VocaLink and Seceti to work together to provide SEPA reach

London - 3 July 2007

Following yesterday's announcement of the launch of Europe's first independent pan-European payment service in partnership with 10 banks from across Europe, VocaLink's European reach continues to expand. VocaLink, the transaction specialists, has today signed a memorandum of understanding with Seceti to provide SEPA reach. Seceti, a leading payment service provider in Italy is part of the ICBPI banking group. This partnership will form part of VocaLink's Europe-wide reach for SEPA transactions and gives its clients additional flexibility in choosing how they route their payments to achieve low transaction costs.

VocaLink’s Chief Marketing Officer, Martin Wilson said “We are delighted to be working with Seceti. Through our collaboration we are expanding our reach options in Europe, which ensures we are able to deliver the most cost effective and efficient service to the mutual benefit of our clients.”

In July 2006, in preparation for SEPA, VocaLink implemented Europe’s most advanced payment platform, capable of securely processing 36 billion credit transfers and direct debits. The agreement with Seceti is another major milestone on the path to delivering VocaLink’s SEPA solution into the European banking market. Its unique approach to reach, draws on a network of partner banks, interoperable CSMs and bank’s own bilateral arrangements. This ensures a single point of entry for VocaLink’s clients.

Giuseppe Capponcelli, General Manager of Seceti commented “SEPA brings unique challenges for European banks and corporates and VocaLink is once again at the forefront of providing innovative solutions. Seceti’s reciprocal clearing service arrangement with VocaLink will allow us to provide guaranteed reach for our clients.”

In April 2007, VocaLink announced the signing of a memorandum of understanding with the EBA to deliver reach into 31 markets for SEPA. This signed memorandum of understanding between VocaLink and Seceti will allow both organisations to provide their clients with an expanded choice of routing options to suit their needs.

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