RBS works with Experian on SEPA-compliant data conversion solution

8 October 2010

Financial technology provider Experian is to work with the Royal Bank of Scotland (RBS) on developing its global payment validation and data conversion services.

According to the firm, its conversion product will enable RBS’s corporate clients to check and then transfer customer data into International Bank Account Numbers for both domestic and cross-border payments.

The service will ensure firms utilising RBS to make payments will be compliant with Single Euro Payments Area (SEPA) regulation, Experian explained.

Wilco Dado, head of Global Payments at RBS, said: “Through Experian we will be able to provide our customers with a range of services that allow them to mitigate against the cost and risk associated with continual changes in the global payments market.

“This new service will allow our corporate customers to validate and convert bulk data files and to validate bank account data at the point of data entry."

“As a result, customers will be able to successfully route payments via SEPA or other routing mechanisms, whilst completing any missing information required for worldwide payments,” he added.

During September, RBS announced it would cut 500 back-office positions after stating it would make up 3,500 jobs redundant in similar positions earlier in the year.

By Jim Ottewill

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