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ABN Amro selects Sentenial for SEPA-compliant direct debit processing |
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Sentenial, Irish supplier of total direct debit processing services, has been contracted by Dutch financial services group ABN Amro Bank to deliver a fully SEPA compliant direct debit processing system.
The Sentenial EuroDebit service will be fully integrated with ABN Amro’s core payments architecture to help the bank meet European Direct Debit processing requirements. Using EuroDebit, ABN Amro Bank will have the ability to rationalise a number of legacy and in-house Direct Debit systems and ensure the group’s scheme rule compliance while achieving high STP levels and exception automation. On top of the SEPA compliance, the EuroDebit service will provide ABN with a proven Mandate Management platform to ensure the processing of mandates under the new scheme rules. Direct debits, the second stage of the SEPA implementation, will go live in 2009. The first stage implementation of SEPA, which aims to remove cross-border barriers and lower costs for non-cash euro payments to the level of domestic transfers, was launched in January 2008. |
