Nordic Bank Selects Clear2Pay

Clear2Pay has signed a contract with Norwegian bank DnB NOR. The bank’s cash management department will deploy Clear2Pay’s Bank Payment Hub product and will allow corporate customers to increase bulk payment volumes, STP and transparency. The contract will allow Clear2Pay to expand its presence in Scandinavia. The system will allow the bank’s customers to send one single bulk file with payments to be executed from all Nordic branches. The system will identify and validate payments according to (local) rules and regulations and convert files to formats defined by the bank. Acknowledgements, deviation reports, credit/debit advices and statements of account covering all Nordic countries will be delivered to the customer in one or multiple formats according to customer agreement and frequency.


Related reading

New consumer banking head for Citi Asia Pacific