Bank of America Merrill Lynch (BofA Merrill) has selected Sentenial to offer Origix Corporate, a single euro payments area (SEPA) payment and mandate management solution, to the bank's clients.
The solution enables the migration of legacy mandates to SEPA Direct Debit (SDD) payment instruments, on-going mandate management, document handling, and the generation of payment instructions. It offers a one-stop shop for full mandate lifecycle management and the enrichment of legacy collection files to SEPA-compliant standards, as is required from 1 February 2014 by EC SEPA legislation. The bank claims that clients will benefit from a seamless transition, with minimal changes to their existing processes.
According to Ad van der Poel, a product management executive for Europe, Middle East and Africa (EMEA) at BofA Merrill: "SEPA is an important development for our clients doing business in Europe. Sentenial is a specialist provider of SEPA payment solutions and our partnership with them will greatly enhance our value proposition in this space."
By Neil Ainger