Sentenial embarks on EUR20 million expansion as Sepa End Date looms
09 November 2012 | 8251 views | 0
Dublin-based payments specialist Sentenial is to spend EUR20 million on a pan-European expansion plan which will see the opening of four new offices on the continent ahead of the 2014 Sepa End Date.
The EU regulation which introduced the Sepa End Date has created a deadline of 1 February 2014 by which time all Credit Transfers and Direct Debits in euro must have migrated to the new Singe Euro Payments Area standards.
Sentenial, which offers Sepa migration and maintenance services for banks and corporates, says it will embark on an extensive recruitment campaign to support service delivery and development over the next 15 months.
The first of four continental European offices will open in Brussels on 12 November. Other planned openings in the first phase of the plan in the coming months include, Amsterdam, Frankfurt and Paris. Each office will house local support and sales resources.
Sentenial is also expanding its European partner programmme and is actively seeking partners to bring its Origix product suite to market throughout Europe.
Sentenial CEO, Sean Fitzgerald, says Origix - which is available on a hosted or installed basis - has benefited from an expanded network of bank and corporate clients in recent years and now provides coverage across nine European countries.
"This investment will enable us to accelerate product enhancement and pull in our roadmap for next generation Sepa - post End Date," he says. "Our customers will see accelerated product feature and new service evolution. Building on our presence in many countries by opening permanent offices we will enhance the service experience of our customers domestically and internationally."