Sixteen of Fundtech Ltd.’s clients have gone live with Single European Payments Area (SEPA) Credit Transfers.
SEPA is a regulation mandated by the European Central Bank requiring financial institutions operating in euro-currency countries to treat domestic and cross-border payments equally. The first of these regulations, SEPA Credit Transfers, went into effect in January.
As a provider of cross-border payments systems and technology, Fundtech has one of the largest installed base of customers using systems to address the challenges of the new SEPA regulations. Fundtech has been active in the evolution of SEPA, working closely with its clients on SEPA requirements and plans, and has invested in developing robust products for SEPA Credit Transfers and SEPA Direct Debits.
“Fundtech is proud to again be at the forefront of the evolution of payments, this time with SEPA. We congratulate our clients on their successful implementations and look forward to working with them as the SEPA roll-out continues,” says Michael Sgroe, president and COO, Fundtech.