Major global transaction services bank opts for a payment services hub
BRUSSELS & AMSTERDAM -- (BUSINESS WIRE) --
Clear2Pay, the international technology provider of next generation payment solutions for financial institutions, clearing and settlement companies and corporates announces that Royal Bank of Scotland (RBS) has selected its Open Payment Framework (OPF) as the technology of choice to power its payments services hub for SEPA. This includes more than 18 RBS branches and its chosen FI clients and partner banks.
OPF is the technology of choice to power RBS's payment services hub supporting EMEA Transaction Services. RBS Groups' Payment Services Hub will support and service SEPA credit transfer and direct debit processing for all UK, Ireland and International Banking clients.
Kevin Brown, Global Head of Product Management at RBS states "Ultimately, we have chosen Clear2Pay based on the strength of their solution design & delivery ethic; their proven execution track record and quality of references across Financial Institutions (FI) and Clearing and Settlement Mechanism (CSM) users for SEPA processing, in addition to the international payments hub. Their solution suite, coupled with their clear global development agenda, ensures RBS's agility and cost-effectiveness in ensuring enhanced STP for our clients; meeting regulatory and new market requirements, including real time clearing solutions and mobile banking & payments."
Michel Akkermans, Chairman & Chief Executive Officer at Clear2Pay adds: "We are tremendously honored that RBS, as one of the largest global transaction services providers, has selected us as a strategic partner to deploy our OPF, pre-fitted with e2e SEPA processing, reporting & analytics. With the SEPA end date nearing at a rapid pace, we expect more banks to embrace industry standard solutions to ensure both a rapid deployment as well as control over the payments services proposition, which sits at the heart of the customer relationship."
The strategic partnership between Clear2Pay and RBS is a key stepping stone towards the development of future architecture and global payment hub capabilities beyond SEPA.
About RBS
RBS Markets & International Banking (M&IB) is a leading banking partner to major corporations, financial institutions, government and public sector clients around the world. M&IB provides an extensive range of products and services in debt financing, global markets, risk management, investor products, financial advisory and transaction services. The division focuses on long-term client relationships and excellence in product execution underpinned by global insight, local knowledge and a prudent and sustainable banking model to meet the evolving market and regulatory backdrop. Committed to serving clients' needs internationally, M&IB has on-the-ground operations in 38 countries.
About Clear2Pay
Clear2Pay is apayments modernisation company that actively supports many global financial institutions to meet their payments unification goals through its pure SOA Open Payment Framework (OPF). Headquartered in Brussels, Belgium, the company facilitates banks and financial organisations in their provision of payments services, whether they be Card, ACH, Branch, Bulk, High Care or International payment transactions. Clear2Pay's innovative technology helps to reduce transactions processing costs, and to deliver new, compelling payment services in a competitive way. Functions embrace payments origination, reporting, linkage with back-office processing systems, clearing, netting and settlement. In addition the company offers a range of value added payment technology solutions and services such as e-Banking, Open Test Solutions, Open Card Solutions, ChargeBack, Strategic Consultancy and Payments Training through a dedicated Academy. Clients include global and major regional financial institutions such as ING, Banco Santander, Crédit Agricole, BNP Paribas, The Federal Reserve, NETS (Denmark), The People Bank of China (PBOC), Bank of East Asia, Rabobank, The Co-operative Financial Services and Commonwealth Bank. Clear2Pay operates out of 21 offices in 11 countries and currently employs over 1000 staff. Recently, the company was awarded the XCelent Customer Base 2010 award for its undisputed largest payment hub customer base, both live and under implementation and ranks 81st in the Global FinTech100 list.. For more information, please visit www.clear2pay.com.
CONTACT:
Clear2Pay NV/SA
Conny Dorrestijn - VP Corporate Marketing and Analyst Relations
Email: conny.dorrestijn@clear2pay.com
M: +31 651 067201
or
Royal Bank of Scotland (RBS)
Aoife Reynolds - Senior Media Relations Manager
Email : aoife.reynolds@rbs.com
Tel : +44 3361 1588