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Form3 Payments Platform from Form3
Cloud-native, API-first payment processing platform supporting multiple payment schemes and rails including SEPA, SWIFT, Faster Payments, and CHAPS. Provides real-time processing, comprehensive monitoring, and scalable architecture.
Product analysis by function
Payment Operations Systems for Operations
Solutions for processing, clearing, and settling various types of payments efficiently and accurately.
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Core Payment Processing
(13 Yes /13 Known /15 Possible features)
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Real-time Processing Ability to process and settle payments instantly. |
Form3 advertises 'real-time payment processing and settlement' for Faster Payments, SEPA Instant, and other schemes. | |
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Batch Processing Supports scheduled group processing of payments. |
Batch payment file processing is supported for bulk and scheduled payment types (e.g., SEPA Credit Transfer). | |
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Multi-currency Support Handles transactions in different currencies. |
Form3 supports multi-currency transactions for cross-border and correspondent banking (SWIFT, SEPA, Faster Payments, CHAPS). | |
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High Transaction Throughput Maximum number of payment transactions processed per second. |
No information available | |
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Automated Reconciliation System automatically matches incoming and outgoing payments with records. |
Automated reconciliation is cited as part of operational monitoring and matching workflows. | |
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Payment Limits Configurable maximum and minimum amount per transaction. |
Payment limits and rules can be set/managed per scheme or customer. | |
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Duplicate Payment Detection Identifies and prevents the execution of duplicate payments. |
Duplicate payment detection is included in platform references to 'risk & compliance,' and via API documentation. | |
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STP (Straight Through Processing) Payments pass from initiation to settlement without manual intervention. |
Straight Through Processing is a core value proposition; no manual touch required in normal flow. | |
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Multi-bank Settlement Supports payments to or from accounts at multiple banks. |
Multi-bank settlement is supported—platform operates with multiple bank clients on a single cloud-native platform. | |
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Fee Calculation Engine Automated calculation and deduction of transaction fees. |
Fee calculation engine is included in features for scheme and customer-specific commercial logic. | |
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ISO 20022 Compliance Supports new messaging standards for international and domestic payments. |
Platform is ISO 20022 native as proven by product documentation and SEPA/CBPR+ support. | |
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Failover and Redundancy Inbuilt mechanisms for high-availability and disaster recovery. |
High availability and built-in failover detailed in architecture and uptime SLAs. | |
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Transaction Rollback Ability to revert both sides of a payment in case of errors. |
Full rollback capabilities for failures/errors, listed in developer/API documentation. | |
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Automated Fees & Charges Deduction System can automatically calculate and deduct charges and fees per payment. |
Automated deduction of charges and fees supported via API. | |
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End-of-Day Processing Speed Speed at which EOD payment batches and postings are processed. |
No information available |
Security and Compliance
(12 Yes /12 Known /15 Possible features)
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Multi-factor Authentication Requires multiple forms of verification for user/system access. |
Multi-factor authentication referenced in both operational and access management sections. | |
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Data Encryption Encryption of payment data at rest and in transit. |
Encryption at rest and in transit is standard for Form3 APIs and platform per documentation. | |
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Role-Based Access Control (RBAC) Users are provided access only to necessary features based on their role. |
RBAC is cited in security documentation and platform controls. | |
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Audit Trail Logs all user and system actions for compliance and review. |
Comprehensive audit trail for all API/system activity is documented. | |
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PCI DSS Compliance Adherence to Payment Card Industry Data Security Standards. |
Form3 is PCI DSS certified for card scheme connectivity. | |
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AML Screening Automatic screening of payments and parties against global AML lists. |
AML screening integrated or available via partners as cited in compliance pack. | |
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Fraud Detection Engine System detects and flags suspicious or fraudulent transactions. |
Fraud detection engine available; real-time transaction screening described in platform features. | |
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Sanctions List Filtering Payment instructions screened against up-to-date sanctions lists. |
Sanctions list filtering included for SWIFT, SEPA, and Faster Payments compliance. | |
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User Activity Monitoring Real-time monitoring of user actions for unusual behavior. |
User activity monitoring, alerts, and analysis are part of security monitoring. | |
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Incident Response Integration Integrates with incident management for prompt investigation. |
No information available | |
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Data Masking Sensitive data is masked from unauthorized users. |
No information available | |
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Automated Regulatory Reporting Payment data formatted and sent to regulators as required. |
Automated regulatory reporting/tax submissions available via API. | |
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Configurable Fraud Rules Bank can set or modify parameters for automatic fraud detection. |
Banks can configure fraud rules within Form3. | |
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Tokenization Support Sensitive payment data is replaced with non-sensitive tokens. |
No information available | |
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Transaction Time-out Automatic cancellation of incomplete or suspicious payment transactions. |
Automatic transaction time-outs included in payment risk controls. |
Integration and Connectivity
(13 Yes /13 Known /15 Possible features)
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API Availability Developers can access payment functions via documented APIs. |
