Deutsche Bank talks up Sepa platform

Source: Deutsche Bank

Deutsche Bank today announced that its Pan-European Single Euro Payments Area (SEPA) platform, designed to serve both financial institutions as well as corporate clients for the mass payments business, is fully functional.

At the same time, the Bank will offer its clients new cash management products for payment transactions.

With the launch of SEPA due for January 28, 2008, Deutsche Bank has proven its readiness by implementing testing with the PE-ACH provider EBA STEP2. Additionally, Deutsche Bank was one of the first banks to be certified as part of SWIFT STAG testing.

Deutsche Bank is prepared to support banks in all stages of SEPA implementation, including SEPA payments and receipts. Financial institution clients are provided with easy to integrate channels and the clearing access to handle all volume sizes in the SEPA migration phase as well as a full white-labelling platform that leverages the Bank's multi-country SEPA ACH processing platform. Additionally, clients can rely on Deutsche Bank's local, native-speaking customer service in the SEPA countries. For the corporate market, Deutsche Bank's services are designed to allow corporates to realize the benefits of SEPA with minimal disruption. The focus has been on SEPA receivables for reconciliation, translation and conversion capabilities as well as full and global XML ISO20022 support - facilitating shared service center efficiencies.

Werner Steinmueller, Head of GTB, Deutsche Bank, said, "As a leading transaction banking provider and the largest Euro clearer, Deutsche Bank's determination to become the top SEPA bank for financial Institutions and corporate clients is built on a strong foundation. All Euroland entities of Deutsche Bank are linked to a new, robust SEPA platform, combining highly efficient ACH processing for credit transfers and direct debits. Deutsche Bank's dedication to being fully SEPA-compliant by 2008, both from a technology and operations perspective, highlights its commitment to its clients and the payments industry."

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