Japan-based Bank of Tokyo-Mitsubishi UFJ (BTMU) has become the first adopter of Ace Software's Pelican payments product in a Sepa-compliant, software as a service format.
The payments product will be initially used for the Dutch and French markets before being rolled out to the rest of BTMU's European network.
According to Ace, Pelican's SaaS approach will enable BTMU to adapt to future changes to Europe's payments landscape, such as an expansion to the Sepa initiative, with much more flexibility.
Says Parth Desai, CEO of Ace. "Bank of Tokyo Mistubishi is the first financial institution to adopt the service and we expect demand for it to grow over the coming months."