Sterling Commerce Partners With LogicaCMG on EBA Solution
LogicaCMG has joined forces with Sterling Commerce to create an EBA Connection solution enabling financial institutions to maximise opportunities created in the Eurozone as a result of the Euro Banking Association’s deployment of EBA STEP2. EBA STEP2 is a pan-European automated clearing house for high-volume, low-value transactions and bulk payments. STEP2 distributes payment instructions to any bank operating in the European Union by routing files through a central infrastructure. The automated process reduces the customer payment processing costs that continue to increase as new regulations on cross-border payments come into force in Europe. The EBA Connection – designed by LogicaCMG and powered by Sterling Commerce’s Sterling Integrator – provides end-to-end integration of the EBA STEP2 business process between the bank and the clearing system.