BofA Merrill Selects Sentenial to Power SEPA Mandate Management Solution
Bank of America Merrill Lynch (BofA Merrill) has selected Sentenial to offer Origix Corporate, a single euro payments area (SEPA) payment and mandate management solution, to the bank’s clients.
The solution enables the migration of legacy mandates to SEPA Direct Debit (SDD), ongoing mandate management, document handling and the generation of payment instructions. It offers a one-stop shop for full mandate lifecycle management and the enrichment of legacy collection files to SEPA-compliant standards, as required from 1 February 2014 by SEPA legislation. Of particular note is that BofA Merrill’s clients will be able to benefit from the solution with minimal changes to their existing processes.
Ad van der Poel, product management executive for Europe, Middle East and Africa (EMEA) at BofA Merrill, said: “SEPA is an important development for our clients doing business in Europe. Sentenial is a specialist provider of SEPA payment solutions and our partnership with them greatly enhances our value proposition in this space. Bringing this mature product set seamlessly into the BofA Merrill portfolio will greatly assist our clients to reap the benefits of SEPA in a simple manner.”