Advanced payments solutions for a rapidly changing world
Consumer demands for instant processing combined with digital, cloud, and regulatory transformation including ISO 20022 are changing the payments landscape forever, yet many institutions are still grappling with rigid legacy systems, and need to adapt.
Pelican AI provides a comprehensive range of Artificial Intelligence (AI) powered payments integrated with financial crime compliance solutions to address these challenges. The modular platform uniquely combines AI technology and Pelican’s unrivaled expertise in global payments to enable intelligent payments management across the entire payments lifecycle - without the need to replace existing internal systems.
The digital payments hub offers all types of payments processing in the EU region for domestic ACH (SEPA), RTGS (Target2), Faster Payments (SEPA Instant, RTP, FedNow), and cross-border (SWIFT) payments.
One complete and comprehensive solution available on the cloud as Payment as a Service (PaaS) for both payments and optional financial crime compliance allows banks to improve operational efficiencies, reduce the cost of ongoing maintenance and management with improved customer satisfaction.
Pelican AI leverages its 25+ years of AI experience for payments normalisation, enrichment, categorization, optimisations, and recommendations with detailed insights & analytics for better customer service and increased revenue and margins.
Pelican Payments can bring low-cost automatic smart routing of payments delivery to various channels based on the content of the payments for very high Straight Through Processing (STP), and advanced message repair to life in just a few weeks. All while providing exceptional levels of efficiency, control, and flexibility.
This is Pelican AI’s advanced payments platform, backed by 25 years of AI and payments expertise. Purpose-built, completely secure, seamlessly integrated, and utterly essential.
98% STP rate
Enjoyed by Pelican clients. Benefit from exceptional STP rates by leveraging AI.
$8m - $ 10m new revenue achieved
By a global bank after rolling out Pelican solutions.
Fully integrated payments and financial crime solution. 50% Capacity increase without the addition of new resources. 70% cost reduction in manual repair & enrichment.
Digital Payments Hub
Next-generation payments and compliance suite
Payment systems worldwide are undergoing significant transformation due to ISO 20022 and the introduction of real-time (or Instant or Fast) payments.
Cross-border payments, High value (RGTS) payments, and instant payments along with many ACH systems like SEPA, will all be using ISO 20022 based message formats, globally. This means by 2026, 80% of global payments will be in ISO 20022 format, especially for major currencies. This will significantly transform the payment landscape. All banks and vendors will be able to provide SWIFT, faster or instant, RTGS, and ACH payments in ISO standard formats. With popularity of scalable cloud technologies, containerisation and microservices, scalable payment platforms will be “standardised” and commonplace.
In addition, due to increasing fraud and financial crime, regulators are increasing the number of checks for sanctions screening, AML, KYC, and fraud. This means an efficient, integrated, and seamless financial crime compliance check is now a mandatory requirement within any payment solution – on-cloud or on-premise.
Pelican AI provides one component-based integrated system to manage payments, compliance, and fraud checks. This allows for a single view of all data, enabling corrective action to meet strict processing times, along with the ability to have one common view of the customer transactions for both payments and compliance. (Essential for Faster or Instant payments.)
Pelican AI’s Digital Payments Hub allows banks to be highly efficient in their processing environment and compete with Fintechs and other banks at the same time as effectively meeting regulatory requirements with very low false positives and all within one single instance of Pelican.
Pelican AI Digital Payments Hub can also provide a standalone Instant Payment processing platform for built-in real-time payments and compliance. It allows banks to add immediate payments functionality to their current infrastructure while retaining existing investments in legacy systems, providing quick access to the liquidity and service benefits of real-time transactions - without the traditional implementation challenges and costs.
As part of Digital Payments Hub, Pelican offers several value-added components for a comprehensive and integrated payment processing environment.
Leveraging the Al disciplines of NLP and Machine Learning, Pelican Secure Enterprise Sanctions Screening is a market-leading financial crime compliance solution.
- Supports multiple instant payment schemes for connectivity and payments processing.
- Integrated with Pelican's compliance filter for real-time payments and FCC solution.
- Full end-to-end solution with integrated APls.
- Account mirroring and validation - providing a stand-in mode bridging the gap of core systems that are not 24 x 7 x 365.
- Integrated, any-to-any payments and messaging Hub for all banks and payments and statement transaction types.
- Supports high and low-value domestic payments, Instant payments, cross border payments (SWIFT) including payment initiation.
- Intelligent routing of payments based on the content of the payments using AI and NLP.
- Automated file management, reformatting, and routing directly to clearing banks or networks.
- Automated repair, enrichment and scheduling with end-to-end exception processing.
