VocaLink Launches SEPA Direct Debit Pilot

VocaLink, is launching a SEPA direct debit (SDD) pilot with BAWAG P.S.K., one of Austria's leading banks. BAWAG P.S.K. will bring the SDD business-to-business service to market by Q1 2009.

VocaLink has launched the SDD pilot to provide banks with an opportunity to test and validate a broad range of SDD services in advance of the scheme launch in November 2009.

Martin Wilson, chief commercial officer at VocaLink, commented: "We are delighted that BAWAG P.S.K. is extending its existing relationship with us. This decision illustrates the success of our SEPA services. Our SDD offering enables more than SDD compliance as it provides BAWAG P.S.K. with enhanced services such as payments capture. These services will reduce the bank's costs by capturing their clients' payments directly, removing the need for unnecessary intervention by the bank. Likewise, our mandate management services will minimise the bank's infrastructure and development costs by centralising critical mandate information on behalf of the bank and its clients. These services have been specifically designed to meet the needs of our client banks and will position BAWAG P.S.K. ahead of the market."

Joseph Laughlin, member of the management board at BAWAG P.S.K., commented, "We have been very impressed with the VocaLink SEPA Credit Transfer service and so deciding to join the SDD pilot was very easy for us. SDD will be the trigger for widespread European adoption of SEPA and our corporate customers will now get a chance to realise the benefits of SEPA early."

"Every bank will have to include SEPA-compliant offerings," adds Wilson. "These need to be supported by robust processes and systems that meet the requirements of the EPC rulebook. Our pilot provides a safe environment for testing SEPA direct debit and the migration to SDD. As such we believe it will be attractive to banks and welcomed by the EPC."

Joseph Laughlin, BAWAG P.S.K. adds, "The SDD pilot will demonstrate to our corporate customers that BAWAG PSK is ahead of the market and delivering the SEPA vision through SDD. The value added services such as payments capture, validation, mandate management, exceptions management, and debtor and creditor services will make a real impact with our customers."

RTS Realtime Increases DMA Access to Vienna

RTS Realtime Systems Group (RTS), a trading solutions provider, today announced that Raiffeisen Centrobank AG, an issuing bank in Austria, has recently expanded its services by offering Direct Market Access (DMA) to the Vienna Stock Exchange, enabling other RTS customers to access this Xetra electronic trading platform based exchange.

RTS’ RTD Connect solution is easy to deploy between RTS customers, simply requiring a “plug ‘n play interface” between two RTD servers. Until now, Raiffeisen Centrobank has been using the high-performance trading platform RTD Realtime Trading Desktop for its proprietary trading.

Günter Englhart, responsible for order routing for Raiffeisen Centrobank, said: “With this new offering, we are able to further strengthen our order routing reach, providing customers the full scope of functionality available on Xetra Vienna. Further routing destinations are available on request.”

Said Christian Zahm, Sales Manager for RTS in Frankfurt: “We are pleased to deepen our long-term relationship with Raiffeisen Centrobank and to offer a new benefit to other customers as we extend our RTD Connect Network. With this endeavor, we now have an additional partner offering connectivity to other RTS customers.”