Family B · Running products and operations
MeshFin Pay
Payments, clearing and settlement
Every payment validated, confirmed against the payee and the mandate, screened, routed to the right rail, repaired where it can be and settled, with the status explained to the customer and the exceptions held for a person.
MeshFin Pay (MF-10), the service for payments, clearing and settlement, is one of the twenty-four MeshFin services, in the "Running products and operations" family, which follows the BIAN Operations and Execution business area. It covers the BIAN service domains Payment Order Initiation, Payment Orchestration, Payment Confirmation, Payment Settlement, Payment Rail, Financial Gateway, Transaction Authorization, Direct Debit, Direct Debit Mandate and Cheque Processing in whole or in part. Every payment validated, confirmed against the payee and the mandate, screened, routed to the right rail, repaired where it can be and settled, with the status explained to the customer and the exceptions held for a person. It replaces payments hub, screening bolt-ons, exception queue spreadsheets and repair by hand. AI agents carry the work end to end; a named person takes every decision with legal or financial effect on a customer, the balance sheet or a regulatory obligation. It is core for a universal and retail bank, core for a mutual and community bank, core for a non-bank lender and fintech.
BIAN service domains this service covers
In the BIAN Operations and Execution business area of the Service Landscape 14.0, in whole or in part. Lay this over your own BIAN map to see what MeshFin Pay covers and what stays. BIAN has not reviewed or endorsed MeshFin.
- Payment Order Initiation
- Payment Orchestration
- Payment Confirmation
- Payment Settlement
- Payment Rail
- Financial Gateway
- Transaction Authorization
- Direct Debit
- Direct Debit Mandate
- Cheque Processing
What it replaces
- Payments hub
- Screening bolt-ons
- Exception queue spreadsheets
- Repair by hand
What it reacts to
- Instruction received on any channel
- Inbound ISO 20022 message
- Return or recall
- Settlement window opens
- Payment fails
- Rail outage
The agents that carry it
Instruction agent
Validates and enriches the instruction, confirms the payee and the mandate, and routes the payment to the right rail.
Screening hand-off agent
Passes each payment through the sanctions and fraud services and holds it until they answer, with the reason visible.
Repair agent
Repairs exceptions it can repair from the customer's own data, and holds the rest for a person with the fix proposed.
Settlement agent
Reconciles settlement with each rail, handles returns and recalls, and explains the status to the customer.
Where a person decides
No decision with legal or financial effect on a customer, the balance sheet or a regulatory obligation is taken by an agent alone. In MeshFin Pay, these decisions are held for a named person, with the agent's evidence and recommendation attached.
| Decision | Who decides | Why a person |
|---|---|---|
| Release of a payment held by sanctions or fraud screening | Sanctions officer or fraud officer | Statutory and financial effect |
| Recall or reversal of a settled payment | Delegated officer | Financial effect on two parties |
| Override of a payment limit | Team leader | Commits the institution |
Records it writes
Payment order with validation · Screening outcome · Repair log · Settlement reconciliation
Before MeshFin: the baseline this service is measured against
Illustrative figures for a mid-sized institution on the systems the service replaces. Sample data, not a customer's. A live service reports what its agents are doing instead.
Payments a day
620,000
across every rail
Exceptions repaired by hand
2.1%
today, each a queue item
Held payments explained
no
today; the customer rings to ask
Recalls resolved
7 days
median today
Institutions: core for a universal and retail bank, core for a mutual and community bank, core for a non-bank lender and fintech. Universal and retail bank ● · Mutual and community bank ● · Non-bank lender and fintech ●.
Questions banks ask about MeshFin Pay
- What does MeshFin Pay do?
- MeshFin Pay is the MeshFin service for payments, clearing and settlement. Every payment validated, confirmed against the payee and the mandate, screened, routed to the right rail, repaired where it can be and settled, with the status explained to the customer and the exceptions held for a person. It reacts to events such as instruction received on any channel, inbound iso 20022 message and return or recall, and writes payment order with validation, screening outcome, repair log and settlement reconciliation as records.
- Which BIAN service domains does MeshFin Pay cover?
- Payment Order Initiation, Payment Orchestration, Payment Confirmation, Payment Settlement, Payment Rail, Financial Gateway, Transaction Authorization, Direct Debit, Direct Debit Mandate and Cheque Processing, in the BIAN Operations and Execution business area, in whole or in part. The mapping is to the published BIAN Service Landscape; BIAN has not reviewed or endorsed MeshFin.
- What systems does MeshFin Pay replace?
- Payments hub, Screening bolt-ons, Exception queue spreadsheets and Repair by hand. Because the service runs on the MeshFin platform, the licence, integration and upgrade costs of those systems retire with them.
- What do the AI agents do in payments, clearing and settlement?
- The instruction agent validates and enriches the instruction, confirms the payee and the mandate, and routes the payment to the right rail. The screening hand-off agent passes each payment through the sanctions and fraud services and holds it until they answer, with the reason visible. The repair agent repairs exceptions it can repair from the customer's own data, and holds the rest for a person with the fix proposed. The settlement agent reconciles settlement with each rail, handles returns and recalls, and explains the status to the customer.
- Which decisions does a person still take?
- Agents never take a decision with legal or financial effect on a customer, the balance sheet or a regulatory obligation. In MeshFin Pay, a person decides release of a payment held by sanctions or fraud screening (sanctions officer or fraud officer), recall or reversal of a settled payment (delegated officer) and override of a payment limit (team leader). The record shows who decided, why, on what evidence and under which delegation.