Swedbank selects TietoEnator to develop Sepa platform

Swedbank selects TietoEnator to develop Sepa platform

European banking group Swedbank has contracted with Nordic IT vendor TietoEnator for the development and implementation of a system to manage Sepa credit transfers.

The new system will be integrated with the bank's existing SwiftNet connectivity technology for FileAct, which is also supplied by TietoEnator.

The application will enable Swedbank to comply with the requirements for Sepa credit transfers and the Euro Banking Association's EBA Stap2 SCT clearing service by January 2008, says TietoEnator.

Elisabeth Johnson, head of clearing and settlement, Swedbank, says: "It was important for the bank to identify a solution that could be used for the entire bank group, and not only for our HQ operations in Sweden and that enabled us to pro-actively respond to market requirements."

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