The main reason for choosing OPF is that the new solution also supports EMEA Transaction Services, said the bank.
The implementation of new solution will leverage RBS Groups’ Payment Services Hub to support and service SEPA credit transfer and direct debit processing for entire UK, Ireland and International Banking clients, claims RBS.
RBS states product management global head Kevin Brown said ultimately, the firm has picked Clear2Pay based on the strength of their solution design & delivery ethic; their proven execution track record and quality of references across Financial Institutions (FI) and Clearing and Settlement Mechanism (CSM) users for SEPA processing, in addition to the international payments hub.
"Their solution suite, coupled with their clear global development agenda, ensures RBS’s agility and cost-effectiveness in ensuring enhanced STP for our clients; meeting regulatory and new market requirements, including real time clearing solutions and mobile banking & payments," Brown commented.
Commenting on the new partnership with RBS, Clear2Pay chairman & chief executive officer Michel Akkermans said the firm is pleased to establish a strategic partnership with RBC, to deploy OPF, pre-fitted with e2e SEPA processing, reporting & analytics tool.
"With the SEPA end date nearing at a rapid pace, we expect more banks to embrace industry standard solutions to ensure both a rapid deployment as well as control over the payments services proposition, which sits at the heart of the customer relationship," Akkermans said.
