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.

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Product analysis by function

Payment Operations Systems for Operations

Solutions for processing, clearing, and settling various types of payments efficiently and accurately.
More Payment Operations Systems More Operations ...

Core Payment Processing
(13 Yes /13 Known /15 Possible features)

Security and Compliance
(12 Yes /12 Known /15 Possible features)

Integration and Connectivity
(13 Yes /13 Known /15 Possible features)

User Interface and Experience
(11 Yes /11 Known /15 Possible features)

Payment Types and Channels Supported
(13 Yes /13 Known /15 Possible features)

Operational Controls and Monitoring
(12 Yes /12 Known /15 Possible features)

Reporting and Analytics
(2 Yes /2 Known /15 Possible features)

Customization and Configurability
(1 Yes /1 Known /15 Possible features)

Scalability and Performance
(5 Yes /5 Known /15 Possible features)

Deployment, Maintenance and Support
(7 Yes /7 Known /15 Possible features)

Customer and Bank Relationship Management
(4 Yes /4 Known /15 Possible features)

Innovation and Future-proofing
(2 Yes /2 Known /15 Possible features)

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Real-time Processing Ability to process and settle payments instantly.		Form3 advertises 'real-time payment processing and settlement' for Faster Payments, SEPA Instant, and other schemes.
Batch Processing Supports scheduled group processing of payments.		Batch payment file processing is supported for bulk and scheduled payment types (e.g., SEPA Credit Transfer).
Multi-currency Support Handles transactions in different currencies.		Form3 supports multi-currency transactions for cross-border and correspondent banking (SWIFT, SEPA, Faster Payments, CHAPS).
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.		Automated reconciliation is cited as part of operational monitoring and matching workflows.
Payment Limits Configurable maximum and minimum amount per transaction.		Payment limits and rules can be set/managed per scheme or customer.
Duplicate Payment Detection Identifies and prevents the execution of duplicate payments.		Duplicate payment detection is included in platform references to 'risk & compliance,' and via API documentation.
STP (Straight Through Processing) Payments pass from initiation to settlement without manual intervention.		Straight Through Processing is a core value proposition; no manual touch required in normal flow.
Multi-bank Settlement Supports payments to or from accounts at multiple banks.		Multi-bank settlement is supported—platform operates with multiple bank clients on a single cloud-native platform.
Fee Calculation Engine Automated calculation and deduction of transaction fees.		Fee calculation engine is included in features for scheme and customer-specific commercial logic.
ISO 20022 Compliance Supports new messaging standards for international and domestic payments.		Platform is ISO 20022 native as proven by product documentation and SEPA/CBPR+ support.
Failover and Redundancy Inbuilt mechanisms for high-availability and disaster recovery.		High availability and built-in failover detailed in architecture and uptime SLAs.
Transaction Rollback Ability to revert both sides of a payment in case of errors.		Full rollback capabilities for failures/errors, listed in developer/API documentation.
Automated Fees & Charges Deduction System can automatically calculate and deduct charges and fees per payment.		Automated deduction of charges and fees supported via API.
End-of-Day Processing Speed Speed at which EOD payment batches and postings are processed.		No information available

Multi-factor Authentication Requires multiple forms of verification for user/system access.		Multi-factor authentication referenced in both operational and access management sections.
Data Encryption Encryption of payment data at rest and in transit.		Encryption at rest and in transit is standard for Form3 APIs and platform per documentation.
Role-Based Access Control (RBAC) Users are provided access only to necessary features based on their role.		RBAC is cited in security documentation and platform controls.
Audit Trail Logs all user and system actions for compliance and review.		Comprehensive audit trail for all API/system activity is documented.
PCI DSS Compliance Adherence to Payment Card Industry Data Security Standards.		Form3 is PCI DSS certified for card scheme connectivity.
AML Screening Automatic screening of payments and parties against global AML lists.		AML screening integrated or available via partners as cited in compliance pack.
Fraud Detection Engine System detects and flags suspicious or fraudulent transactions.		Fraud detection engine available; real-time transaction screening described in platform features.
Sanctions List Filtering Payment instructions screened against up-to-date sanctions lists.		Sanctions list filtering included for SWIFT, SEPA, and Faster Payments compliance.
User Activity Monitoring Real-time monitoring of user actions for unusual behavior.		User activity monitoring, alerts, and analysis are part of security monitoring.
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.		Automated regulatory reporting/tax submissions available via API.
Configurable Fraud Rules Bank can set or modify parameters for automatic fraud detection.		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.		Automatic transaction time-outs included in payment risk controls.

