More NewsEBA Clearing Banks Get Ready for SEPA

EBA Clearing Banks Get Ready for SEPA

EBA Clearing has announced that 103 banks are currently participating in a testing program it offers in the STEP2 pan-European ACH (PE-ACH) platform. Among the testing participants are all the major banks in Europe, as well as a broad sample of small and medium-sized banks. The purpose of the STEP2 SEPA testing program is to allow banks and their customers to exchange and settle payments on the platform with each other, thereby fulfilling ‘Self Assessment Level 4’ for end-to-end testing, which is the highest level under the EPC SEPA testing framework. It also allows the STEP2 user community to demonstrate that the software, networks, operation and business practices work in an environment that is as near to live operation as possible. The SCT Service on the STEP2 platform offers financial institutions an interbank processing service which will route, deliver, clear and settle SEPA Credit Transfers to all adhering banks in SEPA, in a secure and reliable framework that is compliant with the EPC Rulebook and Implementation Guidelines, as well as the CSM Framework, using standard banking interfaces and global ISO XML standards.

Related Articles

Infosys Finacle to power Santander UK’s international cash management system

More News Infosys Finacle to power Santander UK’s international cash management system

3w The Global Treasurer
Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

4m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

5m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

5m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

5m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

5m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

5m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

6m Tasja Botha