EBA Clearing and Seceti co-operate on establishing STEP2 link

A provider of euro clearing services, EBA Clearing, and Seceti have announced their cooperation on establishing a link to the SEPA credit transfer service on the STEP2 platform. This link will allow financial institutions that are participating in the Seceti system to exchange SEPA payments with banks in 31 European countries.

Both the companies plan to have the link in place for the start of Single Euro Payments Area (SEPA) on January 28, 2008. Financial institutions using this link will have the choice to either settle their obligations themselves or to appoint another bank as their settlement bank.

Giuseppe Capponcelli, general manager of Seceti, said: Seceti’s cooperation with EBA Clearing will provide our users with an efficient solution for sending and receiving SEPA payments to and from financial institutions in the Single Euro Payments Area. Since their connection to STEP2 will be established

and hosted by Seceti, our institutions do not have to face any major changes or

disruptions at the start of SEPA, as they can send all their payments through one single channel.

Gilbert Lichter, CEO of EBA Clearing, added: EBA Clearing looks forward to the cooperation with Seceti and its user institutions. We are very pleased to establish interoperability with an important player in the Italian payment infrastructure market and to provide our communities with reach throughout SEPA.

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