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SEPA Converter for banks

The European Payments Council initiated the creation of the Single European Payments Area (SEPA) to ensure the same rules for cashless payment transactions, direct debits and card transactions carried out in euro currency. Into the SEPA project will be integrated all the countries of the EU, the European Economic Area and Switzerland. States of the monetary union are part of the SEPA since 1st February 2014, Czech Republic and other countries outside the monetary union will join SEPA on 31st October 2016.



SEPA CREDIT TRANSFER – CONVERTER FOR BANKS

This solution is designed for banks which want to include SEPA payments into their offer with minimal changes
in the current information systems.  

The solution enables to transform:
• outgoing payments from an existing format into the SEPA XML format
• incoming SEPA XML payments into an existing format

The data conversion is performed automatically. Thanks to its own web interface it may be also performed 
manually.
 
 

SEPA CREDIT TRANSFER – CONVERTER FOR CORPORATIONS

This solution is designed for corporate clients and is used for the conversion of mass payments into 
the SEPA XML format (e.g. the received invoices, the wages for employees etc.)

The data contained in the corporate client´s ERP system are converted from an existing format into 
the SEPA XML format and then transferred to the internet banking for the processing.

 

SEPA DIRECT DEBIT – CONVERTER FOR BANKS AND THE ADMINISTRATION 
OF DEBITS MANDATES

This type of converter is designed for banks which already have a debit solution in the domestic currency 
and want to customize it for the SEPA Direct Debit scheme before their countries will accept the euro currency.

The solution includes a module for the administration of debit mandates, which can be used as a standalone 
application or integrated into an existing user interface.

The solution allows:
• to keep the records of debit mandates
• to convert the emitted debits from an existing format into the SEPA XML format
• to convert the received debits from the SEPA XML format into an existing format

The debit mandates are stored in the module own database. The clearing of debit orders takes place 
in an existing banking system according to the standards for SEPA Direct Debit.

Data conversion is performed automatically but the modul own web interface allows to do it manually also.

 

SEPA DIRECT DEBIT – THE COMPREHENSIVE SOLUTION FOR BANKS

The module covers the whole agenda of SEPA Direct Debit and it is independent on  the solution for debits 
in domestic currency.  It can be integrated into the frontend of the current banking system as a standalone application.

The solution includes:
• the administration of debit mandates
• the processing and the clearing of the emitted debits
• the administration and the processing of the received debits
• manual or automatic processing of cancelled transactions

The module has two web interfaces – one for the clients, the other one for the bank staff. It allows you to
enter one-off and permanent debit orders, both manually and by importing into the XML file. The data output 
is forwarded to the appropriate payment channel.

At the date when the debit transaction needs to be done, the module automatically generates an accounting 
request into the main banking system. All mandates and emitted/received debits are stored in the module own 
database. Every performed transaction is recorded.

 

References

Download

Download the SEPA flyer.