Jun 17, 2020
Thanks to Sopra Banking Software technology, La Banque Postale launches its instant payment service in Europe
Paris, 17 June 2020 – Sopra Banking Software, global leader in banking and specialised financing software, supports La Banque Postale with its instant payment roll out. The French bank is using Sopra Banking Software’s Instant Payment solution to enable its customers to issue and receive instant payments in Euros, across the SEPA zone.
Exchange access on a European level
From November 2018, the bank’s customers can receive instant payments (IP) nationally. Today it is one of the first French banks to offer transborder instant payments and has chosen Sopra Banking Software for its solid knowledge of the banking ecosystem and its technological capacities. Thanks to Sopra Banking Software’s solution, Instant Payment, the French bank can reach European banks in real time and expand its offering IP to the entire SEPA zone, for issuing and receiving payments. This solution provides exchange access between the bank and EBA Clearing STET and RT1 CSMs (Clearing and Settlement Mechanisms). Moreover, the solution means the bank can access the European repository for member banks in real time to check customer order feasibility as soon as possible.
Transactis, a joint venture between la Banque Postale and Société Générale and the largest payments operator in France, was responsible for integrating the Sopra Banking Software’s solution. Thus, the two banks can be confident they are leveraging proven technology.
Following successful roll out of this service at Société Générale last February, this launch reinforces the trust-based relationship between teams at the bank, Transactis, and Sopra Banking Software.
The future of payments is instant
Convinced that instant payments have a promising future, Sopra Banking Software designed its solution, Instant Payment, to help banks adopt this payment means and to accelerate take-up, for both corporate and private customers. Today, nearly 50% of instant payments in France rely on Sopra Banking Software’s solutions.
Joël Saad, Executive Sponsor and Executive Vice President Retail Banking EMEA commented “There is high demand for instant payment offers among corporate and private customers because there are infinite usages. Paying your energy bill just before it is due, sharing the check for a dinner between friends, or being able to place major orders online for companies is all possible thanks for instant payment.” He went on to explain “Our solution was designed to provide banks with a simple, scalable, and robust solution, in order to enable them to address digital transformation challenges and modernise their service offering, a change called for by their customers.”
About Sopra Banking Software
With 5000 experts, a pro forma turnover 2019 of € 438,9 million and one of the deepest, broadest portfolios of software and services, Sopra Banking Software is a trusted, long-term partner of over 1500 banks and financial entities in more than 80 countries. Sopra Banking Software has an unequalled ability to address the requirements for banks and financial institutions of any size and scope, allowing them to innovate and expand their services. Sopra Banking Software is a subsidiary of the Sopra Steria Group, a European leader in consulting, digital services and software development, with more than 46 000 employees. In 2019, Sopra Steria generated a revenue of € 4,43 billion. For more information follow us on twitter @SopraBanking or visit www.soprabanking.com
Sopra Banking Software: Stéphanie DECORTIAT, +34 652 896 253, [email protected]