10th inter-CSM agreement for Equens with Bulgarian ACH
19-09-2011
BORICA-BANKSERVICE AD, Bulgaria's national clearing house, and Equens SE recently signed a bilateral agreement for the exchange of SEPA Credit Transfer (SCT) payments. The partnership with BORICA-BANKSERVICE AD represents Equens' 10th CSM interoperability agreement.
Equens 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. The partnership is scheduled to go live before the end of this year.
This agreement, based on the Interoperability Framework of EACHA, is an important step in optimising the financial flows between Eastern and Western European countries. Michel Stuijt, General Manager of Market Management at Equens: "We truly believe in the importance of SEPA. Our SEPA transaction volumes and client demand consistently show progressive growth. Based on our strong European foothold and promising outlook, we will continue to invest in SEPA, both for inter-bank and intra-bank processing. The connection to BORICA-BANKSERVICE is an important step for us to improve our reach in Bulgaria as it offers substantial benefits for our clients with connections in Bulgaria in terms of reachability, speed and costs."
