Application of the mechanism of integration of the automated banking system with money transfer systems

Abstract

The purpose of the study is to develop a comprehensive methodology that will allow financial institutions to choose such integration mechanisms that best meet their needs. The proposed methodology is based on the study and comprehensive analysis of available integration options, taking into account their advantages and disadvantages, as well as on the formation of selection criteria that reflect the key needs of a financial institution. The practical value of the study lies in the systematization of knowledge about the existing mechanisms of integration with payment systems and the selection of optimal solutions for further implementation. The problem of choosing the optimal mechanism for integrating automated banking systems with money transfer systems is quite relevant and important. The novelty of the study lies in the application of the latest advanced technologies and innovative approaches to optimizing financial transactions and ensuring financial security. The work uses an innovative approach, taking into account the practical lack of available sources that would provide complete and detailed information about the classification of various payment systems and would reveal all the features of their work.