According to the press release, this initiative will allow the bank to build a modern payments architecture.
NOVO BANCO will use Enterprise Payments Platform, formerly Dovetail, for all payments processing and Advantage Fee, a billing and revenue management solution, for correspondent banking charging. The Fiserv technology will integrate with other systems within the bank, including anti-money laundering, fraud, risk, and core banking platforms, and externally with other NOVO BANCO entities.
Moreover, the Enterprise Payments Platform will enable centralised management of all NOVO BANCO payments, regardless of the origination channel, payment type, and entity. The bank will move all high-value payments including SWIFT, SWIFT gpi, and SIBS Target2 to the Enterprise Payments Platform, followed by low-value and instant payment types.
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