- Intelligent and automated payments and statement matching and reconciliation.
- Connects to any core banking or bank office system with multiple protocols including API.
- Built-in sanctions and financial crime compliance filter within the Pelican platform enabling regulatory compliance out of the box. Plus robust reporting, dashboard, analytics.
- AI-based payment enrichment and data normalisation as an add-on module.
- Cloud or on-premises deployment availability.
- Provides high throughput / low latency with a robust and scalable architecture.
Financial AI Hub
Payments optimisation and monetisation
Payments analytics and monitoring: AI can significantly improve monitoring. From providing better customer service to categorising payments and statements through to intelligently matching them. Providing insight into customer behaviour as well as improving fraud detection and prevention.
Insight and recommendations: In addition, through valuable data insights, led by historical information and ISO 20022 payments data, a business can improve profitability, optimise revenue, and cut costs.
Improve process optimisation and reduce friction and associated costs: By using AI to perform continuous learning, machine readable data can then be used to update models dynamically. This can support operational efficiencies by reducing manual effort (e.g., auto repair and enrichment).
Data monetisation: Leading firms are now using various AI techniques such as machine learning and NLP to monetise the data itself by detailed insight into customer payments and statements.
Improved customer experience across the banking journey: With the use of various AI techniques, banks can reduce friction in payment processing, search rapidly and efficiently through this data beyond the standard set of factors like time, velocity, currency, beneficiary, types of transactions, country and amount. They can then analyse this data in new and innovative ways to vastly improve customer experiences.
Most critically, systems can learn from each transaction, constantly improving and becoming more effective — something unique to machine learning and AI.
The solution offers an intelligent repair, routing, reporting, and revenue generation platform that drastically increases capacity and reduces costs. AI technology transforms STP, fuelling the matching of unstructured text with speed and precision.
The unique AI foundation of the PelicanPayments platform enables intelligent contextual understanding along the payments chain, elevating automation above the capability of standard rules-based systems.
- Data normalisation allows better understanding of data for payments optimisation, enrichment and better financial crime compliance with low false positive rate.
- Highest STP rates using Natural Language Processing (NLP) for complex payment repairs.
- Auto-routing, based on content and business objectives.
- Self-learning - learns from an operator for high STP rates.
- Increased correspondent banking revenue using AI to integrate billing and payments systems.
Pelican Fast is the in-built real-time payments and compliance functionality within Digital Payments Hub. It allows you to add instant payments functionality to current infrastructure while retaining existing investments in legacy systems.
Providing quick access to the liquidity and service benefits of real-time transactions without the traditional implementation challenges and costs.
- Supports multiple instant payment schemes for connectivity and payments processing in Europe and US.
- Integrated with Pelican’s compliance filter for real-time payments and FCC solution.
- Full end-to-end solution with integrated APIs.
- Account mirroring and validation - providing a stand-in mode bridging the gap of core systems that are not 24 x 7 x 365
Open Banking’s potential, realised.
Regardless of the standard you are using, Pelican’s Open Banking solution enables multiple payment initiation schemes for better connectivity and payments processing.
Our API solution provides a comprehensive suite of dynamic API capabilities for ASPSPs and third-party providers (TPPs). So that you can adhere to or participate in open banking initiatives such as the revised Payment Services Directive (PSD2) in Europe, and the Open Banking Standard (OBS) in the UK.
- API conversion and aggregation service removing the need to support multiple APIs.
- Support for several use case based solution APIs for low integration costs and faster time to market.
- Platform to enable secure sharing of data over API with TPPs.
- AI and Data analytics powered solution enabling you to harness and manage/monitor/monetize your data.
- Integrates quickly and easily with existing legacy systems -no need to rip and replace.
Pelican Payments Solutions
Find Out More
Built for simplicity and scalability, you can integrate Pelican in as little as four weeks. Reach out and our global team will help you find the right solution for your business.
Related resources & information
Article: ISO 20022 is all about data: How can you leverage it?Learn More >
Solutions: Are you ready for the Nextgen payments?Learn More >
Free guide: How AI transforms ISO 20022 migrationLearn More >
Totally Integrated. Uniquely Powerful.
Pelican AI’s solutions leverage the unique capabilities of the Pelican Platform.
Each of Pelican's award-winning payments and compliance solutions leverages the advanced capabilities and technologies of the Pelican Platform. These include the Artificial Intelligence disciplines of Machine Learning, Natural Language Processing and Voice processing; Open API integration; rich Omni-Channel UX; flexible Cloud deployment scenarios; and real-time capabilities.
Collectively they provide a uniquely rich technology core, powering the most advanced and capable payments and compliance solutions.