Financial Infrastructures for Public Administrations
Wednesday, Open Theatre One 14:00 ÷ 14:30
This session is about ways to help Public Administrations in the EU region improve their business by using FinTP building blocks to:
enhance management of Structural Funds – public institutions are organized in a ‘closed user group type architecture’, using existing local infrastructures, for financial information and funds transfer.
streamline payment services (paying wages, pensions, subsidies and other expenses, as well as tax collection) – all financial transactions are processed centrally and electronically (using the SEPA format) from the State Treasury (or equivalent), past the interbank payment infrastructure (local ACH), to the appropriate bank accounts.
Interoperability is ensured by alignment to industry messaging standards.