Fast Track Real-Time Payments Innovation with Oracle and The Clearing House

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With over 40+ economies in the world shifting to real-time payments schemes over the last decade, the market demand for immediate access to funds is undoubtedly at its peak.

The TCH RTP® not only provisions for real-time transfers and requests for funds but also fills the gaping hole of real-time information through an extensive set of messages. By limiting transactions to credit push alone, it mitigates the risk of unauthorized debits and the cost of follow-up investigations. Most importantly, it creates the foundation of trust for consumers to adopt seamless digital transactions and for fintechs to create evolved use cases around this window of opportunity.

Fostering Market Led Innovation for B2B Payments

The Clearing House’ RTP® bases itself on an evolved framework of use cases that cater not just to the consumer needs of P2P or B2C payments but focuses equally on challenging use cases around the 23.1 trillion $ B2B payments space. Increasingly, domestic businesses are evaluating the RTP® scheme for most of their settlement needs because of significantly lowered costs of 'invoice to payment reconciliations' and 'receipt re-associations' that promise better cash flow visibility.

However, is putting in place a real-time payments infrastructure enough to solve the need for businesses today?

Real-time Ready but not Real-time Digital Yet

With over 57% of U.S businesses at some point in their individual digital-transformation journeys, the demand for real-time and digital payments is only partially met by the RTP® which provides the foundational network infrastructure native APIs to the ecosystem. Not without thought and as a deliberated upon decision, this whitespace is left to be addressed for technology providers to co-create.

Oracle Banking APIs combined with Oracle Banking Payments, unlocks the brute power of this 24x7x365 RTP® infrastructure to create evolved customer journeys across retail and corporate banking.  Leveraging the TCH RTP® ready APIs, banks and fintechs can design simplified user journeys that power not just digital payments but can combine and leverage the 1500 APIs from its stable, to create visibility into cash flows, simplify trade payments, expedite settlements and fortify credit and lending disbursements.

These APIs are powered by the Oracle Banking Payments RTP processor, the Universal Payments Hub that processes RTP, ACH, Wires and cross border payments via SWIFT and SWIFT gpi on a single platform. Designed to integrate with complex payment ecosystems, aggregate payments data from across systems and deliver accelerated straight through processing with seamless connectivity to the payments networks, Oracle Banking Payments is now TCH RTP® ready.

Collaborate, Innovate and Evolve

We invite you to come and experience these products that are designed for collaborative innovation between banks and fintechs. While Oracle’s rich digital APIs helps transform the customer’s payment experience across retail and commercial banking by providing channel agnostic services, data-rich insights and real-time tracking of payables, the underlying payments hub helps businesses scale as they grow, making it a true community platform for innovation.

* Carolina Fintech Hub in collaboration with The Clearing House and Oracle is presenting a ‘Real Time Payments Buildathon'. Register for the event to experience the innovation potential of Oracle’s solutions!

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