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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)
Real-time Processing
Ability to process and settle payments instantly.
Yes - has this feature
Form3 is designed for real-time payments, explicitly supporting Faster Payments and instant/real-time schemes.
Batch Processing
Supports scheduled group processing of payments.
Yes - has this feature
Batch payments are supported for schemes like SEPA and Bacs.
Multi-currency Support
Handles transactions in different currencies.
Yes - has this feature
Supports multiple currencies through SWIFT and SEPA.
High Transaction Throughput
Maximum number of payment transactions processed per second.
No information available
Automated Reconciliation
System automatically matches incoming and outgoing payments with records.
Yes - has this feature
Automated reconciliation is a standard feature in Form3 payment flow documentation.
Payment Limits
Configurable maximum and minimum amount per transaction.
Yes - has this feature
Configurable payment limits are available for supported payment schemes.
Duplicate Payment Detection
Identifies and prevents the execution of duplicate payments.
Yes - has this feature
Duplicate payment detection is part of the anti-fraud and compliance feature set described.
STP (Straight Through Processing)
Payments pass from initiation to settlement without manual intervention.
Yes - has this feature
STP (Straight Through Processing) is a core value proposition for Form3.
Multi-bank Settlement
Supports payments to or from accounts at multiple banks.
Yes - has this feature
Multi-bank connectivity is a highlight given Form3's capability to orchestrate across multiple bank and payment scheme connections.
Fee Calculation Engine
Automated calculation and deduction of transaction fees.
Yes - has this feature
Fee calculation and handling is automated according to the documentation.
ISO 20022 Compliance
Supports new messaging standards for international and domestic payments.
Yes - has this feature
ISO 20022 is supported for SEPA and upcoming UK payment standards.
Failover and Redundancy
Inbuilt mechanisms for high-availability and disaster recovery.
Yes - has this feature
Form3 highlights high availability and redundancy as a feature of the multi-cloud architecture.
Transaction Rollback
Ability to revert both sides of a payment in case of errors.
Yes - has this feature
Transaction rollback and error management are described for exception handling.
Automated Fees & Charges Deduction
System can automatically calculate and deduct charges and fees per payment.
Yes - has this feature
Fees and charges are applied automatically per payment rules.
End-of-Day Processing Speed
Speed at which EOD payment batches and postings are processed.
No information available
Security and Compliance
(11 Yes /11 Known /15 Possible features)
Multi-factor Authentication
Requires multiple forms of verification for user/system access.
Yes - has this feature
Form3 supports multi-factor authentication at entry points, as described in cloud operations best practices.
Data Encryption
Encryption of payment data at rest and in transit.
Yes - has this feature
Data is fully encrypted in transit and at rest according to Form3 security whitepapers.
Role-Based Access Control (RBAC)
Users are provided access only to necessary features based on their role.
Yes - has this feature
RBAC is mentioned in access control documentation.
Audit Trail
Logs all user and system actions for compliance and review.
Yes - has this feature
Audit trail and traceability for all payment events are available through dashboards and reporting APIs.
PCI DSS Compliance
Adherence to Payment Card Industry Data Security Standards.
Yes - has this feature
PCI DSS compliance mentioned for card payment rails.
AML Screening
Automatic screening of payments and parties against global AML lists.
Yes - has this feature
Automatic AML and sanctions screening is explicitly mentioned in compliance offerings.
Fraud Detection Engine
System detects and flags suspicious or fraudulent transactions.
Yes - has this feature
Fraud detection engine and configurable fraud rules available, leveraging AI/ML.
Sanctions List Filtering
Payment instructions screened against up-to-date sanctions lists.
Yes - has this feature
Sanctions list filtering is part of regulatory and compliance feature set.
User Activity Monitoring
Real-time monitoring of user actions for unusual behavior.
Yes - has this feature
System provides real-time user activity monitoring via UI and API.
Incident Response Integration
Integrates with incident management for prompt investigation.
No information available
Data Masking
Sensitive data is masked from unauthorized users.
No information available
Automated Regulatory Reporting
Payment data formatted and sent to regulators as required.
Yes - has this feature
Automated regulatory reporting/tax submissions available via API.
Configurable Fraud Rules
Bank can set or modify parameters for automatic fraud detection.
