PaySett Corporation a global provider of payment solutions and Sagicor Bank (Barbados) announced today the launch of the bank’s new real time payments service based on the ISO 20022 messaging standard running under the AWS platform.

George Thomas, CEO of Sagicor Bank (Barbados) stated, “As the region’s first digital bank, we are duty bound to work with our partners to ensure that their technology posture is robust, modern, and forward-thinking. We partnered with PaySett to future proof their solution and as such we worked with them to certify their platform in the cloud. This is a mutually beneficial and monumental achievement which is the first of its kind in the anglophone Caribbean.”

The real time payments (RTP) solution PayExpedite® will further expand the financial institution’s payment capabilities in Barbados under the Amazon Web Services (AWS) platform.

Jesus Garcia VP of Business Development at PaySett Corporation added, “The Sagicor Bank real time payments implementation with our market proven PayExpedite® solution demonstrates the product’s flexibility to adapt to different operating environments of our customers while at the same time providing seamless integration with Sagicor Bank’s core banking system and origination channels, as well as the local clearing house. Our research indicates that over the coming years regional financial institutions will be looking to move some of their infrastructure to cloud platforms such as AWS in order to streamline operations and reduce costs. We are delighted to support these efforts. Additionally, Sagicor Bank’s future electronic payment offerings will be backed by a world class payments engine that will complement the bank’s future strategy and is capable of supporting different types of payment services including P2P, digital wallets, eCommerce, and others for consumers, businesses, and government institutions.“