Sentenialâs EuroDebit solution combined with ACI Money Transfer Systemâ¢,offers a fully-functional solution enabling banks to respond efficiently to the business impacts of the SEPA Direct Debit regulation while minimizing the impact to payment processing.
Benchmark testing conducted in conjunction with a major European payments processing bank has proven Money Transfer System readiness to process SEPA Direct Debits. The EuroDebit mandate management enables an efficient and agile response to the business impacts of the SEPA Direct Debit regulation.
Paul Styles, business solutions manager at ACI Worldwide (EMEA), said: âProcessing SEPA Direct Debits is the next big challenge for European banks, and one that will exceed the work required to get ready to process SEPA credit transfers. By recommending Sentenial to our clients, and ensuring our products work together easily and efficiently, banks will be able to process Direct Debits quickly whilst ensuring all transactions are compliant with SEPA.â
Damien Molloy, Director of Marketing and Alliances at Sentenial said: âBanks have begun to realise the end-to-end challenges and complexities of providing SEPA Direct Debits to their customers. EuroDebit and Money Transfer System will deliver significant value to banks who seek cost effective compliance with SEPA in the longer term, streamlined Direct Debit processing, and continuity of service delivery to their customers. Banks need be confident that their solutions will meet the full scope of âtechnicalâ SEPA compliance, but also address the banks increasingly clear âbusinessâ requirements; this combined solution comfortably handles both.â
ACIâs Money Transfer System offers a single engine for payments processing and settlement, and will continue to do so in the SEPA environment. The solution also provides comprehensive monitoring capabilities enabling banks to track individual payments and monitor overall payments activity.
EuroDebit comprehensively addresses mandate-management, operational compliance, and service delivery to customers. It also offers advanced multi-scheme and multi-bank capabilities, enabling banks to grow in the future.