Product Overview

 

As the digital world has evolved, we have seen the adoption of technologies to improve payments processing, better financial crime compliance checks and improved security, alongside customer experience. Yet while industry-wide changes related to instant payments, Open Banking, ISO 20022 adoption, and competition from Fintechs are transforming the payments industry, legacy systems can be a challenge and expensive to maintain. Additionally, any improvements are typically costly without much impact on customer satisfaction.

 

Pelican AI’s intelligent Payment as a Service (iPaaS) platform offers unique opportunities to simplify, improve, and resolve some of these challenges while also leveraging opportunities with a comprehensive suite of payment processing APIs. Our iPaaS platform delivers exceptional levels of efficiency, control, and flexibility that reduces friction in payment processing in a cost-effective manner to provide better customer service and improve satisfaction and operating margins. Supporting the complete end-to-end payments lifecycle for all payments methods, and all clearing and settlement mechanisms, the platform is fully integrated with our AI-powered Financial Crime Compliance APIs - Sanctions Screening, AML, and Fraud Detection.

 

Spanning a full end-to-end suite of transformation, payments origination, routing, enrichment, statements processing, support for ‘R’ transactions and cash reporting services along with exception processing. iPaaS APIs work with existing and legacy infrastructures to provide innovative, intelligent and agile services that leverages AI to derive unforeseen payment processing optimisation and payment data monetisation opportunities The platform’s “plug-and-play” APIs offer effortless integration, flexibility, and cost advantage through “pay-per-use” pricing.

API-DrivenAPI-driven connectivity
Our APIs support internally built systems or external vendors, integrating all payments infrastructures, banks, and transaction types.
 Scalable & technology-agnosticScalable & technology-agnostic
Our modular and scalable cloud-native solution allows for efficient and resilient operations and protects from vagaries of 3rd party S/W upgrade & maintenance by providing automated, non-intrusive upgrades.

 

Integrated financial crime complianceIntegrated financial crime compliance

The platform offers a fully integrated AI-powered financial crime compliance APIs for Sanctions, AML, and fraud detection.

 

Data is now considered the most valuable resource, and not oil! Data has enormous potential, but data context or meaning without AI and analytics is an empty promise. The value of data is only realized when you apply analytics to gather insights that can improve with time. This in turn allows banks to perform operational optimisations and monetise customer and product insights by creating new value, an enriched customer experience and enable the creation of new digital business models and revenue opportunities.
  • Monitoring: Collect customer, product, and operational data to create retrospective reports and dashboards that monitor, report and alert on what has happened.
  • Insights : Apply data science and design thinking to uncover potentially Valuable customer. product. and operational insights that predict business outcomes.
  • Optimisation: Prescriptive analytics to optimise key business and operational processes and systems to create intelligent·apps and smart products that continuously learn.
  • Monetisation: Leverage customer, product and operational insights to create new revenue opportunities by creating value and enriched personalised user experiences

Use of Artificial Intelligence & Data

Pelican Financial AI Hub offers various AI techniques-based solutions in four key areas of payments and accounts information transactions processing:

  • Data Cleansing and Normalisation.
  • Data Enrichment and Categorisation
  • Data Insights and Predictions
  • Prescriptive Actions and Recommendations

The above four pillars of financial AI Hub are complemented by other digital technologies using API and cloud platforms with an intuitive user experience, providing your customers with an agile and omnipresent solution delivering hyper-personalised products and services.

Data Insights using AI is useful for a wide variety of use cases that help drive revenue, cut cost and reduce risk, including:

  • Churn Prevention
  • Next Best Action based on inflow and outflow
  • Price Optimization
  • Customer Lifetime Value
  • Up-Selling and Cross-Selling personalised product
  • Predictive Resourcing
  • Customer Segmentation
  • Expense & income Forecasting
  • Lending Decisions

A complete payments platform – on cloud

 

Our iPaaS platform offers a complete payments solution through APIs, delivering exceptional levels of efficiency, control, and flexibility, with built-in connectivity to support all types of domestic and cross-border payments including Target 2 ESMIG platform.

It integrates all payments infrastructures, banks, and transaction types, including:

  •  Target2, ISO 20022 Fedwire, Lynx, HVCS+ for Domestics High-Value Payments
  • TIPS, FedNow, RTP, Instant Payments (Real-time)
  • EBA RT1 SEPA Instant Payments (Real-time)
  • EBA STEP2 for SEPA Credit Transfers and Direct Debits
  •  SWIFT MT & MX for cross-border correspondent banking
  • Open Banking and PSD2 APIs 

 

The APIs are ISO 20022 ready and support multiple formats out of the box like SEPA, SWIFT – MT & MX, ISO 20022 FED, ISO 20022 CHIPS, local ISO 20022 based RTGS, ISO-based faster payments, and future support for additional payments rails such as Visa, Mastercard, Western Union, Ripple etc.

Product highlights

 

  • Comprehensive end-to-end payment processing through “pay-as-you-go” APIs
  • Supports both ISO 20022 and legacy payments formats
  • Integrated AI based Financial Crime Compliance suite for Sanctions, AML, and Fraud detection
  • Built-in connectivity to Target2 ESMIG Platform
  • Pan-European domestic and cross border payments processing
  • Microservices based scalable architecture
  • Built-in data and artificial intelligence layers for intelligent products and services offerings

 

  • Suitable for instant payment schemes - robust, scalable with high throughput / low latency
  • Configurable dashboards and reports for internal operations as well as access to the bank's customer (if required)
  • Offers AI based value added components for payments data normalization, enrichments and categorization

Solution Capabilities

Comprehensive payment processingComprehensive payment processing

Complete processing of SEPA, RGTS, Faster, Cross-border payments.

 

isoISO 20022 support

Support for ISO 20022 message formats for both domestic and cross border payments.

 

Integrated complianceIntegrated compliance

Integrated AI based optional financial crime compliance solution for sanctions, transaction monitoring and fraud.

Leveraging AILeveraging AI

Using various AI techniques for payments data normalisation, enrichment and smart routing.

 

Detailed analyticsDetailed analytics

Reducing the need for last minute, quick reporting, this solution manages it for you so you can continue with business as usual.

 

Cloud and APICloud and API

Available as PaaS (Payment as a Service) with cost-effective “pay-as-you-go” pricing

Key Benefits

Speed-to-market

Develop and launch innovative product and services that expedite time to value within hours/days rather than weeks/months

Integrated financial crime and compliance

A single payment platform to provide full end-to-end payment processing including sanctions screening, AML, and fraud monitoring, without requiring additional 3rd party integrations

Cost-effective

Trade upfront capital expense involved in setting-up & launching a new payment product or service for operating expense through a simplified “pay-as-you-go” pricing

Better visibility

Centralised payments and cash visibility across all channels and accounts under one platform.

Improve customer experiences

The single platform for processing all payment types and exception handling allows for faster responses for the customer.

Find Out More

STP Brochures & Datasheets

Please use the Download button below to access the full library of Pelican Payments information resources for both Banks and Corporates, including datasheets covering Payments Hub, STP and Open Banking.

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