22 May 2017
register for the webinar

Bundesbank and Equens to start exchanging Sepa payments

25 October 2010  |  2106 views  |  0 Source: Deutsche Bundesbank

Deutsche Bundesbank and Equens SE will establish a bilateral link between their Clearing and Settlement Mechanisms (CSMs) for the processing of SEPA Credit Transfers, starting in November 2010.

The interconnection between the CSM operated by Equens and the 'SEPA Clearer' of the Retail Payment System (RPS), the Bundesbank's CSM, will allow them to reciprocally exchange SEPA Credit Transfers on behalf of their respective banking communities in a reliable, fast, and cost-efficient way. The cooperation is based on the Technical Interoperability Framework designed by the European Automated Clearing House Association (EACHA).

"We are pleased to contribute to the interoperability in European retail payments by implementing an interCSM link between Equens and the SEPA Clearer of Deutsche Bundesbank. The successful start of the cooperation will allow clients connected to both CSMs to exchange SEPA Credit Transfers with each other in a reliable, fast, and cost-efficient way," said Carl-Ludwig Thiele, member of the Executive Board of Deutsche Bundesbank.

Michael Steinbach, Chairman of Equens' Board of Directors: "We are always aiming to improve the services for our clients. The connection to Deutsche Bundesbank's CSM community is an important step for us in gaining full reach in Germany."

The new bilateral interoperability arrangement provides banks which are connected to the Equens CSM with reach with the banks connected to the Bundesbank's RPS SEPA Clearer and vice versa, with no need for connection to the reachable CSM. The transactions exchanged between the two CSMs are routed via SWIFT, whilst TARGET2 is used to perform the settlement.

 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related company information

Equens

Related blogs

Create a blog about this story (membership required)
Visit www.capgemini.com/worldreportsvisit www.niceactimize.comvisit vasco.com/news/PSD2-compliant-solutions

Top topics

Most viewed Most shared
European banks lobby Commission to push ahead with screen scraping banEuropean banks lobby Commission to push ah...
8600 views comments | 29 tweets | 35 linkedin
Time for data-driven banking to come of ageTime for data-driven banking to come of ag...
8559 views comments | 28 tweets | 35 linkedin
Google and PayPal partner for mobile shopping by fingerprintGoogle and PayPal partner for mobile shopp...
8256 views comments | 27 tweets | 27 linkedin
Banks must get on AI bandwagon now – new Finextra researchBanks must get on AI bandwagon now – new F...
7951 views comments | 22 tweets | 29 linkedin
Twins fool HSBC voice biometrics - BBCTwins fool HSBC voice biometrics - BBC
7737 views comments | 19 tweets | 23 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job