The Single Euro Payment Area (SEPA) initiative presents wide-ranging implications for banks on the European payments and cash management business, both, in terms of the products and services that they offer to their customers and their internal IT/application infrastructure for payments processing and liquidity management.

In our view, SEPA can serve as an ideal catalyst for banks to improve their payments processing infrastructure for better interoperability, scalability and flexibility including:

rationalizing multiple applications processing payments across multiple countries streamlining payment processing applications on a centralized basis allied with a centralized model for liquidity management examining and improving payment processing flows from key standpoints such as STP (straight through processing), compliance and risk management reviewing a bank’s messaging infrastructure and its plans to migrate to the ISO 20022 MX messaging formats in the longer term

i-flex solutions can offer banks consulting, delivery, and other allied services and assist in the planning and implementation of SEPA-related projects on all the above activities.

Read about i-flex solutions and SEPA.

i-flex's SEPA Testing Suite

i-flex’s SEPA Testing Suite helps financial institutions accelerate their SEPA compliance process. It evaluates the current and future payments infrastructure existing within your bank, and customizes existing test scenarios and conditions to suit your business requirements, application level details, migration strategy and process changes. Are you ready for SWIFTNet Phase 2? Listen to Sameer Deo, present on SWIFTNet Phase 2: RMA