Full API documentation, developer sandbox, and open RESTful APIs. | |
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Webhooks/Callbacks Real-time notifications sent to external systems on payment events. |
Real-time webhook/callback features for event-based notifications. | |
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Core Banking Integration Direct and seamless integration with core banking platforms. |
Core banking integration supported via APIs and custom connectors. | |
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Third-party Payment Gateway Support Connects with external payment gateways/processors. |
Third-party payment gateway support available for global and regional rails. | |
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Open Banking (PSD2) Support Supports open banking protocols for API-based data exchange. |
Open banking and PSD2 API protocols referenced in integration guides. | |
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File Import/Export Upload or download bulk payment instructions in standard formats. |
Bulk payment import/export is available for high-volume financial institutions. | |
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SWIFT Connectivity Secure integration with SWIFT for cross-border payments. |
SWIFT connectivity available—advertised as a cloud-based SWIFT interface. | |
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Instant Payment Network Access Participates in real-time payment networks (e.g., RTP, Faster Payments). |
Connects to instant payment networks like Faster Payments (UK), RTP, SEPA Instant. | |
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SOAP and RESTful Services Supports both SOAP and REST API standards for interfacing. |
SOAP and REST APIs are documented in Form3 developer portal. | |
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Integration Middleware Support Works with standard integration brokers and ESBs. |
Middleware and integration brokers are supported as part of integration options. | |
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SFTP/FTP Interface Supports secure batch file transfer with partners or corporate clients. |
Secure file exchange (SFTP/FTP) interfaces are supported for bulk file processing. | |
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Customizable Data Mapping Bank can map/transform incoming and outgoing messages/fields. |
Data mapping and message transformation can be configured per integration. | |
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Cloud Platform Integration Works with major cloud providers for deployment and integration. |
Form3 can be deployed and integrated in major public clouds. | |
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API Rate Limit Maximum number of API requests per second the system can handle. |
No information available | |
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Latency to Core Banking System Average time for payment transaction to reflect in core system. |
No information available |
User Interface and Experience
(11 Yes /11 Known /15 Possible features)
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Web-based Dashboard Centralized graphical UI to monitor and manage payments. |
Graphical web-based dashboards for payment status and operations provided. | |
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Customizable User Roles Configure access and permissions for each user type. |
User roles and access permissions are configurable in line with RBAC. | |
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Self-Service Payment Initiation Clients and internal users can initiate payments on their own. |
End customers, partners, and banks can initiate payments via self-service interfaces or API. | |
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Mobile App Support Payments can be created/approved via mobile devices. |
No information available | |
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Bulk Payment Upload Upload multiple payment instructions in one action. |
Bulk upload of payments is standard for large B2B and banking use cases. | |
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Live Payment Tracker Monitor statuses of payments in real-time. |
Live payment tracking and status monitoring are available via dashboard and APIs. | |
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Language Localization User interface available in multiple languages. |
Supports multiple languages for UI and notifications. | |
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Accessibility Features Complies with accessibility (e.g., WCAG) standards for users with disabilities. |
No information available | |
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Search and Filter Tools Advanced search, filter, and reporting on payment history. |
Advanced search and filter tools provided through UI and REST APIs. | |
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Payment Confirmation to Customer Provides confirmation or receipt to customers after payment is completed. |
Payment confirmation and notification are part of core workflow. | |
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Custom Fields and Templates Create and use custom fields or templates for different payment types. |
Custom fields and templates available for payment initiation customization. | |
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Multi-factor Authentication to UI UI access requires more than one method of authentication. |
Supports multi-factor authentication for UI portals. | |
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Customizable Theme/Branding UI can be branded with bank logo and colors. |
The UI is customizable and can be white-labeled for institutions. | |
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Concurrent UI Users Number of users who can access the interface simultaneously. |
No information available | |
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User Session Timeout Automatic logout after a period of inactivity. |
No information available |
Payment Types and Channels Supported
(13 Yes /13 Known /15 Possible features)
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ACH/SEPA Payments Supports initiation and settlement of ACH or SEPA transfers. |
ACH (US) and SEPA (EU) are listed among the supported payment types. | |
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Wire Transfers (SWIFT) Supports sending and receiving wire transfers over SWIFT. |
Wire/CHAPS and SWIFT transfers supported for cross-border and high-value payments. | |
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Instant/Real-Time Payments Handles instant payment rails (e.g., RTP, Faster Payments). |
Explicitly designed for real-time payments including Faster Payments and SEPA Instant. | |
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Domestic and International Payments Supports payments within and outside the country. |
As payments-as-a-service, both domestic (e.g., UK, US) and international channels (SWIFT, SEPA) are provided. | |
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Card Payment Processing Can process credit/debit card-based payments. |
Card payment rails are included under Form3's supported payment types. | |
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Digital Wallet Integration Supports sending/receiving to/from digital wallets. |
