Royal Bank of Scotland (RBS) has chosen IT and business process services provider CGI Group, to deliver a ‘one-stop-shop’ for its single euro payments area (SEPA) migration.
CGI will roll out a SEPA fallback solution at RBS in collaboration with IT company PowertoPay which provides comprehensive solutions in the field of payment services. This programme will address RBS European business customers as part of the RBS SEPA accelerator initiative, the company’s fast solution for corporate SEPA compliance.
CGI said that its SEPA Services’ one-stop-shop will provide RBS corporate customers with a rapid SEPA compliance option that does not jeopardise operations. With this conversion solution, CGI will ensure that payments and collections will be converted into the format required for SEPA, enabling reporting and exchanging SEPA data with banks to be fully automated and all transfers to fully comply with the new requirements before the deadline of 1 February 2014.
As part of the transaction, CGI’s SEPA Service will also be offered to all RBS and Ulster Bank clients. CGI provides two key services as part of this solution: mandate management and conversions for the migration to SEPA. Implementation and ‘onboarding’ for clients is also part of the services being provided.
Despite being behind the likes of Europe and China, the US payments industry is now rapidly advancing, said Anish Kapoor, CEO of AccessPay told GTNews in an exclusive interview.
Treasurers are more interested in cross-border payments and automation than real-time payments, as they are consistently asked to do more with less, argues Rick Burke, head of corporate payments at TD Bank in an exclusive interview.
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