Borica revolutionizes Bulgarian banks with a new instant payment system!

Borica revolutionizes Bulgarian banks with a new instant payment system!

In an important step for Bulgarian banking, Borica, the national payment service provider, successfully put a TIPS connectivity module, developed by Montran. This advanced solution enables Bulgarian banks to access the immediate payment service tips of the European Central Bank associated with the national bisera system. Thanks to this implementation, banks can expand the existing local immediate payment service Blink and now also handle Euro payments for local and sepa transactions, such as ots.at reported .

The solution from Montran offers a total of two prefunding modules, one especially for tips that supports international solvency, as well as another for national transfers within the euro Inst-System. This enables banks to efficiently control their liquidity positions via uniform interfaces. "With the solution of Montran, we can now offer our member banks efficient access to tips for immediate payments," said Vania Ganeva, head of payment services at Borica. The modules enable banks to optimize their liquidity in both systems, which ensures operational efficiency and compliance with European standards, as well as borica.bg noted .

technological innovations and their importance

In addition, the solution includes progressive monitoring and control of liquidity, which integrates a seamless interface to tips, T2 and step2 via Swift. The successful introduction of this TIPS connectivity module represents significant progress, since it adapts the Bulgarian payment infrastructure to the latest European standards for immediate payment and improves cross-border interoperability. After strict tests, the module is now ready for operational use, which significantly increases the efficiency of the payment methods in Bulgaria.