Impel - Impel's ISO 20022 API to Transform the Institutional Payments Landscape

"Impel brings significant value to the global payments industry through cost and time efficiencies generated from incorporating blockchain technology while doing so within the context of regulation, security, and stability needed for a reliable and inclusive NextGen payment rail. "

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Impel is a fintech innovator that aims to revolutionize the institutional payments industry worldwide through NextGen solutions that shift the incumbent centralized and inefficient model to a decentralized peer-to-peer platform allowing for instant settlement around the clock at a fraction of the price charged by traditional payment rail providers such as the Single Euro Payments Area (SEPA) and The Society for Worldwide Interbank Financial Telecommunication (SWIFT).

Addressing the growing demands of institutional leaders and corporate treasurers for cost-effective and operationally seamless payment mechanisms, Impel launched a pioneering ISO 20022 compliant financial messaging Application Programming Interface (API) that offers all 733 data definition messaging types, as well as all the older 1,800+ versions for backwards compatibility. Organizations that take advantage of Impel's ISO 20022 API have the option to send one financial message at a time or roll-up as many messages as they desire, as a batched process.

While Impel's API may be used in parallel with nostro and vostro accounts and the Central Bank clearing system to settle payments, the game-changer for the industry is when API participants use digital assets for instant settlement, which eliminates global challenges such as clearance cut-off times and business closures on weekends and public holidays. This route is agnostic of nostro-vostro accounts, allowing transaction settlements to occur within minutes at any given moment.