Yes - has this feature
Banks can configure fraud rules within Form3.
Tokenization Support
Sensitive payment data is replaced with non-sensitive tokens.
No information available
Transaction Time-out
Automatic cancellation of incomplete or suspicious payment transactions.
No information available
Integration and Connectivity
(13 Yes /13 Known /15 Possible features)
API Availability
Developers can access payment functions via documented APIs.
Yes - has this feature
APIs for payment initiation, query, monitoring and management are fully documented (API-first).
Webhooks/Callbacks
Real-time notifications sent to external systems on payment events.
Yes - has this feature
Webhooks and callbacks for real-time notification are available.
Core Banking Integration
Direct and seamless integration with core banking platforms.
Yes - has this feature
Designed for direct integration with core banking systems.
Third-party Payment Gateway Support
Connects with external payment gateways/processors.
Yes - has this feature
Connects with major third-party payment gateways and processors as the core orchestration layer.
Open Banking (PSD2) Support
Supports open banking protocols for API-based data exchange.
Yes - has this feature
Form3 advertises support for open banking and PSD2 APIs.
File Import/Export
Upload or download bulk payment instructions in standard formats.
Yes - has this feature
Bulk payment import/export is available for high-volume financial institutions.
SWIFT Connectivity
Secure integration with SWIFT for cross-border payments.
Yes - has this feature
SWIFT messaging and connectivity are a core offering.
Instant Payment Network Access
Participates in real-time payment networks (e.g., RTP, Faster Payments).
Yes - has this feature
Connects to instant payment networks like Faster Payments (UK), RTP, SEPA Instant.
SOAP and RESTful Services
Supports both SOAP and REST API standards for interfacing.
Yes - has this feature
SOAP and REST APIs are documented in Form3 developer portal.
Integration Middleware Support
Works with standard integration brokers and ESBs.
Yes - has this feature
Middleware and integration brokers are supported as part of integration options.
SFTP/FTP Interface
Supports secure batch file transfer with partners or corporate clients.
Yes - has this feature
Secure file exchange (SFTP/FTP) interfaces are supported for bulk file processing.
Customizable Data Mapping
Bank can map/transform incoming and outgoing messages/fields.
Yes - has this feature
Data mapping and message transformation can be configured per integration.
Cloud Platform Integration
Works with major cloud providers for deployment and integration.
Yes - has this feature
Form3 can be deployed and integrated in major public clouds.
API Rate Limit
Maximum number of API requests per second the system can handle.
No information available
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)
Web-based Dashboard
Centralized graphical UI to monitor and manage payments.
Yes - has this feature
Graphical web-based dashboards for payment status and operations provided.
Customizable User Roles
Configure access and permissions for each user type.
Yes - has this feature
User roles and access permissions are configurable in line with RBAC.
Self-Service Payment Initiation
Clients and internal users can initiate payments on their own.
Yes - has this feature
End customers, partners, and banks can initiate payments via self-service interfaces or API.
Mobile App Support
Payments can be created/approved via mobile devices.
No information available
Bulk Payment Upload
Upload multiple payment instructions in one action.
Yes - has this feature
Bulk upload of payments is standard for large B2B and banking use cases.
Live Payment Tracker
Monitor statuses of payments in real-time.
Yes - has this feature
Live payment tracking and status monitoring are available via dashboard and APIs.
Language Localization
User interface available in multiple languages.
Yes - has this feature
Supports multiple languages for UI and notifications.
Accessibility Features
Complies with accessibility (e.g., WCAG) standards for users with disabilities.
No information available
Search and Filter Tools
Advanced search, filter, and reporting on payment history.
Yes - has this feature
Advanced search and filter tools provided through UI and REST APIs.
Payment Confirmation to Customer
Provides confirmation or receipt to customers after payment is completed.
Yes - has this feature
Payment confirmation and notification are part of core workflow.
Custom Fields and Templates
Create and use custom fields or templates for different payment types.
Yes - has this feature
Custom fields and templates available for payment initiation customization.
Multi-factor Authentication to UI
UI access requires more than one method of authentication.
Yes - has this feature
Supports multi-factor authentication for UI portals.
Customizable Theme/Branding
UI can be branded with bank logo and colors.
Yes - has this feature
The UI is customizable and can be white-labeled for institutions.
