive, with customizable menus by way of user profile functions. The system supports integration with an LDAP server as a Centralized User Repository, Single Sign On and two‐factor authentication.