Commerzbank Powers Payments Growth with a Pan-European PTS/SEPA Solution

Client: Commerzbank

Challenge: Globalize payments transaction business while complying with new European regulations

Solution: Upgrade the payments and transaction technology platform with CSC’s SEPA-compliant PTS application

Results: Commerzbank’s SEPA readiness has opened new market opportunities. CSC’s PTS decreased manual workflow which increased efficiency and cost savings.

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Commerzbank is poised to grow its payments transactions business across Europe, using CSC’s PTS/SEPA system to develop customized, value-added services for its corporate customers. PTS/SEPA enables the bank to comply with Single Euro Payments Area (SEPA) regulatory requirements — a key step for Commerzbank’s global ambitions. Jointly developed with CSC, PTS/SEPA is to be implemented by Commerzbank across its European payments ‘factory’ network.

Improved Services and Efficiency

The bank believes its success is firmly based on the quality of its services to customers. It is particularly proud of its services to promote effective payments transaction management: up-to-date information, reliable planning tools and efficient control instruments.

CSC’s expertise in global payments, and its ability to support and maintain the system across Europe, were the major reasons the bank chose PTS to improve payments services in the mid 1990s. PTS delivered enhanced support and more efficiency through high rates of straight through processing.

Massive Payments Opportunity

When Europe’s financial industry committed to the creation of a Single Euro Payments Area (SEPA) and standardized processes for Euro payments throughout Europe, Commerzbank saw a massive opportunity to develop its corporate payments business. Success with PTS encouraged the bank’s management to work with CSC to develop a new PTS/SEPA customer bank module.

Work began in early 2007, and the bank, after testing the PTS/SEPA software and its interfaces with existing systems in Europe, has been live since the launch of SEPA on January 28, 2008. The plan is to implement PTS/SEPA in Central and Eastern Europe by the end of 2009.

Ready to Take Advantage of SEPA

Readiness for SEPA means the bank can offer corporate customers early SEPA direct debit support — the first transnational debit procedure, available by accessing the bank’s own sophisticated technical interface. As well as SEPA credit transfer, which does not differ substantially from the European Union standard transfer introduced in 2003, the bank will also offer SEPA cards framework conformance, allowing card owners to use their cards throughout the payments area. Commerzbank can assure merchants there will be no technical or processing difficulties in the acceptance of SEPA-conformant cards.