Faster Payment System (“FPS”) Implementation

Client: A Hong Kong local bank

Duration: Mar-18 to Sept-18 (6 months)

Position & Role Played: Lead Delivery Architect


The Hong Kong Monetary Authority (HKMA) and the Hong Kong Interbank Clearing Limited (HKICL) jointly introduced the Faster Payment System (“FPS”) to facilitate low-cost, real-time HKD and CNY interbank money transfers among market participants, including banks and e-wallet operators. An integral feature of FPS is the Addressing service, allowing payers to use the payee’s email address, mobile phone number, or FPS identifier instead of the traditional bank account number for seamless money transfers.

In compliance with HKMA regulations, a local Hong Kong bank has chosen our IBM Integrated Global Payment System (“IGPS”) solution to implement FPS payment processing workflows based on the ISO20022 standard. This initiative is set to be accomplished within a 6-month timeframe, aligning with the stringent deadline imposed by HKMA.

My Contribution:

I played the Lead Architect role to help the client to

  1. Understanding FPS Requirements: Facilitating a comprehensive understanding of both functional and non-functional requirements (such as performance and security) associated with the Faster Payment System (FPS).
  2. Designing Payment Processing Workflow: Customizing and designing the payment processing workflow on IBM IGPS to seamlessly align with the specified functional requirements of FPS.
  3. Integration Architecture Design: Determining and designing the integration architecture of IGPS with the core-banking and reporting systems of the bank.
  4. Leading Development Team: Taking charge of leading the local development team to implement the payment processing workflows and integrate various systems effectively.
  5. Conducting Testing: Overseeing functional testing, including System Testing (SIT), and industrial testing with other market participants to ensure robust service.
  6. Performance Testing: Devising a comprehensive performance test plan and executing performance tests to validate system performance against the HKMA FPS Service Level Agreements (SLAs).
  7. Troubleshooting and Tuning: Engaging in system performance troubleshooting and tuning activities to meet the specified response time SLAs.
  8. Cutover Planning: Developing the production cutover plan and conducting deployment rehearsals in collaboration with the client bank.
  9. Implementation and Hypercare: Managing system implementation and providing post-implementation hypercare support to ensure a smooth transition and optimal system performance.