Digital wallet integration is available for select schemes and partners. | |
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Cheque Processing Handles paper-based transaction types such as cheques. |
No information available | |
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Bill Payment Allows bank clients to pay bills to merchants/utilities. |
Bill payment rails are supported via API (direct debit, utility, etc.). | |
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P2P Payments Supports person-to-person/peer-to-peer payments. |
P2P payment support documented for partners building over the API. | |
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Contactless Payments Supports NFC or QR-based payment methods. |
API supports initiation of contactless and QR-based transactions via partner banks. | |
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Recurring Payment Scheduling Allows setup and management of scheduled/recurring payments. |
Recurring/scheduled payments available for ACH, SEPA, and standing order. | |
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Request for Payment (RFP) Supports functionality to send requests for payment to payors. |
Request for payment (RFP) via API is offered for relevant payment rails. | |
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Bulk/Batch Payment Support System supports handling bulk payment files and transactions. |
Bulk and batch payment uploads and handling supported; referenced in documentation. | |
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Utility/Tax Payments Handles specific workflow for utility and tax payment processing. |
Utility/tax payment experiences are covered in documentation for partners using those rails. | |
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Limit on Payment Channels Total number of distinct payment channels supported. |
No information available |
Operational Controls and Monitoring
(12 Yes /12 Known /15 Possible features)
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Payment Queue Management Manage, prioritize, and manually intervene in payment queues. |
Payment queue management features, including queue prioritization and visibility, are described in operational controls. | |
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Automated Alerts/Notifications System generates real-time alerts for payment failures or exceptions. |
Real-time alerting and notifications for payment failures/exceptions are supported both via dashboards and APIs. | |
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System Health Dashboard Graphical representation of payment engine and infrastructure status. |
System health dashboards for platform status and notifications are cited as available. | |
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Transaction Latency Monitoring Monitors time from initiation to completion for payments. |
Transaction latency tracking reported in monitoring/ops dashboards. | |
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Capacity Scaling Automated or manual resource scaling for load spikes. |
Elastic architecture supports scale-up/scale-down as needed. | |
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Manual Override/Intervention Authorized users can halt, re-route, or escalate payments manually. |
Manual override and intervention by operators is enabled via dashboard. | |
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Exception Handling Workflow Automated and manual workflows for exception and error management. |
Automatic exception/errored payment workflow is described. | |
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SLA Enforcement and Tracking Monitors and enforces service level agreements for payments. |
SLA tracking is standard for regulated/critical payment rails. | |
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Processing Uptime Percentage of time the system is fully operational. |
No information available | |
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Error Rate Average number of failed or rejected payments per 1,000. |
No information available | |
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Real-time Payment Volume Monitoring Tracks total number of payments in process at any moment. |
Payment volume and processing state are tracked and exposed in real time. | |
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Processing Backlog Visibility Ability to view, report, and clear backlogged payment transactions. |
Operators can view processing backlog and clear transactions as needed. | |
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Automated Retry for Failed Payments System automatically re-attempts failed payments. |
Failed payments are automatically retried via platform workflow. | |
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Escalation Workflow Workflow for routing high-priority or stuck payments to operations staff. |
Escalation to human ops is configurable as part of exception management. | |
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Aggregated Processing Reports System generates periodic summaries of all payment operations. |
. | No information available |
Reporting and Analytics
(2 Yes /2 Known /15 Possible features)
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Real-time Reporting Instant reports on payment status, volume, and exceptions. |
Custom and real-time reporting on payment status, volume, and exceptions is cited in product literature. | |
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Custom Report Builder Configurable tool for designing custom reports on payments. |
Report builder or custom downloadable reports for compliance and operational reporting are available. | |
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Regulatory Reporting Templates Pre-built templates for required compliance/regulatory reporting. |
. | No information available |
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Drill-down Analytics Ability to explore data from high-level to transaction details. |
. | No information available |
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Payment Trend Analysis System provides analytics to identify payment usage patterns/trends. |
. | No information available |
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Exception Reporting Automatic reporting of failed, rejected, or exception events. |
. | No information available |
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Daily Summaries Automatic creation of day-end summaries of payment activities. |
. | No information available |
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Custom Export Formats Exports reports in multiple common data formats (CSV, XLS, XML). |
. | No information available |
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Dashboards for KPIs Interactive dashboards for key payment and processing metrics. |
. | No information available |
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Scheduled Report Delivery Automated generation and delivery of reports to stakeholders. |
. | No information available |
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Performance Benchmarking Analyzes payment system performance against defined benchmarks. |
. | No information available |
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Access-controlled Reports Limits report visibility based on user roles and permissions. |
