KBC Bank selects Sentenial SEPA solutions for business clients
KBC Bank has partnered with payment specialist Sentenial to offer the latter’s Origix Corporate payment management solution to the bank’s business clients. The service will allow businesses to switch to the SEPA direct debit scheme with minimal change to their existing processes.
“KBC has developed various payment solutions to support our clients in their migration from a national direct debit model to a SEPA model. Our dedicated support team and solutions facilitate our clients’ transition to direct debits and their success can be illustrated by the substantial number of clients that have already been migrated,” said Ivo De Meersman, general manager, payments & cards, KBC. “However, to fulfil the specific needs of our corporate clients within various size categories from SME to multi-national corporation, we sought an additional dedicated solution. To complete our full-service SEPA offering in response to demand from our corporate clients, we have joined forces with Sentenial.”
KBC’s “initiative in this area shows a great commitment to supporting and assisting its clients as they embark on their SEPA migration, said Sean Fitzgerald, chief executive of Sentenial. “With the SEPA end date 10 months away, it is important that the market understands the implications of not being SEPA compliant and the direct impacts on cash flow and payment transactions – KBC’s proactive response is a positive step towards Belgium’s migration to SEPA.”
SEPA payments will replace existing payments for all euro-area businesses by February next year, and offer benefits such as the ability to have customers across the entire euro area pay by direct debit. The Origix Corporate solution allows users to initiate SEPA payments using domestic formats, such as the Belgian DOM80. It includes three modules that cover the migration of domestic mandates into SEPA format, on-going mandate management and the generation of SEPA Direct Debits and SEPA Credit Transfers.