STET-CORE Simplifies Global Interbanking

STET-CORE is a game-changer for global interbanking, making transactions faster and more efficient. By leveraging advanced technologies, STET-CORE reduces the complexity and costs associated with traditional interbanking systems.

One of the key features of STET-CORE is its ability to process high volumes of transactions in real-time, eliminating the need for manual processing and reducing the risk of errors. This results in significant cost savings for financial institutions.

STET-CORE's modular architecture allows for easy integration with existing systems, making it a seamless addition to any financial institution's infrastructure. This flexibility enables financial institutions to adapt to changing market conditions and customer needs.

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STET-CORE is a unique technology that enables real-time monitoring and control of industrial processes.

It's designed to be highly scalable and adaptable to different industries and applications.

STET-CORE uses advanced machine learning algorithms to analyze vast amounts of data from various sources.

This allows it to identify patterns and anomalies that might be missed by human operators.

By providing real-time insights, STET-CORE enables faster decision-making and more efficient operations.

In the manufacturing industry, for example, STET-CORE can help optimize production lines and reduce downtime.

This can lead to significant cost savings and improved product quality.

STET-CORE's advanced analytics capabilities also enable it to predict equipment failures and schedule maintenance.

This helps prevent unexpected downtime and reduces the risk of accidents.

Overall, STET-CORE is a powerful tool for industrial process optimization and management.

STET-CORE is designed to be a highly scalable and secure solution. It's built on a modular architecture that allows for easy integration with existing systems.

The platform's use of cutting-edge cryptography ensures that all data is fully encrypted and protected from unauthorized access. This makes it an ideal choice for organizations that handle sensitive information.

STET Core operates in batch mode, where banks send large files containing 100,000 transactions that are then loaded into a relational database.

This approach ensures the reliability of the system, as STET can neither lose nor duplicate any of the 22 billion transactions it processes annually.

However, batch mode introduces inevitable delays in processing, which can take up to 2 days for a transfer or payment by card.

Currently, the processing time for a payment or transfer is around 1 to 2 days, which is too long for Europe's Instant Payment requirements.

The Euro Retail Payments Board has set a strict rule that money should be credited to the recipient's account within 10 seconds.

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STET Core 2 will operate in real-time, no longer processing block transactions, but instead transmitting transaction flows one by one. This is a complete overhaul of their system.

The system will treat all flows, including SEPA, card, and legacy flows, as well as Instant Payment, in real-time using a single, unified processing engine. This is a significant change from their current setup.

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For Instant Payments, the compensation process will be entirely different, with treatment, compensation, and settlement happening transaction by transaction and in real-time end-to-end. This will provide a much faster and more efficient experience for users.

STET's technical platform will evolve into a unified platform hosted in three active data centers. This will increase their capacity to handle more flows and meet their ambitions for a European presence.

The platform must be able to store a historical record of all events processed, as STET is heavily audited by clients, regulators, and security organizations. This is crucial for troubleshooting and error correction.

STET must be able to recalculate the position of all connected banks in real-time, a challenging task given the 20,000 to 30,000 operations they process every second. This requires a highly scalable and reliable system.

Several EU banks access STET's IP interbank exchange system with SBS's solution, which was specially designed and developed for this purpose.

STET's central role in Instant Payments requires significant changes in banking information systems and the full value chain, from payment order acquisition to completion.

Transfers between banks are central to these systems, and leading CSMs like STET provide this interconnection.

STET manages interbank exchanges in France and Belgium by ensuring interoperability with other CSMs, connecting banks from other countries.

SBS has developed a comprehensive offering, including a CSM connection solution called Instant Payment Clearing Exchanges (IPCE), designed in close cooperation with STET.

In France, Crédit Mutuel Arkéa and Transactis have already chosen this solution, while in Belgium, several banks will use IPCE, including Argenta, Nagelmackers, and Crelan.

This cutting-edge tool will greatly facilitate implementing Instant Payments for banks, enabling them to offer the service level and speed required to manage Instant Payment flows.

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STET's partnerships with banks are a key aspect of its Instant Payment platform. Many EU banks have chosen to access STET's IP interbank exchange system using SBS's solution.

SBS developed a comprehensive offering, including a CSM connection solution called Instant Payment Clearing Exchanges (IPCE), in close cooperation with STET. This solution was designed to facilitate the implementation of Instant Payments for banks.

Crédit Mutuel Arkéa and Transactis have already chosen SBS's IPCE solution in France. In Belgium, the solution is provided as a hub hosted by Sopra Steria, and several Belgian banks, including Argenta, Nagelmackers, and Crelan, will use it.

STET's central role in Instant Payments requires significant changes in banking information systems and the full value chain. Transfers between banks are central to these systems, and leading CSMs like STET provide this interconnection.

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