Dion Global Solutions has launched Real Time Payment Engine (RTPE) solution, which will enable banks to comply with the regulatory directive and also meet their customers’ demands.

A modular payment hub, RTPE will support processing of real time payments and will allow banks to become compliant with new European regulation, European Payment Services Directive, which becomes effective in 2018.

The multi-channel solution, according to the company, will allow banks to connect to their customers via corporate banking, internet banking, mobile banking, or branch banking.

The solution supports ISO20022 based ‘Common Global Implementation-Market Praxis’ (CGI-MP) standard for customer connectivity.

Developed on Dion’s SEPA Gateway solution platform, RTPE’s architecture provides a 24×7 availability that supports existing SEPA workflows along with foreign currency and domestic payments as well.

Dion Global Solutions chief technology officer Andreas Wagner said: “The PSD2 directive requires banks to rework the payment processing cycle and implement a far more efficient and quicker method. Using Dion´s messaging technology X-Gen, our RTPE application is a real time payment hub that will support banks to comply with the upcoming payment initiatives.

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“We provide a cost efficient solution as it embeds into the existing application and process landscape. Due to its modularity customers can select only what they really need to improve process efficiency.”