VocaLink Collaborates on SEPA and Signs New Clients

VocaLink has signed a memorandum of understanding with Seceti to provide single euro payments area (SEPA) reach. Seceti is part of the ICBPI banking group. This partnership will form part of VocaLink’s European reach for SEPA transactions and is designed to give its clients additional flexibility in choosing how they route their payments to achieve low transaction costs. In April 2007, VocaLink announced the signing of a memorandum of understanding with the EBA to deliver reach into 31 markets for SEPA. This signed memorandum of understanding between VocaLink and Seceti will allow both organisations to provide their clients with an expanded choice of routing options to suit their needs. In other news, 10 banks have signed up to VocaLink’s pan-European euro clearing and settlement system. The €CSM partnership is designed to provide banks and their clients with services following the introduction of the SEPA in 2008. Member banks are able to be partners and clients with the partnership. The new transaction services available through the partnership include AML and OFAC compliance, corporate access services, direct debit mandate management, non-SEPA payment processing and payment exceptions management.


Related reading

New consumer banking head for Citi Asia Pacific