TietoEnator Achieves Sepa Credit Transfer Successes

22 September 2008

TietoEnator, one of the largest IT services providers in Europe, announces that SEPA Credit Transfer Solutions (SEPA Bulker) have been implemented for three of the largest Nordic Banks, Swedbank, Handelsbanken and Nordea, as well as for two Danish bureaus, BEC and SDC.

The Nordic banks have implemented TietoEnator’s SEPA Credit Transfer solution, group-wide enabling offices in different countries to connect to one single infrastructure. The Swedish Swedbank also supports its many local saving banks with SEPA Payment services.
The TietoEnator solution has enabled the banks to seamlessly connect to the EBA STEP2 SCT Service, as well as take full control for the bulking / debulking of all inward and outward SEPA payments, perform reconciliation and monitoring, as well as generate accounting entries.

This same SEPA Credit Transfer solution was also implemented for two Danish service bureaus, BEC and SDC, serving several hundred financial institutions with banking services, including payments and SEPA. BEC has more than 40 banking customers on SEPA Credit Transfers; with SDC serving more than 70. In addition to this, TietoEnator has delivered a recent upgrade to the SEPA solution, allowing the customers of these service bureaus to connect as indirect SEPA SCT participants to larger banks who are direct participants.

TietoEnator’s other successes in the SEPA area include a substantial upgrade to its Payments Engine, which is now fully SEPA Credit Transfer compliant. Customers such as Royal
Bank of Scotland, DnB NOR and 15 banks at Norwegian Service Bureau EDB are now fully operational with the upgraded payment engine solution. In addition to the SEPA Credit Transfer solution, TietoEnator has also services for corporate to bank (C2B) connections.

Commenting on TietoEnator’s progress in SEPA Credit Transfer solutions, Dagfinn Loen, Sales Director Payment Solution, said, “We are delighted about our great success with our SEPA Credit Transfer offerings. It illustrates TietoEnator’s commitment to proactively invest and support new market initiatives in the payments area and to continue to be a leading provider of payment solutions to the market. In the SEPA area, our investments continue with SEPA Direct Debits and we are optimistic about continuing our success in this area too”.

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