Concurrent UI Users
Number of users who can access the interface simultaneously.
No information available
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)
ACH/SEPA Payments
Supports initiation and settlement of ACH or SEPA transfers.
Yes - has this feature
Form3 supports ACH, SEPA, and related schemes.
Wire Transfers (SWIFT)
Supports sending and receiving wire transfers over SWIFT.
Yes - has this feature
Wire transfer via SWIFT connectivity is supported.
Instant/Real-Time Payments
Handles instant payment rails (e.g., RTP, Faster Payments).
Yes - has this feature
Supports UK Faster Payments, SEPA Instant and other real-time schemes.
Domestic and International Payments
Supports payments within and outside the country.
Yes - has this feature
Supports domestic (UK, EU) and international payments via SWIFT.
Card Payment Processing
Can process credit/debit card-based payments.
Yes - has this feature
Card payment rails are included under Form3's supported payment types.
Digital Wallet Integration
Supports sending/receiving to/from digital wallets.
Yes - has this feature
Digital wallet integration is available for select schemes and partners.
Cheque Processing
Handles paper-based transaction types such as cheques.
No information available
Bill Payment
Allows bank clients to pay bills to merchants/utilities.
Yes - has this feature
Bill payment rails are supported via API (direct debit, utility, etc.).
P2P Payments
Supports person-to-person/peer-to-peer payments.
Yes - has this feature
P2P payment support documented for partners building over the API.
Contactless Payments
Supports NFC or QR-based payment methods.
Yes - has this feature
API supports initiation of contactless and QR-based transactions via partner banks.
Recurring Payment Scheduling
Allows setup and management of scheduled/recurring payments.
Yes - has this feature
Recurring/scheduled payments available for ACH, SEPA, and standing order.
Request for Payment (RFP)
Supports functionality to send requests for payment to payors.
Yes - has this feature
Request for payment (RFP) via API is offered for relevant payment rails.
Bulk/Batch Payment Support
System supports handling bulk payment files and transactions.
Yes - has this feature
Bulk/batch payment features for corporate and wholesale banking are a core offering.
Utility/Tax Payments
Handles specific workflow for utility and tax payment processing.
Yes - has this feature
Utility/tax payment experiences are covered in documentation for partners using those rails.
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)
Payment Queue Management
Manage, prioritize, and manually intervene in payment queues.
Yes - has this feature
Operators can intervene and manage queued or pending payments.
Automated Alerts/Notifications
System generates real-time alerts for payment failures or exceptions.
Yes - has this feature
Automated alerts and failure notifications are configurable.
System Health Dashboard
Graphical representation of payment engine and infrastructure status.
Yes - has this feature
Operational dashboards show overall system/engine health.
Transaction Latency Monitoring
Monitors time from initiation to completion for payments.
Yes - has this feature
Built-in monitoring for latency and performance of payment flows.
Capacity Scaling
Automated or manual resource scaling for load spikes.
Yes - has this feature
Elastic architecture supports scale-up/scale-down as needed.
Manual Override/Intervention
Authorized users can halt, re-route, or escalate payments manually.
Yes - has this feature
Manual override and intervention by operators is enabled via dashboard.
Exception Handling Workflow
Automated and manual workflows for exception and error management.
Yes - has this feature
Automatic exception/errored payment workflow is described.
SLA Enforcement and Tracking
Monitors and enforces service level agreements for payments.
Yes - has this feature
SLA tracking is standard for regulated/critical payment rails.
Processing Uptime
Percentage of time the system is fully operational.
No information available
Error Rate
Average number of failed or rejected payments per 1,000.
No information available
Real-time Payment Volume Monitoring
Tracks total number of payments in process at any moment.
Yes - has this feature
Payment volume and processing state are tracked and exposed in real time.
Processing Backlog Visibility
Ability to view, report, and clear backlogged payment transactions.
Yes - has this feature
Operators can view processing backlog and clear transactions as needed.
Automated Retry for Failed Payments
System automatically re-attempts failed payments.
Yes - has this feature
Failed payments are automatically retried via platform workflow.
Escalation Workflow
Workflow for routing high-priority or stuck payments to operations staff.
Yes - has this feature
Escalation to human ops is configurable as part of exception management.
Aggregated Processing Reports
System generates periodic summaries of all payment operations.
