Sentenial’s EuroDebit Direct Debit Solution chosen by ABN Amro Bank to deliver SEPA Direct Debit Compliance

2 September 2008

Sentenial Ltd, an international supplier of total direct debit processing solutions, has been contracted by ABN Amro Bank to deliver a fully SEPA compliant solution for the bank’s pan European Direct Debit processing requirements. The Sentenial EuroDebit solution will be fully integrated to the bank’s core payments architecture to enable the bank meet mandated SEPA rule book requirements.

ABN Amro, one of the largest financial services groups in the world, recognises Sentenial’s flagship product, EuroDebit, as a key element in processing direct debit payments in a manner which facilitates smooth integration with multiple back office banking systems. Using EuroDebit, ABN Amro Bank will have the ability to rationalise a number of legacy and in-house Direct Debit systems and ensure the group’s scheme rule compliance while achieving high STP levels and exception automation. A major factor in the selection of the Sentenial solution was its multi-scheme, multibank, mulit-currency capabilities which provide ABN Amro Bank with a long term solution, future proofed against ongoing scheme changes, including SEPA. In addition to SEPA compliance, the EuroDebit solution will provide ABN with a proven Mandate Management platform to ensure the smooth and efficient processing of mandates under the new scheme rules.

Commenting, Sean Fitzgerald, CEO of Sentenial, said: “Sentenial is delighted to add ABN Amro Bank to its growing list of customer institutions in the Banking Sector. The bank, like Sentenial itself, is very much a thought leader in the SEPA area and this is the beginning of a relationship of significant mutual benefit in terms of sharing of ideas. ABN Amro, as an organization, shares Sentenial’s opinion that SEPA is, first and foremost, an open market, with all of the new opportunities that a new open market brings. SEPA does, of course, bring new compliance obligations to the bank. Sentenial will ensure that ABN Amro Bank meets all of its compliance obligations, while taking full advantage of the new commercial avenues which SEPA opens”

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