Deutsche Bundesbank and Equens have begun exchanging SEPA Payments

Deutsche Bundesbank and Equens have successfully exchanged their first SEPA Credit Transfer (SCT). In order to do so, the companies bilaterally linked their Clearing and Settlement Mechanisms (CSMs). The interoperability between Deutsche Bundesbank and Equens 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. In preparation of this cooperation Equens CSM did receive an indication as meant under the EC Directive 98/26/EC for SEPA payments, also known as the Settlement Finality Directive.

Equens has now 10 inter-CSM agreements and is constantly expanding their CSM community and interoperability with other CSMs across Europe and beyond. The connection to Deutsche Bundesbank is an important step for Equens in further increasing the quality of their full SEPA reach proposition. Equens is very pleased that the efforts on both sides have now been rewarded.