CS Company Implemented Integration Module for Visa B2B Сonnect Operation in Ukrainian Banks

19 Jul 2021

[CS Company Implemented Integration Module for Visa B2B Сonnect Operation in Ukrainian Banks]

In July 2021,   the first in Ukraine commercial launch of the Visa B2B Connect platform took place. The platform enables carrying out the direct international transactions among the clients of the banks connected to the platform. The platform was launched at BISbank (Bank for Investments and Savings), and the CS Company acted as the technological partner and the project integrator.

Cooperation between CS and BISbank (JSC “Bank for Investments and Savings”) began in 2020 — last autumn, the bank switched to the CS software package, and in December it signed the contract for the development of the integration module for connecting the bank to the innovative payment platform Visa B2B Connect.

Visa B2B Connect will allow the BISbank clients to conduct the international corporate payments as quickly and transparently as possible.

The developed integration module is a scalable solution that allows the banks – clients of CS to access the platform very quickly and conduct the international payments in the interests of their corporate clients with the most efficiency.

Features and Benefits

  • Payment processing center — Visa.
  • Payment system allows bank customers (legal entities) to perform international payments. Advantages:
    • low commission rates;
    • high speed of the funds transfer from the payer to the recipient;
    • payments execution without participation of the intermediary banks.
  • Payment system maintains the internal control over the financing of terrorism and money laundering operations.
  • Module is integrated with the CBS B2 and connected with its subsystems that are necessary for payments performance. 
  • Module provides an opportunity of receiving operational information about the payment status from Visa and performance of the bank’s net-position in calculations in the B2B system.
  • B2B payments have financial monitoring controls and connection with the export-import contracts. It allows to work with the reporting and implement regulator’s requirements more correctly.

The iFOBS client-bank development is already planned, so in the nearest future there will be an opportunity to perform such payments in the online mode.

Taras Leskiv, Project Manager, CS Company:

“It was an interesting project of the CBS B2 integration with the payment system Visa B2B Connect. We are committed to innovation and strive to implement new systems and “know-how” from the world’s leaders in the sphere of banking services into our software solutions. We hope that this functionality will allow the bank's clients to get a fast, reliable and profitable way to make international payments, meeting the clients requirements as much as possible. This project allowed us to gain a strong experience in working together with a product supplier — an implementation team of the Visa business solutions. We would also like to thank the BISbank’s team for the joint work in this project”.

Vitaliy Zinnikov, Chairman of the Management Board of The JSC “Bank for Investments and Savings”:

“We are pleased to introduce Visa B2B Connect service in Ukraine and offer our corporate and business clients fast and secure international transactions. We are convinced that due to this innovative payment solution our bank would contribute to strengthening of the domestic business and digital integration of Ukraine. We would like to emphasize the contribution of our partner — CS Company, without which the project could not be carried out. The high level of professionalism of the CS team and the willingness to accept challenges contributed to the development of an integration module for connecting to the Visa service ”.

If you want to get more detailed information about the integration module for connecting to the Visa B2B Connect system, please, contact us: b2_clientservice@csltd.com.ua.

Subscribe to our Updates