BCS/X - New Generation Clearing Solution
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Low-value payments processing solution with unlimited capacity of custom instruments support. BCS/X solution provides extensive service of modern bulk clearing in real-time & 24/7 mode for P2P payments, direct debits, direct credits, cheques, remittances, bill payments and unlimited set of custom instruments.

The system supports all major standards and regulations in related areas such as SEPA and NACHA and flexible enough to interact with different types of settlement systems (RTGS, Banks).

BCS/X system is based on CMA’s pioneering PIE technology and associated methodology, which focuses on achieving efficiency and scalability through concurrent computing and parallel processing. Distributed loosely coupled architecture allows for efficient execution and distribution of software components or services for concurrent processing on multiple servers. This architecture minimizes bottlenecks and allows achieving new levels of throughput and performance.

Embedded Integration Bus and STP Gateway with well defined API allows to decrease integration costs with financial institutions and service provides. Flexible billing module allows introducing fee and penalty structure model that effectively manage costs associated with system operations.

  • Support of a full range of payment instruments: Direct Debits, Direct Credits, Cheques, Online Cheques, Remittances, Bill payments, Salaries etc.;

  • Support of configurable number of clearing sessions during a day;

  • Support of multi-currency clearing;

  • Support of different clearing and settlement modes including standard model, provisional settlement, real-time and near real-time settlement, session-wise clearing and settlement, payment instrument-wise clearing and settlement, currency-wise, protected clearing, guaranteed clearing, etc.;

  • Support a wide set of Risk management options: Debit Caps, Bilateral limits, Transaction and batch amount thresholds etc.;

  • Support of loss-sharing arrangements: “defaulter pays” and “survivors pay”;

  • Support of centralized and de-centralized mandate management including one off mandates, recurrent mandates, processing and transmission of mandate images, etc.;

  • Support of Standing orders facilities that are harmonized with mandate management functions etc.;

  • Processing of Salary payments;

  • Bill enquiry and payment module;

  • Retail model where Customers are registered in Clearing system;

  • Support of Black lists and AML checks internally or via interfaces with external systems.

In addition, BCS/X basic package:

  • Provides a wide set of options each of which provides high level of STP processing;
  • Supports multiple data feeds for information exchange with other systems;
  • Supports also SWIFTNet FileAct, InterAct and Browse services;
  • Supports SWIFT MT, MX (ISO 20022) format and mixed MT-MX environments;
  • Supports VPN (virtual private network) and SWIFT networks as message carriers together in any combinations;
  • Allows implementation of flexible and configurable business day schedule;
  • Can work in 24/7 mode.

BCS/X technical solution consists of the following components:

  • Production system in the Main site
  • Hot DR system in the Backup site to achieve Disaster Recovery
  • Test and training system

Participants are provided with web-based access to the system in 24/7 mode.

There are no single points of failure (SPOF) within production system in the primary system. System in the Backup site allows failover in contingency cases, such as complete unavailability in the Main site, multiple failures or planned maintenance.

The system is designed for redundancy and scalability. BCS/X system is based on CMA’s pioneering PIE technology and associated methodology, which focuses on achieving efficiency and scalability through concurrent computing and parallel processing. Distributed loosely-coupled architecture allows for efficient execution and distribution of software components or services for concurrent processing on multiple servers. This architecture minimizes bottlenecks and allows achieving new levels of throughput and performance.

Hardware, networks and system software included in the solution are planned with redundancy for the Main site – to provide resilient infrastructure for Customer. The System at the Backup site is identical to the Main site in all aspects except high availability and redundancy. CMA’s experience of implementing and supporting payments systems in similar environments proves that redundant configuration should not be provided for the Backup site: “backup for backup” is not cost-effective.

System at the Backup site allows failover in case of disaster, complete unavailability or multiple failures in the Main site.

BCS/X employs modern security technologies to ensure total security and provides reliable operation of the payment system. Security solution proposed by CMA complies with most current security standards in digital signatures, encryption and PKI to guarantee that the system will be secure in middle-term without additional investment in security.

CMA security engineers have properly addressed the application of security services (including authentication, access control, non-repudiation, integrity, confidentiality and audit) during design and implementation of the proposed system, adhering to the ISO 10181 standard.

CMA holds ISO 9001 certificate for its quality management system and ISO27001 (formerly BS7799) certificate for its information security management system. All software products delivered by CMA undergo thorough internal testing that assures high level of quality and reliability.

