What is KNPS Pro?
To automate and modernize Kuwait National Payments and Settlement process, Central Bank of Kuwait has introduced a new payment platform called Kuwait National Payment System (KNPS). KNPS is an efficient and an advanced electronic payments platform to support new payment instruments. The goal of this new initiative is to replace all paper-based manual processes by automating and executing transactions in real time.
This new system connects all financial institutions and payment gateways in Kuwait to enhance the efficiency of fund transfers, bill payments and direct debits and is set to roll out in two phases. KNPS is an evolving project model with aggressive implementation timelines from the Central Bank.
We help you by providing a highly efficient, tried and tested solution with real-time integration capabilities solve your KNPS payment challenges called KNPS Pro. KNPS Pro is a web based ISO20022 standard enabled, uniﬁed modular payment platform, which is scalable for KNPS future requirements. This system facilitates institutional transfers, customer credit transfers, direct debits and electronic bill payment & presentment modules with ﬂexible connectivity options through STPA / STPG to connect to Central Bank for first phase.
KNPS Pro can help you meet the evolving expectations of the regulator and thereby enhancing customer experience quickly and effectively by incorporating new enhancements efficiently adhering to the ever-changing regulatory and compliance requirements of the Central Bank of Kuwait.
KNPS Pro dependably processes large transaction volume, high value Kuwaiti Dinar payments for RTGS, batch/bulk low value payments (ACH) and near real time transfers initiated through omni-channels (RPS/MPS). KNPS Pro facilitates real time monitoring capabilities that lets your operation staﬀ manage the interactions with clearing systems & bank’s channels from a single window application. KNPS Pro allows banks to receive payments from various channels, send transaction data to the KNPS networks (ACH/MPS/RTGS) and post payments directly to the bank’s financial systems.
The solution is built on our expertise in servicing various banks in Bahrain through EFTS. With KNPS Pro you can be rest assured of being ready for all current and future regulatory needs in Kuwait.
What makes KNPS Pro unique?
- Modular Payment platform— ACH / MPS / RTGS support.
- Flexible Integration Adaptors for host systems—CBS / Omni channels.
- DNS / NRT processing support Real time monitoring dashboards.
- MT-MX Convertor support.
- STPA / STPG connectivity with CBK
- Dynamic and configurable workflow with definable threshold amounts.
- Auto printing of Customer Advices
- Auto IBAN generation / Validation.
- Flexible Rule Engine, alert Engine – Email / SMS.
- Auto Reconciliation Module Flexibility to enable centralized / decentralization model.
- Security Module with added security & control LDAP Integration.
- Extensive Reporting engine.
- Tried & tested solution with successful implementations in 19 banks & Billers.
- Flexibility to integrate with proprietary payments for domestic payments.
- Flexible N-eye workflow configuration.
- Integration with AML systems.
- Act as a complete STP enabler through end-to-end integration.
- Built on state-of-the-art Uniweb.
- Framework of Unity InfoTech, designed for true N-Tier architecture supporting straight through processing (STP) for all cycles