EBA Clearing Banks Launch SEPA Direct Debit Implementation Forum

Future participants in the single euro payments area (SEPA) Direct Debit (SDD) services of EBA Clearing convened to launch an implementation forum. The central objective of the forum is to ensure a smooth start-up of the EBA Clearing SDD services and in this way contribute to a successful commercial development of the SDD Core and B2B payment instruments. The EBA Clearing SDD Services are scheduled to go live on the company’s pan-European automated clearing house (PE-ACH) platform STEP2 on 2nd November 2009 in line with SDD’s launch date.

The SDD Implementation Forum will serve as a communication platform for banks participating in the STEP2 SDD services: it will allow for regular exchange on SDD matters in the months preceding and following the go-live of the services. This exchange will put EBA Clearing and the SDD banks in a position to optimise their launch preparations and service monitoring activities as well as to quickly remedy any teething problems that might materialise during the ramp-up period.

“The SDD Implementation Forum of EBA Clearing will help participating banks to ensure reliable and smooth end-to-end processing of the new direct debit instruments from the start,” said Gilbert Lichter, chief executive of EBA Clearing and secretary general of the Euro Banking Association (EBA). “Based on this stable SDD environment, banks will be able to roll out pan-European direct debit offerings to their customers in a timely and efficient manner.”

The new EBA CLEARING forum will also support the STEP2 SDD community in developing enhanced business practices and value-added services around the STEP2 SDD offerings in a direct dialogue. In this context, a particular focus will be placed on evolving the STEP2 SDD B2B Service in order to help the banks roll out B2B products of great commercial value to their corporate customers.


Related reading

New consumer banking head for Citi Asia Pacific