Business and technology service provider Logica has signed an agreement with Rabobank to help the Bank's corporate customers meet the introduction of Single Euro Payments Area (Sepa).
As part of this collaboration, Logica will enable the Netherlands-based bank to meet the SEPA requirements through a 'Software as a Service' platform (SaaS) by:
• Converting payment instructions and bank account numbers to the European IBAN/BIC standard
• Providing mandate management services to support the implementation of the new European direct debit process
• Creating a SEPA payment hub to support all incoming and outgoing SEPA transactions
Logica is supporting Rabobank's corporate customers with a timely migration to SEPA without impacting the continuity of their businesses. The recommended transition is not only important for large organisations, but for medium-sized and small institutions as well. Large corporates will begin the move to SEPA in October this year, as determined in the National Forum SEPA (NFS).
"Corporates are facing huge changes and many are probably unaware of the impact SEPA will have on their organisation," said Marco Bosma, Director Financial Logistics of Rabobank Netherlands. "It is our responsibility to support our customers - both large and small - which is why we wanted a best-in-class solution to meet our needs. We selected Logica as one of our partners because of their extensive experience with payments, as well as their knowledge and expertise, something which is extremely important for Rabobank."
"Working with Rabobank to cope with the upcoming SEPA requirements is a key milestone in our relationship," said Marcel Sommeling, Vice President Financial Services Logica Benelux. "As a trusted partner, we will work with Rabobank to deliver Logica's SEPA payments hub to its corporate customers. Logica has a proven track record in financial services and we're looking forward to working closely with Rabobank to deliver a solution that will work with them now and in the future."