The System utilizes modern security infrastructure based on PKI, standard X.509 certificates and RSA digital signatures providing strong protection against unauthorized break-ins.

BCS/X network solution is designed for redundancy and scalability. There is no single point of failure within the primary system, while backup system at the alternate site protects from disasters and major failures, affecting the primary system as a whole. The system includes automatic failure recovery mechanisms and back-up facilities and procedures providing high level of service availability and mitigating risks. System supports “on the fly” updates of the database and components. To cater for disaster, the infrastructure is designed such that the business operation can be resumed with minimal data loss in case of disaster. In addition, it is designed in a way that switching over from Production Site to DR site and vice versa can be achieved within very short period of time.

BCS/X includes problem management procedures and tools: problem management can be implemented with change control procedures, thereby ensuring that all changes are logged and that all problems are closed.

The system is based on business-driven approach and modern technologies. It allows achieving a very good price/performance ratio in comparison with a typical numbers in similar projects. This is ensured by feedbacks of our Customers.

BCS/X is compliant with World Bank and BIS principles and recommendations regarding payment systems thus allowing the mitigation of all types of related risks. BCS/X significantly reduces or even totally avoids all types of risks related to payment systems (legal, operational, financial, security and systemic).
BCS/X development and implementation processes are compliant with the following major standards and certification programs:

  • BIS Core principles for systemically important payment systems (cpss34e), BIS General Guidance for payment system development (cpss69), New developments in large-value payment systems (cpss67), Delivery versus payment in securities settlement systems (cpss06), CPSS/IOSCO Recommendations for securities settlement systems, and other related papers (e.g. Bank of Finland Discussion paper “Large Value Payment systems – principles current and future developments”, 2004 etc.);

  • ISO/IEC 17799:2005 Information Security Management System standard;

  • ISO9001:2000 certification for “Provision of information technology consulting services”;

  • ISO9001:1994 certification for “Provision of customer support services”;

  • SWIFT Gold Ready Label 2004,2005, 2006;

  • SWIFTNet Ready Nostro Account Information Provider label 2006;

  • SWIFTReady Payments label.

Solution Benefits

  • Comprehensive monitoring and reporting tools allows system managers to follow up the settlement of payment orders and the overall activity of the system. Full statistical data are also produced;

  • Participants manage their own positions and transaction ledgers operations in real time by means of an inquiry system;

  • Real-time management of positions;

  • Real-time monitoring and reporting via web-based interface, STP and API.

  • Adjustable framework for charges calculations and different pricing policies (transaction rates, intra-day rates, volume/value rates etc.).

  • Real-time financial and technical monitoring facilities (positions, transactions, statistics, alerts/alarms, etc.).

  • Flexible business day schedule that may be followed automatically by the system or manually by system administrator;

  • Offline and online interaction with external financial systems including RTGS.

  • Incorporates “smart” middleware PIE that provide a powerful set of tools and components for integration;

  • Functionality of the systems covers all aspects of payment and securities operations processing, liquidity management facilities, multi-currency support (for future use), billing calculations, statistical analysis etc.;

  • The system is based on proven, high-reliable, state-of-art and efficient technologies that are successfully implemented and used in a number of projects throughout the world;

  • Multi-tier modular design provides high performance and scalability.

  • The solution can use VPN access and is fully SWIFTNet-Ready and supports full range of SWIFTNet services: InterAct, FileAct and Browse services;

Trusted by Many

  • Central Bank of Serbia
    Central Bank of Serbia
  • Central Bank of Montenegro
    Central Bank of Montenegro
  • Central Bank of Oman
    Central Bank of Oman
  • Central Bank of Moldova
    Central Bank of Moldova
  • Central Bank of Libya
    Central Bank of Libya
  • Central Bank of Mauritius
    Central Bank of Mauritius
  • Central Bank of Rwanda
    Central Bank of Rwanda
  • Central Bank of Laos
    Central Bank of Laos
  • National Bank of Kyrgyz Republic
    National Bank of Kyrgyz Republic
  • Central Bank of Dominican Republic
    Central Bank of Dominican Republic
  • Central Bank of Paraguay
    Central Bank of Paraguay
  • Central Bank of Bahrain
    Central Bank of Bahrain
  • Autoriti Monetari Brunei Darussalam
    Autoriti Monetari Brunei Darussalam
  • Central Bank of Cambodia
    Central Bank of Cambodia