ABN Amro has contracted with Ireland-based Sentenial for the provision of a single euro payments area (Sepa)-compliant direct debit processing system.
The vendor says its EuroDebit technology will be fully integrated with Abn Amro's core payments architecture to help the bank meet mandated Sepa rule book requirements.
Sentenial says ABN Amro choose its system because it offers multi-scheme, multi-bank and multi-currency capabilities, future-proofing the bank against ongoing scheme changes, including Sepa.
"Sentenial will ensure that ABN Amro Bank meets all of its compliance obligations, while taking full advantage of the new commercial avenues which Sepa opens," says Sean Fitzgerald, CEO, Sentenial.
As well as ensuring Sepa compliance, the system provides the Dutch bank with a mandate management platform to ensure efficient processing of mandates under the new scheme rules, says the vendor.
The first stage implementation of Sepa - which aims to make cross-border payments as cheap as domestic transactions - went live with the official launch of the Sepa payment instrument for credit transfers in January.
Direct debits - the second stage of the implementation - were originally slated to go live in January but will now be introduced in 2009.