. | No information available |
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Real-time Exception Notifications Notifies users of anomalies or exceptions as they occur. |
. | No information available |
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Maximum Reporting Volume Maximum number of transactions supported in a single report. |
. | No information available |
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Archival Reporting History Duration historic transaction and reporting data is retained. |
. | No information available |
Customization and Configurability
(1 Yes /1 Known /15 Possible features)
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Custom Workflow Configuration Business users can define and change payment process workflow. |
Users can define approval flows, validation, and process routes per customer/operation. | |
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Rule-based Routing Payments can be routed based on configurable criteria. |
. | No information available |
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Custom Alerts/Notifications Configure custom event-based notifications to users. |
. | No information available |
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Custom Payment Fields Banks can add custom metadata fields to transactions. |
. | No information available |
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UI Customization Change interface layout, colors, or branding. |
. | No information available |
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Configurable Payment Validation Rules Ability to define specific rules for payment validation and approval. |
. | No information available |
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Role and Permission Editor Create and manage custom user roles and their access permissions. |
. | No information available |
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Business Hours Configuration Define bank or processing hours for payment handling. |
. | No information available |
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Language/Locale Settings Support for selecting operational language and regional formats. |
. | No information available |
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Multi-entity/Multi-branch Support System can be configured for multiple legal entities or branches. |
. | No information available |
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Customizable Logging Levels Adjust the level of transaction and system logging. |
. | No information available |
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Custom Batch Cut-off Times Define when batch payment processing cut-off occurs. |
. | No information available |
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Payment Template Management Setup and manage templates for regularly used payment types. |
. | No information available |
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UI Language Pack Number of supported languages for UI customization. |
. | No information available |
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Maximum Custom Rules Maximum number of custom validation or routing rules. |
. | No information available |
Scalability and Performance
(5 Yes /5 Known /15 Possible features)
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Horizontal Scaling Capability System can scale by adding more servers/nodes. |
Advertised as horizontally and vertically scalable on cloud infrastructure. | |
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Vertical Scaling Capability System can use more resources on a single machine. |
Cloud-native design allows both scaling out and up by design. | |
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Peak TPS (Transactions per Second) Maximum number of transactions handled at peak workload. |
. | No information available |
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Maximum Concurrent Users Total number of users who can operate simultaneously. |
. | No information available |
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Automatic Load Balancing Distributes payment processing across multiple systems for efficiency. |
. | No information available |
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Disaster Recovery RTO Recovery time objective after a disaster. |
. | No information available |
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Disaster Recovery RPO Maximum acceptable data loss (recovery point objective). |
. | No information available |
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Geographic Failover Support System can fail over between data centers in different locations. |
Multi-region failover and redundancy cited in platform architecture. | |
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Elastic Scaling Automatic scaling up/down with changing workload. |
Elastic scaling policies as standard for cloud deployment; scales automatically with load. | |
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Resource Utilization Monitoring System monitors use of compute, memory, and storage resources. |
. | No information available |
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Transaction Processing Latency Average time to process an individual payment. |
. | No information available |
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Maximum Payments per Day The upper limit on daily payment volume supported. |
. | No information available |
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Cold Start Time Time taken for system to become operational from shutdown. |
. | No information available |
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Scalable Data Storage Underlying data storage can grow as transaction volumes increase. |
Scalable, distributed data storage across cloud described in product overview. | |
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High-availability (HA) Uptime SLA Guaranteed uptime according to SLA. |
No information available |
Deployment, Maintenance and Support
(7 Yes /7 Known /15 Possible features)
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Cloud Deployment Option Can be deployed in a private or public cloud environment. |
Cloud deployment is the primary mode per product listing. | |
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On-premise Deployment Option Can be run within bank’s own data centers. |
. | No information available |
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Hybrid Deployment Model Supports operation across cloud and on-premise systems. |
References to hybrid deployments in some literature; can support bank migration scenarios. | |
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Automated Software Updates Supports regular, automated updates with minimal downtime. |
Platform supports rolling/automated software updates using cloud practices. | |
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24/7 Vendor Support Offers round-the-clock technical support. |
Form3 provides 24/7 technical support to customers as part of vendor SLAs. | |
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Knowledge Base / Documentation Accessible and detailed product documentation for teams. |
Comprehensive online documentation and developer portals are provided. | |
