TietoEnator, a Nordic-based solution and service provider to financial institutions has signed a deal with e-payments firm Sentenial. The deal enables TietoEnator to deploy Sentenial’s EuroDebit solution as a part of its total offering for Sepa (Single Euro Payments Area) direct debits to financial institutions.
These combined solutions will enable the financial institutions to handle direct debits nationally and internationally with fully Sepa compliance. EuroDebit will complement TietoEnator’s own Sepa direct debit offering. The deal precedes the need for financial institutions to implement a Sepa-compliant solution before January 2008.
EuroDebit, in combination with TietoEnator’s direct debit engine, will offer an end-to-end solution allowing financial institutions to make cost savings and to offer value added services associated with direct debit payments, the companies say.
The combined solution will be offered to financial institutions through on-site software deployment at banks or through an outsourced model which will manage the entire direct debit process requirements integrated with all other payment instruments.
The service enables better management of the direct debit processing cycle by achieving straight-through processing and comprehensive reporting. It also enables an effective risk management strategy through trend identification, automated exception handling and customer risk profiling.
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