Third generation Clearing and Settlement architecture for real-time as well as other payment methods
High levels of creativity and innovation have resulted in making available the Clearing and Settlement System architected for Real-Time Clearing and Ultra-high Frequency Settlement. The product is designed to achieve high productivity and performance for the banking ecosystem, mandatory to achieve benefits that digital economies are slated to bring to consumers and businesses alike. This is the first-of-its-kind 3rd-generation system with a proven track record of delivering results at varying scales, depending on the levels of digital adoption in an economy.
Features
RS SettleEdge™ is architected to process stream-based data ingestion for settlement processing at high frequency without creating any backpressure on the online system.
Most clearing and settlement systems in the market offer batch-based processing, which translates into higher liquidity holding, thus resulting in inefficient liquidity management.
In contrast, RS Software’s unique and innovative architecture delivers dynamic on-demand settlement with multiple cycles at high frequency. This ensures lower liquidity requirements for the participating stakeholders, resulting in broader adoption and efficient liquidity management and positively impacting the economy. The modern data architecture takes Data towards Processing, resulting in high throughput.
It is the most appropriate technology solution for real-time payments. Moreover, it is designed with features to deliver the same advantages for clearing and settlement for other payment rails, like retail batch payments and high-value payments that require gross settlement.
API-First | Cloud-First | Microservices-based | Modular design | ISO 20022 Compliant | Stream-based Processing
On-demand Settlement | Active-Active Deployment
Performance
Adoption
Enables easy integration for banks with ISO and proprietary messages
Exposes APIs for Commerce, Payments and Mobile-first via digital service layer
Settlement
Quickly creates raw data files, net positions, and settlement reports using a modified map-reduce pattern
Integration
Easy integration for participants with a convenient onboarding process
Security
Provides configurable n-factor authentication, 2048-bit end-to-end encryption, and enables Fraud and Risk management
Interoperable
ISO 20022 compliant system
Limit Management
Tracks the consumed limit of every participating bank against their respective Net Debit Cap
Cost effective
Built using open-source technology, optimizing license cost and TCO
Our demonstrated track record
RS Software led the innovation for the world’s largest card scheme in re-architecting their Clearing and Settlement system. The solution offered the capability to process Clearing and Settlement for multiple products, including Credit, Debit, and Commercial card systems. Over the last two decades, RS Software has delivered various clearing and settlement functionalities for the client.
Our demonstrated track record
The bill payment network of India, Bharat Bill Payment System (BBPS), exclusively built by RS Software, is growing at a CAGR of 500%, resulting in top-line growth for bill payment aggregators while transforming the bill payment experience for billion+ people. One of the most successful use cases globally for Request for Pay.
RS SettleEdge™ enables the BBPS platform to support a throughput of 5,000 TPS (transaction per second) by ensuring the clearing and settlement system delivers a high ingestion rate ranging from 3500 to 4000 TPS.
Numbers are the best testimony to our credentials
300%
improvement in efficiency by using distributed data services technology
5000 TPS
throughput supported by the system
10 Mn
transactions in 10-12 minutes settlement processing rate
3.5-4K TPS
ingestion rate supported by the Clearing and Settlement system
Insights
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