The VocaLink €CSM is a pan-European clearing system for SEPA payments. The partnership with around 20 banks across Europe was announced last July to simplify the problem for banks of achieving reach across the euro-zone.
Through its partnership with ABN AMRO, VocaLink will also be able to offer one-stop processing of non-SEPA payments on behalf of its clients. These payments will be delivered world-wide via ABN AMRO's network in more than 50 countries. The first step will be to send Euro payments anywhere globally.
Mike Hampson, Head of Financial Institutions, Transaction Banking, ABN AMRO, said: "VocaLink provides an excellent partnership opportunity, sharing ABN AMRO's holistic approach to payments. ABN AMRO is pleased to work with VocaLink to provide reach, not just for SEPA but for non-SEPA payments globally."
Martin Wilson, Chief Marketing Officer, VocaLink said: "The combined expertise of VocaLink and ABN AMRO will provide our customers with the support they need to deliver international payments globally. This partnership brings added value to the market enabling us to introduce a new global service for Euro payments while supporting the existing business models of our clients''.
In addition to working with VocaLink, ABN AMRO offers a full range of multi-currency cash management and payments and clearing and settlement options to financial institutions and companies, including full payments outsourcing.