NatWest teams up with Capco to deliver new ISO 20022-compliant Bankline Direct Digital solution
British bank NatWest is preparing to move clients and systems onto its new ISO 20022-compliant Bankline Direct Digital solution in collaboration with London-headquartered management and technology consultancy Capco.
NatWest debuts Bankline Direct Digital with Capco
Bankline Direct Digital is derived from the cloud-based architecture behind Bankline Direct, NatWest’s cash management solution that automates payment processing and data reconciliation for over 500 corporate and institutional clients, while also providing connectivity to UK and European payment schemes.
From this, Bankline Direct Digital operates as a host-to-host solution capable of achieving straight-through processing and real-time data access by integrating clients’ in-house systems with NatWest.
Industry protocols, such as ISO 20022, are applied to authenticate data in payment processing and the prevention of financial fraud.
The solution’s uptake is expected to enhance connectivity, fortify security and resilience, and ensure “long-term regulatory compliance and alignment with global standards” for clients, according to a statement by NatWest.
In comments, Jennifer Scott, MD and head of digital technology, commercial and institutions at NatWest, claims the bank has “invested hugely in our digital banking suite”, leading to the launch of three core services under Bankline Direct, including an intelligent router, payments orchestration layer, and data sync layer.
The launch comes only days after the bank joined hands with Mastercard to debut Approval2Buy, its new B2B mobile virtual card payment solution powered by its partner’s mobile virtual card app.
