Commerzbank Powers Payments Growth with PTS/BULK Solution
- Globalize payments transaction business
- Comply with new European regulations
- Upgrade payments and transaction technology with CSC’s SEPA-compliant PTS application
- Opened new market opportunities
- Reduced manual workflow
- Increased efficiency and cost savings
Commerzbank is poised to grow its payments transactions business across Europe, using CSC’s PTS/BULK system to develop customized, value-added services for its corporate customers. PTS/BULK 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/BULK 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/BULK customer bank module.
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.