API Availability Developers can access payment functions via documented APIs.		Full API documentation, developer sandbox, and open RESTful APIs.
Webhooks/Callbacks Real-time notifications sent to external systems on payment events.		Real-time webhook/callback features for event-based notifications.
Core Banking Integration Direct and seamless integration with core banking platforms.		Core banking integration supported via APIs and custom connectors.
Third-party Payment Gateway Support Connects with external payment gateways/processors.		Third-party payment gateway support available for global and regional rails.
Open Banking (PSD2) Support Supports open banking protocols for API-based data exchange.		Open banking and PSD2 API protocols referenced in integration guides.
File Import/Export Upload or download bulk payment instructions in standard formats.		Bulk payment import/export is available for high-volume financial institutions.
SWIFT Connectivity Secure integration with SWIFT for cross-border payments.		SWIFT connectivity available—advertised as a cloud-based SWIFT interface.
Instant Payment Network Access Participates in real-time payment networks (e.g., RTP, Faster Payments).		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.		SOAP and REST APIs are documented in Form3 developer portal.
Integration Middleware Support Works with standard integration brokers and ESBs.		Middleware and integration brokers are supported as part of integration options.
SFTP/FTP Interface Supports secure batch file transfer with partners or corporate clients.		Secure file exchange (SFTP/FTP) interfaces are supported for bulk file processing.
Customizable Data Mapping Bank can map/transform incoming and outgoing messages/fields.		Data mapping and message transformation can be configured per integration.
Cloud Platform Integration Works with major cloud providers for deployment and integration.		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

Web-based Dashboard Centralized graphical UI to monitor and manage payments.		Graphical web-based dashboards for payment status and operations provided.
Customizable User Roles Configure access and permissions for each user type.		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.		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.		Bulk upload of payments is standard for large B2B and banking use cases.
Live Payment Tracker Monitor statuses of payments in real-time.		Live payment tracking and status monitoring are available via dashboard and APIs.
Language Localization User interface available in multiple languages.		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.		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.		Payment confirmation and notification are part of core workflow.
Custom Fields and Templates Create and use custom fields or templates for different payment types.		Custom fields and templates available for payment initiation customization.
Multi-factor Authentication to UI UI access requires more than one method of authentication.		Supports multi-factor authentication for UI portals.
Customizable Theme/Branding UI can be branded with bank logo and colors.		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

ACH/SEPA Payments Supports initiation and settlement of ACH or SEPA transfers.		ACH (US) and SEPA (EU) are listed among the supported payment types.
Wire Transfers (SWIFT) Supports sending and receiving wire transfers over SWIFT.		Wire/CHAPS and SWIFT transfers supported for cross-border and high-value payments.
Instant/Real-Time Payments Handles instant payment rails (e.g., RTP, Faster Payments).		Explicitly designed for real-time payments including Faster Payments and SEPA Instant.
Domestic and International Payments Supports payments within and outside the country.		As payments-as-a-service, both domestic (e.g., UK, US) and international channels (SWIFT, SEPA) are provided.
Card Payment Processing Can process credit/debit card-based payments.		Card payment rails are included under Form3's supported payment types.
Digital Wallet Integration Supports sending/receiving to/from digital wallets.		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.		Bill payment rails are supported via API (direct debit, utility, etc.).
P2P Payments Supports person-to-person/peer-to-peer payments.		P2P payment support documented for partners building over the API.
Contactless Payments Supports NFC or QR-based payment methods.		API supports initiation of contactless and QR-based transactions via partner banks.
Recurring Payment Scheduling Allows setup and management of scheduled/recurring payments.		Recurring/scheduled payments available for ACH, SEPA, and standing order.
Request for Payment (RFP) Supports functionality to send requests for payment to payors.		Request for payment (RFP) via API is offered for relevant payment rails.
Bulk/Batch Payment Support System supports handling bulk payment files and transactions.		Bulk and batch payment uploads and handling supported; referenced in documentation.
Utility/Tax Payments Handles specific workflow for utility and tax payment processing.		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

