Tereon – Real Time Pay­ments with More Func­tion­al­ity for Less Money

Kalypton is pleased to have par­ti­cip­ated in the Faster Pay­ments Task Force. From our per­spect­ive, the Task Force made good on their inten­tion to ensure that par­ti­cip­a­tion was a pos­it­ive pro­cess for all proposers.

The FPTF assess­ment of our Tereon soft­ware was broadly accur­ate bear­ing in mind that:

  • The pro­cess did not allow us to share the con­tent of our 8 step change pat­ent applic­a­tions com­pris­ing 196 claims
  • And we pro­posed a pro­cess by which fair and equit­able scheme rules would be cre­ated when the assessors pre­ferred rules already to be estab­lished regard­less of whether they had broad par­ti­cip­a­tion or not

Tereon is simply the most func­tion­ally rich and best value RTP tech­no­logy avail­able. With the right gov­ernance model, it will deliver in full the Task Force object­ives to all stakeholders.

More Func­tion­al­ity

To date, most dis­cus­sions about build­ing a “faster pay­ments” sys­tem have focused primar­ily on speed and “plumb­ing.” Even more import­ant, how­ever, are the innov­at­ive products and ser­vices that an enhanced infra­struc­ture will allow fin­an­cial insti­tu­tions to bring to mar­ket. These new products and services—in both con­sumer and cor­por­ate payments—can cre­ate new rev­enue streams and help banks and other play­ers real­ize a return on their invest­ment in a mod­ern­ized pay­ments sys­tem.” Faster pay­ments: Build­ing a busi­ness, not just an infra­struc­ture; McKin­sey on Pay­ments Volume 8, Num­ber 21

Quite simply Tereon delivers:

  • Real time set­tle­ment without a require­ment for pre-funding
  • Inter­op­er­ab­il­ity within and between schemes using any data format and imple­ment­ing any rules
  • Real time rails that con­nect banks and non-bank ser­vice providers
  • Dis­trib­uted trust in private ledgers bring­ing the bene­fits of block­chain without the per­form­ance con­straints or need for new regulations
  • 31 use cases out of the box plus a RAD/RP tool­set to develop new ser­vices ensur­ing that an invest­ment in Tereon is future proofed

Much Less Upfront Investment

Highly scal­able, secure and resi­li­ent cloud-native architecture

  • Exist­ing com­mu­nic­a­tions infrastructure
  • Full range of APIs for integrations
  • No PCi DSS requirement
  • Uses com­mod­ity end-point devices and cre­den­tials securely

And Reduces Back-Office Costs

  • Handles all data formats
  • Real-time records for real-time analysis
  • Improved secur­ity model redu­cing risk and com­pli­ance workload
  • Much reduced recon­cili­ation effort
  • Enables ser­vice innovation

Next Steps in the USA

At the time of writ­ing we know that there are two real-time schemes in place. We look for­ward to the industry response and, in par­tic­u­lar, the Fed­eral Reserve Banks’ response to the Task Force report.

Is there a require­ment for a third scheme?

  • to sat­isfy the needs of all stakeholders ?
  • includ­ing the large banks who will get more func­tion­al­ity and tools to reduce back-office costs?
  • across a wide array of use cases?
  • and with an inclus­ive gov­ernance model ?

Will that require­ment be met ?

  • by the Fed ?
  • by the private sector ?
  • not at all ?

Let us know what you think

And in the Rest of the World……

An early ver­sion of Tereon was built for, and proven in deploy­ment, with min­imal infra­struc­ture in Africa. The Kalypton pro­pos­i­tion is quite simple. Much more func­tion­al­ity, meet­ing exist­ing reg­u­lat­ory require­ments any­where, for less money.

A mod­est and future­proofed invest­ment is all it takes

Real-time pay­ments for all !

Get in touch to bring RTP to your envir­on­ment now.