VocaLink and Eiger Systems have announced a partnership to provide a new corporate access service to banks and their business customers across Europe. The service provides banks with a platform for their business customers to use for submitting their euro payments. It will offer secure access through a single channel to shared services for banks and their business customers allowing them to originate and manage single euro payments area (SEPA) transactions. Building on the recently launched VocaLink € Clearing and Settlement Mechanism (€CSM), as well as both companies’ experience, this end-to-end service will allow businesses to take advantage of the opportunities that the SEPA provides. It will also give banks a competitive edge by enabling their business customers to take advantage of the latest SEPA schemes at a low cost. Banks offering the corporate access service to their business customers will register and control the rights of their users online. Advanced gateway software from Eiger Systems connects the corporate back office to the VocaLink €CSM service over a choice of secure connections with the identity of the customer authenticated using bank-issued IdenTrust credentials. The corporate access service can be branded by the individual banks to reinforce the bank’s role in providing access to euro payment services for their customers.
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