Payment Queue Management Manage, prioritize, and manually intervene in payment queues.		Payment queue management features, including queue prioritization and visibility, are described in operational controls.
Automated Alerts/Notifications System generates real-time alerts for payment failures or exceptions.		Real-time alerting and notifications for payment failures/exceptions are supported both via dashboards and APIs.
System Health Dashboard Graphical representation of payment engine and infrastructure status.		System health dashboards for platform status and notifications are cited as available.
Transaction Latency Monitoring Monitors time from initiation to completion for payments.		Transaction latency tracking reported in monitoring/ops dashboards.
Capacity Scaling Automated or manual resource scaling for load spikes.		Elastic architecture supports scale-up/scale-down as needed.
Manual Override/Intervention Authorized users can halt, re-route, or escalate payments manually.		Manual override and intervention by operators is enabled via dashboard.
Exception Handling Workflow Automated and manual workflows for exception and error management.		Automatic exception/errored payment workflow is described.
SLA Enforcement and Tracking Monitors and enforces service level agreements for payments.		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.		Payment volume and processing state are tracked and exposed in real time.
Processing Backlog Visibility Ability to view, report, and clear backlogged payment transactions.		Operators can view processing backlog and clear transactions as needed.
Automated Retry for Failed Payments System automatically re-attempts failed payments.		Failed payments are automatically retried via platform workflow.
Escalation Workflow Workflow for routing high-priority or stuck payments to operations staff.		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

Real-time Reporting Instant reports on payment status, volume, and exceptions.		Custom and real-time reporting on payment status, volume, and exceptions is cited in product literature.
Custom Report Builder Configurable tool for designing custom reports on payments.		Report builder or custom downloadable reports for compliance and operational reporting are 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

Custom Workflow Configuration Business users can define and change payment process workflow.		Users can define approval flows, validation, and process routes per customer/operation.
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

Horizontal Scaling Capability System can scale by adding more servers/nodes.		Advertised as horizontally and vertically scalable on cloud infrastructure.
Vertical Scaling Capability System can use more resources on a single machine.		Cloud-native design allows both scaling out and up by design.
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.		Multi-region failover and redundancy cited in platform architecture.
Elastic Scaling Automatic scaling up/down with changing workload.		Elastic scaling policies as standard for cloud deployment; scales automatically with load.
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.		Scalable, distributed data storage across cloud described in product overview.
High-availability (HA) Uptime SLA Guaranteed uptime according to SLA.		No information available

Cloud Deployment Option Can be deployed in a private or public cloud environment.		Cloud deployment is the primary mode per product listing.
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.		References to hybrid deployments in some literature; can support bank migration scenarios.
Automated Software Updates Supports regular, automated updates with minimal downtime.		Platform supports rolling/automated software updates using cloud practices.
24/7 Vendor Support Offers round-the-clock technical support.		Form3 provides 24/7 technical support to customers as part of vendor SLAs.
Knowledge Base / Documentation Accessible and detailed product documentation for teams.		Comprehensive online documentation and developer portals are provided.
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.		Automated, cloud-native backup and rapid restore services are standard for this platform.
Sandbox/Test Environment Can deploy a full-featured sandbox environment for testing.		Sandbox/test environments available for development and integration testing.
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

Integrated Onboarding Workflows Guided onboarding for new payment customers or partners.		Onboarding workflows for new participants noted in API guides and partner integrations.
KYC Integration Integration with Know Your Customer processes and checks.		KYC processes supported via partner integrations or built-in compliance features.
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.		White-label and API-first design allows for client and partner customization and branding.
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.		Banks and customers can query payment status in real time via the API or dashboard.
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

API-first Architecture System design ensures all functions are exposed as APIs.		Platform is described as 'API-first' in product and technical literature.
AI/ML-driven Fraud Detection Uses machine learning to detect evolving payment fraud patterns.		Form3 offers advanced ML/AI for anomaly/fraud detection, as highlighted for operational resilience and compliance.
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

Form3 Payments Platform from Form3

Product analysis by function

Payment Operations Systems for Operations

Core Payment Processing (13 Yes /13 Known /15 Possible features)

Security and Compliance (12 Yes /12 Known /15 Possible features)

Integration and Connectivity (13 Yes /13 Known /15 Possible features)

User Interface and Experience (11 Yes /11 Known /15 Possible features)

Payment Types and Channels Supported (13 Yes /13 Known /15 Possible features)

Operational Controls and Monitoring (12 Yes /12 Known /15 Possible features)

Reporting and Analytics (2 Yes /2 Known /15 Possible features)

Customization and Configurability (1 Yes /1 Known /15 Possible features)

Scalability and Performance (5 Yes /5 Known /15 Possible features)

Deployment, Maintenance and Support (7 Yes /7 Known /15 Possible features)

Customer and Bank Relationship Management (4 Yes /4 Known /15 Possible features)

Innovation and Future-proofing (2 Yes /2 Known /15 Possible features)