Sentenial to power Barclays’ Pan-European SEPA Direct Debit Mandate Management Solution
Sentenial, the specialist provider of payment solutions, and Barclays announce a partnership to provide Pan-European mandate management solutions for the bank’s SEPA regulation Direct Debit corporate customers.
The service provided by Barclays will allow customers to transition easily to SEPA regulation Direct Debit, migrating away from the existing in-country domestic direct debit services across Europe as well as being able to convert and enrich legacy collection files into SEPA regulation compliant payments.
Sentenial’s award winning Origix Corporate service was chosen by Barclays following an extensive market evaluation and won out based upon the solution’s comprehensive nature, proven track record and the rapid time to market offered.
Richard Martin, Managing Director Payments & Cash Management, at Barclays Corporate said: “The Sentenial solution offers both Barclays and our customers a competitive advantage. This solution, similar to Barclays, provides wide Pan-European coverage with core functionality that has been tried and tested over many years. When selecting a vendor we had to be certain that we chose both the right product and the right partners, so Sentenial’s commitment to SEPA and impressive growth in recent years were major factors in our decision.”
The solution is based around three modules which cover the migration of legacy mandates to SEPA regulation, ongoing Mandate Management and the generation of SEPA regulation Direct Debits. A market leading eMandate capability is also being rolled out.
Sean Fitzgerald, CEO, Sentenial commented: “Sentenial is very pleased to announce this partnership with Barclays, a bank with tremendous European coverage and experience. Now that the European Parliament has voted to make 1st February 2014 the mandatory deadline for migration to SEPA regulation, it will be those banks and service providers who demonstrate the most value to their customers that will benefit from this significant market re-distribution event.”