Oracle adds Sepa direct debit module to Flexcube Messaging Hub

Source: Oracle

Oracle Financial Services Software, a majority owned subsidiary of Oracle, today announced that Oracle Flexcube Messaging Hub 2.0 now supports Sepa Direct Debit functionality.

SEPA Direct Debit is a Pan-European initiative to help automate and provide reliability and predictable execution time to Direct Debit.

In addition, SWIFT has awarded Oracle FLEXCUBE Messaging Hub a SWIFTReady SEPA label for 2008.

The label acknowledges that the comprehensive SWIFTNet messaging solution complies with ISO20022 standards for SEPA, European Payments Council implementation guidelines and Clearing and Settlement Mechanism Market Practices.

Oracle FLEXCUBE Messaging Hub, with its scalable framework, helps banks address their SEPA Credit Transfer and SEPA Direct Debit requirements on a single platform.

Leading banks around the globe use Oracle FLEXCUBE Messaging Hub to help consolidate their financial messaging over SWIFTNet. The solution supports both credit and debit services of the Euro Banking Association (EBA) STEP 2 platform.

Oracle FLEXCUBE Messaging Hub also offers multiple options for integration with back-office applications that enable banks and financial institutions to preserve rather than replace their existing systems.

"I would like to congratulate Oracle Financial Services Software for successfully meeting SWIFT's stringent accreditation requirements in achieving SWIFTReady SEPA label 2008 for Oracle FLEXCUBE Messaging Hub. As a SWIFTReady solution, it will help facilitate a smooth transition for the financial institutions in meeting the implementation challenges set out by SEPA initiatives," said Eric Meirlaen, Relationship Manager, SWIFT Partner Management.

"Oracle FLEXCUBE Messaging Hub for SEPA will help banks enable their business applications for SEPA standards and provide innovative cash and treasury services to their customers. The SWIFT Ready SEPA Label demonstrates our commitment to our customers, to standards and to providing solutions that improve straight through processing, reduce risk and minimize costs," said N.R.K.Raman, Managing Director and CEO, Oracle Financial SServices Software.


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