SEPA Connector

SEPA Solutions

 

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The introduction of the SEPA Direct Debits (SDDs) scheme, along with the Payment Services Directive, presents significant business and technology challenges for banks. For most, attaining SEPA reachability and complying with the regulations will place significant strain on infrastructure and involve considerable upfront investment. However, with regulatory pressure mounting and the business drivers becoming more apparent, institutions need to find a solution for this if they are to meet the November 2010 deadline for SDDs, and gain competitive edge.

 

To help banks address these challenges and meet the mandatory requirements of SDDs, Logica has formed an alliance with Deutsche Bank. Together, the two organisations have launched a new product offering for financial institutions, delivering low cost ‘plug and play’ SEPA functionality. This product – SEPA Connector – in combination with Deutsche Bank’s SEPA Connect service offering, enables banks to achieve SEPA reachability without having to make immediate major investment in infrastructure. As a result, this buys them more time to plan for the strategic transformation of their payments operations.

 

This new product offering is powered by Logica’s All Payments Solution (LAPS), which Deutsche Bank already uses to support its own operations across 15 countries. This payments hub provides the necessary flexibility to effectively adapt to forthcoming changes, as the rules around SEPA continue to evolve. Moreover, Deutsche Bank’s own implementation of LAPS will further ease the roll-out of the SEPA Connector to the bank’s financial institution clients.