No information available
.
Reporting and Analytics
(0 Yes /0 Known /15 Possible features)
Real-time Reporting
Instant reports on payment status, volume, and exceptions.
No information available
.
Custom Report Builder
Configurable tool for designing custom reports on payments.
No information available
.
Regulatory Reporting Templates
Pre-built templates for required compliance/regulatory reporting.
No information available
.
Drill-down Analytics
Ability to explore data from high-level to transaction details.
No information available
.
Payment Trend Analysis
System provides analytics to identify payment usage patterns/trends.
No information available
.
Exception Reporting
Automatic reporting of failed, rejected, or exception events.
No information available
.
Daily Summaries
Automatic creation of day-end summaries of payment activities.
No information available
.
Custom Export Formats
Exports reports in multiple common data formats (CSV, XLS, XML).
No information available
.
Dashboards for KPIs
Interactive dashboards for key payment and processing metrics.
No information available
.
Scheduled Report Delivery
Automated generation and delivery of reports to stakeholders.
No information available
.
Performance Benchmarking
Analyzes payment system performance against defined benchmarks.
No information available
.
Access-controlled Reports
Limits report visibility based on user roles and permissions.
No information available
.
Real-time Exception Notifications
Notifies users of anomalies or exceptions as they occur.
No information available
.
Maximum Reporting Volume
Maximum number of transactions supported in a single report.
No information available
.
Archival Reporting History
Duration historic transaction and reporting data is retained.
No information available
.
Customization and Configurability
(0 Yes /0 Known /15 Possible features)
Custom Workflow Configuration
Business users can define and change payment process workflow.
No information available
.
Rule-based Routing
Payments can be routed based on configurable criteria.
No information available
.
Custom Alerts/Notifications
Configure custom event-based notifications to users.
No information available
.
Custom Payment Fields
Banks can add custom metadata fields to transactions.
No information available
.
UI Customization
Change interface layout, colors, or branding.
No information available
.
Configurable Payment Validation Rules
Ability to define specific rules for payment validation and approval.
No information available
.
Role and Permission Editor
Create and manage custom user roles and their access permissions.
No information available
.
Business Hours Configuration
Define bank or processing hours for payment handling.
No information available
.
Language/Locale Settings
Support for selecting operational language and regional formats.
No information available
.
Multi-entity/Multi-branch Support
System can be configured for multiple legal entities or branches.
No information available
.
Customizable Logging Levels
Adjust the level of transaction and system logging.
No information available
.
Custom Batch Cut-off Times
Define when batch payment processing cut-off occurs.
No information available
.
Payment Template Management
Setup and manage templates for regularly used payment types.
No information available
.
UI Language Pack
Number of supported languages for UI customization.
No information available
.
Maximum Custom Rules
Maximum number of custom validation or routing rules.
No information available
.
Scalability and Performance
(0 Yes /0 Known /15 Possible features)
Horizontal Scaling Capability
System can scale by adding more servers/nodes.
No information available
.
Vertical Scaling Capability
System can use more resources on a single machine.
No information available
.
Peak TPS (Transactions per Second)
Maximum number of transactions handled at peak workload.
No information available
.
Maximum Concurrent Users
Total number of users who can operate simultaneously.
No information available
.
Automatic Load Balancing
Distributes payment processing across multiple systems for efficiency.
No information available
.
Disaster Recovery RTO
Recovery time objective after a disaster.
No information available
.
Disaster Recovery RPO
Maximum acceptable data loss (recovery point objective).
No information available
.
Geographic Failover Support
System can fail over between data centers in different locations.
No information available
.
Elastic Scaling
Automatic scaling up/down with changing workload.
No information available
.
Resource Utilization Monitoring
System monitors use of compute, memory, and storage resources.
No information available
.
Transaction Processing Latency
Average time to process an individual payment.
No information available
.
Maximum Payments per Day
The upper limit on daily payment volume supported.
No information available
.
Cold Start Time
Time taken for system to become operational from shutdown.
No information available
.
Scalable Data Storage
Underlying data storage can grow as transaction volumes increase.
No information available
.
High-availability (HA) Uptime SLA
Guaranteed uptime according to SLA.
No information available
.
Deployment, Maintenance and Support
(0 Yes /0 Known /15 Possible features)
Cloud Deployment Option
Can be deployed in a private or public cloud environment.
