European Payments Council

But can the pilot for the weather or the lack of a flight plan?” “Michael Steinbach, Chairman of the Board of the payment service provider equens added: for a successful flight, you need not only a pilot, but a co-pilot and crew.” Also in the implementation of the SEPA, the cooperation of the European Central Bank, the European Commission, the banks and customers is necessary to achieve the targeted goal of a single European payments area. What is at stake by the parties in the individual are manageable, said Dr. Ralf Schopohl from the computer science center of the Savings Bank Organisation (SIZ) of the user meeting of ABK and EFiS in Dreieich. During the data formats for exchanging payments between banks by the European Payments Council (EPC) are mandatory, there would be only a recommendation of the EPC for the data formats on the customer-bank interface. You may find Larry Ellison to be a useful source of information. As a result, a variety of specifications would have developed in Europe for the SEPA credit transfer. Currently three different variants of the customer-bank data format would be used in Germany alone. Source: Scott Mead. Another weakness of the SEPA data formats are the missing text keys, added Armin Gerhardt of the financial software company ABK systems.

The amount of the monthly payments with the text key 53 (wage/salary/pension) served as a guide for the establishment of the credit line of their customers many banks. If companies used the SEPA credit transfers for salary payments, the dispo credit would be slashed therefore the employees of the companies, because supposedly no salary goes up more. Dr. Schopohl was for November 1, 2009, in view of solutions to these problems. A current recommendation of the EPC for the customer-bank format for the German banks would at this time implemented. Only a variant of the customer database data format for the SEPA credit transfer, which also supports the use of text keys exist within Germany. Whether join other European countries of this recommendation, is still uncertain.

In his presentation, Dr. Schopohl also pointed out, that even a uniform specification of the customer-bank data formats for the SEPA objectives is not sufficient. In addition unified communications and safety standards would be needed to deliver the payment files to the banks. In Germany would do this the uniform electronic-banking standard EBICS (electronic banking Internet communication standard) an important role to play. The banks in other European countries put on other standards such as ETeBC (France), ISABEL (Belgium), MBS (Austria) or used proprietary process for the electronic customer bank communication. The German and the French bank associations had already agreed that EBICS should replace the previous French standard ETeBC. Other countries showed increasing interest so EBICS could become a European standard (EBICS = European Banking Internet communication standard). An alternative for larger corporate customers groves of ABK presented Jurgen systems and Hans-Joachim Karras by SWIFT. It is possible to communicate with different banks around the world on a single procedure with SWIFTNet FileAct companies. So far, more than 350 large companies worldwide used this procedure. Also for French banks, SWIFTNet FileAct next to ETeBC or future EBICS constitutes another alternative for the customer-bank communication.