equensWorldline will process Degussa Bank’s Payments

equensWorldline SE will process all payments of Degussa Bank AG, Germany, starting Q2-2017. The long-term contract constitutes a significant achievement for equensWorldline.

Degussa Bank AG faced the challenge to modernize its payments processing infrastructure and after careful consideration decided to outsource their end-to-end payments processing to equensWorldline SE. This includes SEPA processing, cross-border payments, high value payments, compliances services, investigations, archiving and additionally a full channel service suite including SWIFT service bureau, corporate access and paper based payments. Degussa Bank will make use of equensWorldline’s payments processing back office platform that provides a wide range of real-time monitoring and processing functionality and is the enabler for future services like instant payments.

equensWorldline SE is taking over the end-to-end responsibility for the payments operations. Service-level agreements and detailed reporting enable Degussa Bank’s supplier management a close monitoring of the services while oversight from the European Banking Authority through the Dutch National Bank ensures all banking industry compliance standards are met.

equensWorldline SE provides cost-efficient processing through economies of scale, implements all future regulatory requirements (e.g. PSDII, EPC rulebooks, TARGET2 migration to XML) and is the single point of contact. As a result of these efficiencies, Degussa Bank reduces cost, investment risk and operational complexity. One of the major reasons for Degussa Bank to choose equensWorldline as a partner is the company’s unique, full end-to-end future-proof product and service offering including Instant Payments, peer-to-peer and mobile payments, that makes Degussa Bank ready for the digital transformation of the financial industry.

Michael Steinbach, CEO equensWorldline SE, said: “We are very happy that Degussa Bank transfers their entire payments operations to us with a multi-year contract. Payments are as vital for banks as they are challenging – the field is highly complex and dynamic. equensWorldline is supporting Degussa Bank to face these challenges and to seize the growth potential of payments with our pan-European and global expertise, experience and a unique product and service portfolio that covers payments, cards and the digital banking value chain end-to-end.”

Jürgen Eckert, Chairman of the Board of Directors, Degussa Bank AG, said: “The complexity of the payments business is rapidly increasing. Growing regulatory requirements and new market developments like Instant payments place a major challenge for traditional financial institutions. Partnering with a specialized provider like equensWorldline that continuously updates its infrastructure to meet the regulatory requirements and constantly innovates enables us to strengthen our business with new services like instant or peer-to-peer payments. Working with a single provider that covers the entire payments value chain enables us to reduce costs and complexity significantly –direct communication, quick response times and optimized provider management are among the benefits.”

Author: Dylan Jones

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