Norwegian bank DnB Nor is deploying Belgium-based Clear2Pay's Bank Payment Hub to provide integrated cash management services across the Nordic region.
The bank says it will use the payment hub technology to support its new Nordic payment service which will be launched later this year.
The vendor says the customer interaction application from its payments hub package will be integrated with the bank's order management system.
The system will enable corporate customers to send a single bulk file with payments that are to be executed from all Nordic branches. Clear2Pay says the system will identify and validate payments according to local rules and regulations. Also, acknowledgements, deviation reports, credit/debit advices and statements of account covering all Nordic countries can be delivered to the customer in multiple formats.
Terje Nilsen, EVP, DnB Nor, says: "We have selected Clear2Pay to provide the software for this new service as they are able to offer a scaleable solution."