As banks modernise legacy core systems, payments infrastructure is increasingly becoming a critical component of transformation programmes. UBL UK is now upgrading its payments and reconciliation capabilities alongside its migration to a new API-first core banking platform, aiming to improve automation, reduce operational risk, and support future digital banking growth.
UBL UK Moves Payments and Reconciliation to Aqua’s Aquila Platform
UBL UK has selected Aqua Global’s Aquila platform to modernise its payments and reconciliation operations as part of the bank’s transition to the Essence core banking platform.
The deployment will replace manual, file-based SWIFT processing with API-driven connectivity, enabling automated IBAN and BIC validation, near real-time payment execution, and integrated reconciliation workflows. By bringing payments, messaging, and reconciliation onto a single platform, the bank aims to simplify operations while creating a more scalable foundation for growth.
Supporting an API-First Banking Environment
The project forms a key part of UBL UK’s wider migration to Essence, an API-first core banking environment designed to support greater agility and digital innovation.
The new infrastructure is expected to improve operational efficiency by reducing manual intervention across payment processing activities. Automated validation and reconciliation capabilities will also help minimise processing errors, reduce missed cut-off times, and lower the risk of associated penalties.
UBL UK processes approximately 100,000 payments annually across its personal banking, business banking, treasury, real estate lending, and international money transfer operations.
Focus on Automation and Operational Resilience
Alongside the platform implementation, Aqua Global will provide its Proactive Infrastructure Managed Service during the first year of operation. The managed service includes ongoing monitoring and support designed to help ensure stability during the transition period.
The bank has worked with Aqua Global for more than a decade and previously collaborated on its migration to ISO 20022 messaging standards. The latest deployment represents a continuation of that relationship as UBL UK modernises core banking and payments infrastructure simultaneously.
For smaller and mid-sized banks, combining core banking transformation with payments modernisation is becoming an increasingly common strategy as institutions seek to improve efficiency while controlling technology complexity and operational costs.
What this means for the industry
- Banks are increasingly modernising payments infrastructure alongside core banking migrations.
- API-driven payment architectures are replacing legacy file-based processing environments.
- Automated reconciliation is becoming a key priority for reducing operational risk and improving efficiency.
- Managed services are emerging as an important support layer during large-scale banking transformation programmes.
