Rabobank and Logica to Launch SEPA Payment Scheme for Corporates

Rabobank and Logica have partnered to help corporates meet the introduction of the single euro payments area (SEPA) through a software-as-a -service (SaaS) platform.

Logica says that the SaaS platform will help in meeting SEPA requirements by:

• Converting payment instructions and bank account numbers to the European International Bank Account Number/Bank Identifier Code (IBAN/BIC) standard.
• Providing mandate management services to support the implementation of the new European direct debit process.
• Creating a SEPA payment hub to support all incoming and outgoing SEPA transactions.

Logica adds that it is supporting Rabobank’s corporate customers with a timely migration to SEPA without impacting the continuity of their businesses. The recommended transition is not only important for large organisations, but for medium-sized and small institutions as well. Large Dutch corporates will begin the move to SEPA in October 2012, as determined in the National Forum SEPA (NFS).

“Corporates are facing huge changes and many are probably unaware of the impact SEPA will have on their organisation,” said Marco Bosma, director – financial logistics of Rabobank Netherlands. “It is our responsibility to support our customers both large and small, which is why we wanted a best-in-class solution to meet our needs.”

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