No information available
.
On-premise Deployment Option
Can be run within bank’s own data centers.
No information available
.
Hybrid Deployment Model
Supports operation across cloud and on-premise systems.
No information available
.
Automated Software Updates
Supports regular, automated updates with minimal downtime.
No information available
.
24/7 Vendor Support
Offers round-the-clock technical support.
No information available
.
Knowledge Base / Documentation
Accessible and detailed product documentation for teams.
No information available
.
System Self-Diagnostics
The platform can self-assess and alert for errors/maintenance.
No information available
.
Automated Backup and Restore
Enables scheduled backup and rapid restore of all critical data.
No information available
.
Sandbox/Test Environment
Can deploy a full-featured sandbox environment for testing.
No information available
.
Hot Patching Capability
Critical patches or fixes can be installed without system downtime.
No information available
.
Issue Tracking and Ticketing Integration
Integrates with issue/ticket management solutions.
No information available
.
Maintenance Window Configuration
Flexible scheduling of system maintenance with notifications.
No information available
.
Service Monitoring API
APIs for external monitoring solutions to check system status.
No information available
.
Automated Scaling Policies
Rules for automated resource allocation during maintenance or load spikes.
No information available
.
Maximum Patches per Year
Number of critical patches/upgrades required or supported annually.
No information available
.
Customer and Bank Relationship Management
(0 Yes /0 Known /15 Possible features)
Integrated Onboarding Workflows
Guided onboarding for new payment customers or partners.
No information available
.
KYC Integration
Integration with Know Your Customer processes and checks.
No information available
.
Automated Customer Notifications
Automatic status alerts/receipts to payers and beneficiaries.
No information available
.
Custom Payment Descriptions
Ability to provide custom messages or invoice references.
No information available
.
Beneficiary Management
Manage, validate, and store beneficiary account information.
No information available
.
White-labeling Support
System can be branded and customized for partners or clients.
No information available
.
Customer Support Integration
Integrates with ticketing or CRM systems for issue management.
No information available
.
Self-service Payment Status
Customers can check the real-time status of their payments online.
No information available
.
Automated Fee Disclosure
Discloses all fees to customers during payment initiation.
No information available
.
Customer Feedback Collection
System incorporates surveys or feedback channels on payment experience.
No information available
.
Bulk Beneficiary Upload
Enables upload and management of multiple beneficiaries at once.
No information available
.
Multilingual Customer Communication
Supports communication in multiple customer-preferred languages.
No information available
.
Customer Data Retention Policy
Configurable length of payment and relationship data retention.
No information available
.
Customer Payment Templates
Enables customers to create and use templates for frequent payments.
No information available
.
Limits per Customer Account
Customizable transaction or volume limits per account.
No information available
.
Innovation and Future-proofing
(0 Yes /0 Known /15 Possible features)
API-first Architecture
System design ensures all functions are exposed as APIs.
No information available
.
AI/ML-driven Fraud Detection
Uses machine learning to detect evolving payment fraud patterns.
No information available
.
Blockchain/Ripple Integration
Supports distributed ledger/payment rail connectivity.
No information available
.
Crypto Payment Support
Can initiate, receive, or settle cryptocurrencies.
No information available
.
Regulatory Sandbox Support
Can be used in regulatory test environments for payment innovation.
No information available
.
Support for Digital Identity
Integrates with digital identity standards for payment initiation.
No information available
.
Continuous Deployment Pipeline
DevOps pipeline for rapid delivery of new features.
No information available
.
Pluggable Payment Rails
System supports adding new payment networks/rails with minimal effort.
No information available
.
Open API Developer Portal
Portal for third parties and fintechs to build on payment APIs.
No information available
.
Sandbox Transaction Capacity
Number of test transactions supported in sandbox.
No information available
.
Third-party App Ecosystem
Supports plug-in third-party or marketplace applications.
No information available
.
Smart Contract Support
Can trigger payments or settlements by smart contract.
No information available
.
Support for IoT Payments
Handles payments initiated by IoT-connected devices.
No information available
.
API Versioning Control
Supports releasing and maintaining multiple API versions.
No information available
.
Innovation Roadmap Release Frequency
Planned new feature releases per year.
No information available
.
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