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FinTP-Instant is a new functionality of FinTP which connects back-office applications of a bank to an Instant Payments service offered by a third party, such as the Romanian ACH, TransFonD. This functionality retrieves payment messages in the format provided by these applications (database tables, message queues etc), converts them to the ISO 20022 standard and routes them to the Instant Payments System (IPS).
One of the requirements of the IPS is for the bank application to have STP capabilities (straight through processing). FinTP successfully meets this requirement, interfacing with the ACH through web services.
In order to fall within the appropriate processing timeframe defined for the instant payments service, the timestamp is created by FinTP.
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