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EU Projects

Fenige S.A. is implementing a project titled “Development of a Settlement Center Integrating Payment Systems”, co-financed by the European Union under Measure 1.3: Research and Innovation in the Enterprise Sector, Priority I: Scientific Research and Innovation, of the European Funds for Lubelskie 2021–2027 Programme.

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Project Objective

The project aims to create and implement an advanced settlement center that will revolutionize financial transactions. It addresses the growing market demand for fast, secure, and universal payment methods while enhancing operational efficiency and accessibility of payment services for both consumers and businesses.
The research and development work within the project will be based on the latest advancements in information technology, including research methodologies, business process modeling and IT systems tools, development environments, and advanced software testing techniques. This will enable the creation of a payment center prototype, which, after a series of tests—both in a controlled laboratory environment and under real operational conditions—will be implemented.
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The R&D activities within the project will consist of three key phases:

Task 1

Industrial Research

This task will involve developing the technological, legal, and economic conditions necessary for the creation of the settlement center. Based on these conditions, a prototype will be built to enable money transfers between different payment systems and schemes, including integration with open banking and payment cards.

Task 2

Experimental Development Work

This phase includes the construction of the settlement center prototype, testing in a laboratory environment and real operational conditions, as well as the design, development, and testing of the settlement center, enabling fund transfers between different payment systems, along with a currency exchange rate management module.

Task 3

Direct Implementation

In the final stage, the developed settlement center will be deployed and fully operational.
This project represents a breakthrough in financial products, introducing an international financial transfer service based on the developed settlement center integrating payment systems.

Target Group

The project is primarily aimed at companies in the financial sector, which will benefit from the new settlement center by gaining the ability to seamlessly integrate various payment systems and handle multi-currency transactions. This will open the door for them to expand into international markets.
Another important group consists of SMEs, which—thanks to the automation and optimization of payment processes—will be able to offer customers faster and cheaper cross-border transfers while maintaining stable exchange rates.
Additionally, the solution will support payment operators and financial institutions in need of a single, secure hub for managing money transfers, as well as individual users seeking easy access to advanced payment services in their everyday lives.

Expected Results

The key outcome of the project will be a functioning prototype of the settlement center, which, after completing laboratory and operational tests, will be implemented in the operations of Fenige S.A. Thanks to the use of an advanced currency rate management module, the project will significantly accelerate transaction processing times—both within the system and cross-border—and lead to substantial optimization of operational costs.
The implementation of a solution integrated with open banking and VISA/Mastercard standards will minimize currency risk, increase security levels, and strengthen Fenige S.A.’s competitive market position.

2,141,856.25 PLN

Project value

1,217,420.59 PLN

EU Funds Contribution