Connection with OeNB extends network for SEPA payments

08-07-2009

On Monday 6 July 2009, after a period of efficient and pleasant cooperation, Equens and Oesterreichische Nationalbank (OeNB) implemented a bilateral link for exchanging SEPA Credit Transfer (SCT) payments. This new inter-CSM connectionwith OeNB is a major step in the implementation of the EACHA framework to help establish interoperability between banks and European CSMs.

Bilateral exchange of payments between CSMs enables the simple and cost-efficient exchange of SEPA payments between CSM communities and other participants (such as banks and their customers) in the payment chain.

With the connection to OeNB, Equens once more substantiates its role as a leading European player and its dedication to bring benefits to its clients. OeNB has wide reach in Austria with late cut-off times via a fast, reliable and secure route. Our clients benefit directly from our connection with OeNB in several ways. In addition to the extended reach for SCT payments in Austria, the cut-off times for the Austrian banks already within Equens' reach have improved significantly. Furthermore, they can count on same-day delivery of payments.

For Equens this is the fifth inter-CSM connection based on the EACHA Interoperability standards. Equens is already connected to ICBPI/Banca d'Italia, Iberpay (Spain), DIAS (Greece) and VOCALink. In addition to these links on mutually agreed basis Equens has a connection with EBA. This strategy enables Equens to provide full reach throughout SEPA.