BRED taps Worldline to launch instant payment platform

BRED has selected Worldline’s Cristal Instant Payments licenced software package to implement its instant payment platform.

BRED taps Worldline to launch instant payment platform

The new platform must offer real-time processing of transactions securely, complying with the standard established by the European Payments Council.

Cristal Instant Payments will process instant payments instructions procured via the bank’s digital channels till the point of exchange for final settlement.

It will be integrated within the BRED information system to post transactions to customers’ accounts in real time. The integration will also validate compliance with anti-fraud rules.

Worldline said that the working mechanism of the Cristal Instant Payments meets technical and business requirements of the bank.

BRED Banque Populaire innovation and market infrastructure projects head Remi Tanon said: “This project aims at strengthening our leadership position in cash management by offering our customers a modern, secure and instant payment method that will support the development of our innovative digital banking offerings.

“We chose the Worldline solution because of the relevance of its functional scope and of our successful experience using the Cristal platform.”

A cooperative bank with €3.7bn in equity, BRED has 165,000 members and employs around 5,500 staff.