BHF-BANK goes live with SEPA Gateway for direct debits on 1 November

Frankfurt - 26 October 2010

BHF-BANK plans to go live with Swissrisk Financial Systems' SEPA Gateway on 1 November. This solution will enable the bank to process international direct debit instructions in a faster, more reliable and cost-efficient way, thus extending its client service offering.

All payment service providers have committed to participate in their national SEPA (Single Euro Payment Area) direct debit scheme by November 2010. The introduction of the SEPA direct debit process represents the most important recent innovation within the European payments area, allowing banks for the first time to directly debit client accounts across international borders by using standardised processes and the respective catalogue of ISO20022 XML standard messages.

Swissrisk's SEPA Gateway is a fully integrated solution that can be tailored to fit any bank’s individual requirements, enabling them to settle SEPA credit transfer and direct debit instructions. Swissrisk is also committed to incorporate any further developments in the SEPA Rulebook into its solutions, helping customers to not only get ahead, but stay ahead.

"It only takes a few weeks to fully integrate our SEPA Gateway into an existing IT environment and make a financial institution 'SEPA ready'. Our solution is a cost-effective alternative that safeguards IT investments by enhancing rather than replacing existing applications. This helps our customers to keep pace with market developments and provide better services for their clients quickly and cost-effectively," said Dirk Vesper, VP Product Management at Swissrisk Financial Systems.

Andreas Schneider, SVP and Head of Global Payments at BHF-BANK: "We are pleased to announce that thanks to SEPA Gateway, we will be ready in time for the SEPA direct debit process, our integrated SEPA Clearer solution for direct debit services C2B and B2B. Having SEPA Gateway implemented will deliver value to our clients and our banks, and strengthen our payment service capabilities. For us, SEPA is not a standardised product offering, we consider and evaluate all possible options for providing further and better services so as to perfectly meet our clients' needs. With SEPA Gateway from Swissrisk Financial Systems, we have found a powerful tool that will allow us to further evolve our services."



Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development