Dion Global Solutions (BSE: 526927), technology partner to the financial services industry, announced today that Bratislava headquartered Slovenská sporiteľňa bank has chosen its Sepa Gateway payment solution for the processing of SEPA Credit Transfers and Direct Debit payments.
Slovenská sporiteľňa is a member of Erste Group, one of the largest financial services providers in Central and Eastern Europe, and will implement Dion's SEPA Gateway to automate payments in line with SEPA regulations. These regulations will see "legacy" national credit transfer and direct debit schemes end on 1 February 2014 for European countries that have signed the SEPA legal framework, and will dramatically increase transaction volumes for SEPA instruments. Back office operations and clearing houses affected by SEPA will need to adapt transaction processing to ensure compliance with workflow rulebooks published by the European Payments Council (EPC).
Dion's SEPA Gateway is a flexible, rules-based solution for payments settlement, providing standard interfaces that can be easily customized to fulfil market or bank specific requirements. Based on Dion´s 'X-Gen' Financial Messaging and Workflow Suite, the solution embeds easily within current in-house applications, enabling financial institutions to achieve SEPA compliance. Both X-Gen and SEPA Gateway do not require modifications to existing business applications, protecting existing investments.
"Clearing of SEPA payments will become a major part of our core banking business once the regulations are implemented," said Petr Brávek, COO, Slovenská sporiteľňa. "Dion's SEPA Gateway provides us with the performance and reliability we need to ensure preparedness with these regulations. With the short implementation timeframe and ability to integrate the application alongside our other systems, the solution will help us achieve compliance with the SEPA regulations in as efficient a manner as possible."
Dirk Vesper, Vice President Product Management, Dion said: "The SEPA Gateway dramatically simplifies SEPA migration projects for banks. It reduces the complexity of the EPC rulebook implementation without the need to undergo major changes to the existing back office application landscape. We look forward to working with Slovenská sporiteľňa to make the transition to SEPA compliance as smooth as possible over the coming months."