Citi and CGI in Joint Launch of SEPA Direct Debit Service

Logica, which is now part of CGI Group, has formed a single euro payments area (SEPA) alliance with Citi through its transaction services division to provide CGI’s Logica mandate management (LMM) service to Citi’s institutional client base in Europe.

LMM complements Citi’s SEPA Direct Debit (SDD) offering, allowing clients to be ready in time for when the various domestic euro direct debit schemes across the eurozone are replaced by the schemes on 1 February 2014.

CGI’s LMM is designed to help corporate easily migrate to SDDs. It converts legacy mandates into SEPA direct debit compliant mandates and manages their full lifecycle, including collections, in line with the SEPA rule books. Archiving, scanning and printing services are integrated to ease the complexity of SEPA migration for clients. The platform is also quick and easy to connect to, meaning corporates can focus on securing strategic advantage from SEPA.

“The adoption of SEPA requirements can be a challenging process both from an operational and cost perspective” said Karin Flinspach, Europe, Middle East and Africa (EMEA) head of payments and receivables, treasury and trades, at Citi Transaction Services. “We want to help our clients navigate this complexity by offering a proven service and a seamless transition with minimal change to their existing processes and systems.

“We are confident that the CGI Logica mandate management service will help meet the demands of our clients as it provides end-to-end SEPA migration services, rapid onboarding times and proven delivery capabilities.”

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