Sentenial was founded in 2003 with its first employee joining the company in February 2004.
From the start, Sentenial provided cloud based payment management services to corporate originators’ and later to banks themselves.
SaaS is in our DNA with a focus on payment services, and especially direct debit origination. The company began to grow rapidly servicing several hundred corporate customers across Ireland and the UK.With a deep understanding of how our customers used ACH(Automatic Clearing House) Direct Debit and Credit Transfer payments, we understood from an early stage how new technologies could be used to deliver the unique and unsung benefits of ACH payments to companies. Following the announcement of SEPA and the planned creation of the ‘Payment Institution’ entity with the objective of accelerating innovation in European payments, we set out a challenging mission for Sentenial. We would use the disruptive impact of SEPA in the market to position ourselves at the centre of the ACH payments ecosystem in Europe. We would use modern technologies to build a powerful bank grade, ACH scale, SaaS processing platform, capable of transforming the service experience of companies throughout Europe. We would then become a Payment Institution and deliver these services directly to our customers.Sentenial has spent the years in the run up to SEPA building a suite of Corporate SaaS ACH Services on our Origix platform. These services are complimented by a powerful bank grade set of Bank SaaS ACH Services. These services are used by many banks in Europe including 5 of the EUs top ten banks. Up to a thousand corporate customers use our Corporate Services either directly or through our bank partners. The platform processes ACH transactions worth several billion euros every month.
Banks have for a long time controlled access to Direct Debit and Credit Transfer payment systems across Europe. With little competition and the ability to restrict access, banks have had little incentive to innovate to bring the benefits of ACH payments processing to their corporate customers. Some more innovative and service conscious banks have white labelled Sentenial’s Corporate Services. Regulatory changes now mean that Sentenial can bring the full range of services directly to companies.
As an Authorised Payment Institution regulated by the FCA in London (Nuapay), Sentenial can issue payment accounts directly to our customers. Our customers can use Sentenial’s platform to make, originate and receive payments across Europe. At Sentenial we are delighted to see our vision crystallising. Today, we are using the power of our next generation payments platform to simplify and bring the benefits of ACH payments directly to the market. We strongly believe we are entering a new phase in the evolution of payments. ACH payments are now set to radically change the way payments are made across B2B, B2C, POS and eCommerce sectors.