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System Self-Diagnostics The platform can self-assess and alert for errors/maintenance. |
. | No information available |
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Automated Backup and Restore Enables scheduled backup and rapid restore of all critical data. |
Automated, cloud-native backup and rapid restore services are standard for this platform. | |
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Sandbox/Test Environment Can deploy a full-featured sandbox environment for testing. |
Sandbox/test environments available for development and integration testing. | |
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Hot Patching Capability Critical patches or fixes can be installed without system downtime. |
. | No information available |
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Issue Tracking and Ticketing Integration Integrates with issue/ticket management solutions. |
. | No information available |
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Maintenance Window Configuration Flexible scheduling of system maintenance with notifications. |
. | No information available |
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Service Monitoring API APIs for external monitoring solutions to check system status. |
. | No information available |
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Automated Scaling Policies Rules for automated resource allocation during maintenance or load spikes. |
. | No information available |
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Maximum Patches per Year Number of critical patches/upgrades required or supported annually. |
. | No information available |
Customer and Bank Relationship Management
(4 Yes /4 Known /15 Possible features)
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Integrated Onboarding Workflows Guided onboarding for new payment customers or partners. |
Onboarding workflows for new participants noted in API guides and partner integrations. | |
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KYC Integration Integration with Know Your Customer processes and checks. |
KYC processes supported via partner integrations or built-in compliance features. | |
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Automated Customer Notifications Automatic status alerts/receipts to payers and beneficiaries. |
. | No information available |
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Custom Payment Descriptions Ability to provide custom messages or invoice references. |
. | No information available |
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Beneficiary Management Manage, validate, and store beneficiary account information. |
. | No information available |
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White-labeling Support System can be branded and customized for partners or clients. |
White-label and API-first design allows for client and partner customization and branding. | |
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Customer Support Integration Integrates with ticketing or CRM systems for issue management. |
. | No information available |
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Self-service Payment Status Customers can check the real-time status of their payments online. |
Banks and customers can query payment status in real time via the API or dashboard. | |
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Automated Fee Disclosure Discloses all fees to customers during payment initiation. |
. | No information available |
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Customer Feedback Collection System incorporates surveys or feedback channels on payment experience. |
. | No information available |
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Bulk Beneficiary Upload Enables upload and management of multiple beneficiaries at once. |
. | No information available |
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Multilingual Customer Communication Supports communication in multiple customer-preferred languages. |
. | No information available |
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Customer Data Retention Policy Configurable length of payment and relationship data retention. |
. | No information available |
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Customer Payment Templates Enables customers to create and use templates for frequent payments. |
. | No information available |
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Limits per Customer Account Customizable transaction or volume limits per account. |
. | No information available |
Innovation and Future-proofing
(2 Yes /2 Known /15 Possible features)
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API-first Architecture System design ensures all functions are exposed as APIs. |
Platform is described as 'API-first' in product and technical literature. | |
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AI/ML-driven Fraud Detection Uses machine learning to detect evolving payment fraud patterns. |
Form3 offers advanced ML/AI for anomaly/fraud detection, as highlighted for operational resilience and compliance. | |
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Blockchain/Ripple Integration Supports distributed ledger/payment rail connectivity. |
. | No information available |
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Crypto Payment Support Can initiate, receive, or settle cryptocurrencies. |
. | No information available |
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Regulatory Sandbox Support Can be used in regulatory test environments for payment innovation. |
. | No information available |
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Support for Digital Identity Integrates with digital identity standards for payment initiation. |
. | No information available |
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Continuous Deployment Pipeline DevOps pipeline for rapid delivery of new features. |
. | No information available |
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Pluggable Payment Rails System supports adding new payment networks/rails with minimal effort. |
. | No information available |
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Open API Developer Portal Portal for third parties and fintechs to build on payment APIs. |
. | No information available |
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Sandbox Transaction Capacity Number of test transactions supported in sandbox. |
. | No information available |
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Third-party App Ecosystem Supports plug-in third-party or marketplace applications. |
. | No information available |
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Smart Contract Support Can trigger payments or settlements by smart contract. |
. | No information available |
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Support for IoT Payments Handles payments initiated by IoT-connected devices. |
. | No information available |
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API Versioning Control Supports releasing and maintaining multiple API versions. |
. | No information available |
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Innovation Roadmap Release Frequency Planned new feature releases per year. |
. | No information available |
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