1st SCT transaction exchanged with Borica-Bankservice

Bulgaria's national clearing house and Equens successfully exchanged its first SEPA Credit Transfer transactions (SCT). Last year both companies signed an bilateral agreement for the exchange. The partnership represents Equens' 10th CSM interoperability agreement.

The collaboration is an important step in optimising the financial flows between Eastern and Western European countries as it provides banks of both communities with a fast, cheap and low-risk method of achieving reach with the banks of the other community and enables simple and effective exchange of SEPA payments. The partnership is based on the Interoperability Framework of the European Automated Clearing House Association (EACHA).

As one of the major processors in the SEPA region, Equens offers full reach to all its clients throughout Europe. The company is currently processing SEPA transactions for banks and CSMs in sixteen European countries, and is constantly expanding its CSM community and interoperability with other CSMs across Europe and beyond.