Hosting in the cloud provides an extra layer of simplicity and cost savings to our customers, who include some of the largest banks, processors and retailers in the world.
Sausalito, California (PRWEB) April 12, 2016
The UK Faster Payments Scheme announced on the 29th March 2016, the formal accreditation of the first two FinTechs, PayPort by VocaLink and FIS, using a cloud-hosted technical accreditation service from Ascert. The service went "live" on February 15, 2016 and these two companies have utilized it to gain an accreditation "trust mark" for their FPS Gateway solutions as technical aggregators. Four more FinTech companies are in process and expected to gain accreditation in the coming months.
The accreditation service is provided and administered by Ascert’s UK subsidiary, Ascert Ltd., on behalf of the Faster Payments Scheme. It is hosted on Ascert’s cloud-based platform, Ascertified.com, which allows aggregators to complete the 300+ end-to-end accreditation tests in less than 20 minutes. This enables FinTechs who offer gateway solutions or third party hosted aggregator services, to provide rapid verification that their products meet the Scheme’s technical requirements.
The Faster Payments access program is creating an entirely new way to access the Scheme, which will extend the reach of true real-time payments to millions more consumers and businesses. Mike Wainwright, Business Development Director for Ascert in the UK, said “Ascert has a proven track record of providing simulation tools to both the Faster Payments Scheme operator and a number of existing direct participants. The development and implementation of the cloud hosted technical accreditation service will enable FinTechs to test their products at will and ensure that their product versions continue to be Scheme accredited.”
Ascert have been providing specialist testing and certification tools to the payments industry for over twenty years. This particular service, while new to FPS, is actually an evolution of other testing and certification projects created in response to multiple customer and industry initiatives. Such initiatives include the original FPS rollout in the UK, for which all member banks used VersaTest for testing and certification, and more recently, the EMV rollout in the US.
Ascert's Managing Partner, Andrew Mould said "The cloud-hosted technical accreditation service for FPS is actually only one of several testing and certification services hosted on our Ascertified.com website worldwide. Hosting in the cloud provides an extra layer of simplicity and cost savings to our customers, who include some of the largest banks, processors and retailers in the world. We're pleased that the UK's Faster Payments Service recognized the advantages of a cloud-based solution ahead of time and that our Ascertified.com service was able to meet their needs."
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