Broadridge Financial Solutions has launched a scalable service for instant payments. It supports real-time money transfers, operating 24/7 and processing transactions in under 10 seconds from payer to beneficiary.
The Instant Payments service, which uses the Swift Alliance Gateway Instant (AGI), aligns with recent EU regulations mandating the facilitation of euro instant credit transfers.
These regulations are expected to accelerate the adoption of instant payments across Europe, with key compliance deadlines set for 2025.
Broadridge says its infrastructure supports these requirements in full, ensuring financial institutions are well-positioned to meet the new standards.
“We are thrilled to introduce our new Instant Payments service, which sets a new benchmark for resiliency and availability in the financial services industry,” says Heidi Dittmar, head of Broadridge’s Swift services business and country head for Germany.
“This innovative technology stack enables businesses and individuals to benefit from instant payments across a variety of use cases, from payroll to refunds, enhancing both operational efficiency and customer satisfaction.”
Instant payments are expected to become the industry standard, particularly for recurring transactions such as bill payments. The growing adoption of request for payments is anticipated to further drive this shift, making instant payments the preferred method for financial services.
While currently focused on the eurozone, which encompasses 20 countries, Broadridge’s Instant Payments service is positioned for global expansion as it adapts to evolving regulatory requirements and growing customer demand worldwide.
“We're committed to helping financial institutions stay ahead in an evolving regulatory landscape while delivering seamless, real-time payment experiences for their customers,” says Kai Marzenell, director of Swift product management at Broadridge. “Our Instant Payments service not only enables compliance with new EU regulations but also positions banks and payment service providers to capitalize on future innovations in the global payments ecosystem.”
