Major Slovakian Bank prepared for high processing volumes ahead of SEPA deadline
Dion Global Solutions (BSE: 526927), technology partner to the financial services industry, has announced that Slovenská sporiteÄ¾Åa has started processing Single Euro Payments Area (SEPA) transactions with its SEPA Gateway technology. SEPA payments have been cleared via the technology since July last year, and the bank also migrated direct debit payments to the platform from February 1st 2014.
This means Slovenská sporiteÄ¾Åa can now fully automate payments and direct debits in line with SEPA, which is an EU initiative aimed at simplifying bank transfers across Euro currency nations. The Erste Group owned bank, which processes the highest volume of retail transactions across Slovakia, is using Dion’s technology to help manage high transaction volumes in preparation for SEPA’s deadline for payment transfers, recently extended to August 2014.
Petr Brávek, COO of Slovenská sporiteÄ¾Åa, said: “No bank can afford to rest on its laurels when it comes to the clearing and processing of SEPA payments, despite the recent deadline extension providing extra breathing space. Dion provides our bank with a stable IT solution, which fully meets the requirements of the largest bank in Slovakia”
Dirk Vesper, Vice President of Product Management at Dion said: “Our close co-operation with the team in Slovenská sporiteÄ¾Åa has allowed the bank to hit compliance targets way in advance of the newly proposed SEPA deadlines. Our SEPA Gateway technology simplifies migration projects for banks, reducing complexity without the need to make changes to existing business operations. We look forward to continuing to work closely with Slovenská sporiteÄ¾Åa to ensure that any newly enforced regulatory measures are met in good time."