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Veracity Software Consultancy
B.V. offers its clients a broad range
of payment systems related
solutions with standard
software systems
tailored to their
specific needs.
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| TNS
(Telegiro Nieuwe Stijl) |
TNS (Telegiro Nieuwe Stijl) is a Dutch abbreviation which translates into Dutch Domestic Urgent Payments, New Concept.
The Telegiro circuit is mostly used for high value payments and payments requiring same day credit value dating. These payments are usually mortgage payments and payments to the domestic tax authorities.
The previous Telegiro system (Dutch domestic payments system) has been replaced by the new concept of paying these domestic payments through the SWIFT system via the Dutch Central Bank and later Target2. By using the Dutch Central Bank (and later on Target2) as a clearing institution the payments have already been settled upon receipt. Therefore no settlement risk is involved, allowing the beneficiary bank to directly advise its customer of the receipt of the payment.
Veracity rolled-out its TNS implementation per the start of March 2007. TNS is of course fully Target2 ready.
AIS
As a side product Veracity has also implemented the Account Information Service requestor. This allows a bank to request IBAN and BIC data online, based on the Interpay account number. This service can also be used by converter programs to automatically enrich the SWIFT messages to the TOP/FA and Target2 system with the correct IBAN and BIC code.
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