EquensWorldline Proceeds All Payments Through Degussa Bank

EquensWorldline Proceeds All Payments Through Degussa Bank
14.03.2017 10:15 am

EquensWorldline Proceeds All Payments Through Degussa Bank

Payments , Banking

EquensWorldline SE, subsidiary of Worldline, European leader in the payments and transactional services industry, will process all payments of Degussa Bank AG, Germany, starting Q2-2017.

The long-term contract constitutes a significant achievement for equensWorldline.

Degussa Bank AG faced the challenge to modernize its payments processing infrastructure and after careful consideration decided to outsource their end-to-end payments processing to equensWorldline SE. This includes SEPA processing, cross-border payments, high value payments, compliances services, investigations, archiving and additionally a full channel service suite including SWIFT service bureau, corporate access and paper based payments. Degussa Bank will make use of equensWorldline’s payments processing back office platform that provides a wide range of real-time monitoring and processing functionality and is the enabler for future services like instant payments.

equensWorldline SE is taking over the end-to-end responsibility for the payments operations. Service-level agreements and detailed reporting enable Degussa Bank’s supplier management a close monitoring of the services while oversight from the European Banking Authority through the Dutch National Bank ensures all banking industry compliance standards are met.

equensWorldline SE provides cost-efficient processing through economies of scale, implements all future regulatory requirements (e.g. PSDII, EPC rulebooks, TARGET2 migration to XML) and is the single point of contact. As a result of these efficiencies, Degussa Bank reduces cost, investment risk and operational complexity. One of the major reasons for Degussa Bank to choose equensWorldline as a partner is the company’s unique, full end-to-end future-proof product and service offering including Instant Payments, peer-to-peer and mobile payments, that makes Degussa Bank ready for the digital transformation of the financial industry.

Michael Steinbach, CEO equensWorldline SE, said: “We are very happy that Degussa Bank transfers their entire payments operations to us with a multi-year contract. Payments are as vital for banks as they are challenging - the field is highly complex and dynamic. equensWorldline is supporting Degussa Bank to face these challenges and to seize the growth potential of payments with our pan-European and global expertise, experience and a unique product and service portfolio that covers payments, cards and the digital banking value chain end-to-end.”

Jürgen Eckert, Chairman of the Board of Directors, Degussa Bank AG, said: “The complexity of the payments business is rapidly increasing. Growing regulatory requirements and new market developments like Instant payments place a major challenge for traditional financial institutions. Partnering with a specialized provider like equensWorldline that continuously updates its infrastructure to meet the regulatory requirements and constantly innovates enables us to strengthen our business with new services like instant or peer-to-peer payments. Working with a single provider that covers the entire payments value chain enables us to reduce costs and complexity significantly - direct communication, quick response times and optimized provider management are among the benefits.”

Related News

Finzly Wins “Best Enterprise Payments Solution” and “Best of Show” at FinovateFall 2020

Finzly, a fintech provider of modern banking applications for foreign exchange, trade finance,... Read more »

Universal Digital Lending Platform by Nets and OpenWay Recognized as “Best Consumer Payments Initiative”

Nets, one of Europe’s leading processors, and OpenWay, a top-ranked digital payments software provider, have won the “Best Consumer Payments... Read more »

Finastra to Drive Financial Inclusion Worldwide

Finastra has announced plans around a range of initiatives which will enable its customers to... Read more »

Anglian Water Launches its Digital Transformation with Bottomline

Bottomline (NASDAQ:EPAY), a leading provider of financial technology that makes business payments simple, smart and secure, today announced Anglian Water’s... Read more »

Paymentology Partners With Intercash to Enter Latin American Market

UK cloud-native payment processor Paymentology has extended its global footprint into the Latin America and Caribbean regions as it announces a partnership... Read more »

FSS and Everlink to Drive Card Payments Growth in Canada

FSS (Financial Software and Systems), a global payments technology company, announced today that Canada’s Everlink Payment Services Inc., a... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel