Slovakia’s Largest Commercial Bank Makes Full SEPA Migration

 

Slovenská sporite??a, Slovakia’s largest commercial bank, has begun processing single euro payments area (SEPA) transactions with Dion Global Solutions’ SEPA Gateway technology. The bank also migrated direct debit payments to the platform from 1 February 2014.

Slovenská sporite??a can now fully automate payments and direct debits in line with SEPA, the EU initiative aimed at simplifying bank transfers across euro currency nations. The Erste Group-owned bank, which processes the highest volume of retail transactions across Slovakia, is using the technology to help manage high transaction volumes in preparation for SEPA’s deadline for payment transfers, recently extended to 1 August 2014.

“No bank can afford to rest on its laurels when it comes to the clearing and processing of SEPA payments, despite the recent deadline extension providing extra breathing space,” said Petr Brávek, chief operating officer (COO) of Slovenská sporite??a.  

Dion has been clearing SEPA payments via the technology since July 2013. Dirk Vesper, vice president of product management for Dion noted that Slovenská sporite??a will hit its compliance targets way in advance of the new deadline. “Our SEPA Gateway technology simplifies migration projects for banks, reducing complexity without the need to make changes to existing business operations,” he said.

4 views

Related reading

hanjin-shipping
donald-trump
job
New consumer banking head for Citi Asia Pacific