VocaLink has launched the SDD pilot to provide banks with an opportunity to test and validate a broad range of SDD services in advance of the scheme launch in November 2009.
Martin Wilson, chief commercial officer at VocaLink, commented: âWe are delighted that BAWAG P.S.K. is extending its existing relationship with us. This decision illustrates the success of our SEPA services. Our SDD offering enables more than SDD compliance as it provides BAWAG P.S.K. with enhanced services such as payments capture. These services will reduce the bankâs costs by capturing their clientsâ payments directly, removing the need for unnecessary intervention by the bank. Likewise, our mandate management services will minimise the bankâs infrastructure and development costs by centralising critical mandate information on behalf of the bank and its clients. These services have been specifically designed to meet the needs of our client banks and will position BAWAG P.S.K. ahead of the market.â
Joseph Laughlin, member of the management board at BAWAG P.S.K., commented, âWe have been very impressed with the VocaLink SEPA Credit Transfer service and so deciding to join the SDD pilot was very easy for us. SDD will be the trigger for widespread European adoption of SEPA and our corporate customers will now get a chance to realise the benefits of SEPA early.â
âEvery bank will have to include SEPA-compliant offerings,â adds Wilson. âThese need to be supported by robust processes and systems that meet the requirements of the EPC rulebook. Our pilot provides a safe environment for testing SEPA direct debit and the migration to SDD. As such we believe it will be attractive to banks and welcomed by the EPC.â
Joseph Laughlin, BAWAG P.S.K. adds, âThe SDD pilot will demonstrate to our corporate customers that BAWAG PSK is ahead of the market and delivering the SEPA vision through SDD. The value added services such as payments capture, validation, mandate management, exceptions management, and debtor and creditor services will make a real impact with our customers.â
BAWAG P.S.K. is already a customer of VocaLinkâs SEPA services. BAWAG P.S.K. was among the first wave of new clients when SEPA Credit Transfers went live in January 2008.