Microsoft and La Caixa Collaborate on SEPA, Set to Go Live in Six Months
ROME, June 4 / / -
- Payments system based BizTalk Server will help Spanish banking group to comply with ISO20022.
Today at the EBAday 2007 conference Microsoft Corp announced that, following a competitive proof-of-concept stage, La Caixa d'Estalvis y Pensions de Barcelona (La Caixa), the third largest financial group in Spain, has chosen Microsoft(R) technology as the foundation of its new payments system to support its Single Euro Payments Area (SEPA) and SWIFT InterAct and FileAct messaging services.
La Caixa's new payments system will help manage SEPA payments validation, enrichment, transformation and routing to the appropriate clearing house. La Caixa will work with the clearing house of Euro Banking Association (EBA), the pan-European automated clearing house (PE-ACH) and Iberpay, the Spanish clearing and settlement mechanism (CSM). Expected to go live the last quarter of 2007, the system will fully support SEPA Credit Transfers and SEPA Direct Debits when available.
Based on Microsoft BizTalk(R) Server and BizTalk Accelerator for SWIFT, La Caixa's system will provide a stable infrastructure to integrate its mainframe and Windows(R) services using different messaging systems. The existing infrastructure will become more agile and capable of deploying new products and services. It will form the foundation for FIN, FileAct and InterAct traffic messaging services and will also enable the bank to benefit from new SWIFTSolutions such as SWIFTNet Funds, Trade Services Utility, Cash Reporting and Exceptions and Investigations services.
Andreu Purroy, IT manager of clearing, settlement and Swift systems of La Caixa said, "We wanted a new payments infrastructure for ISO20022 standards that could be easily integrated with our existing systems and agile enough to easily adapt any potential future modifications to SEPA formats and validations. We're confident that by deploying a flexible system based on Microsoft software our people will be able to respond quickly to regulatory changes, keeping us ahead of the competition and able to offer the highest standard of service to our customers. In the future, we will re-use the new infrastructure in other bulk payments, in order to reduce complexity."
Sheida Hadji-Ashrafi, industry manager payments, Worldwide Financial Services at Microsoft, said, "Europe is rapidly heading towards the SEPA deadline. One of the major benefits of using Microsoft technology for payments is that it's so quick to implement while still being incredibly cost-effective. We have built a very strong working relationship with the La Caixa team to ensure that it will be fully SEPA compliant well before the deadline as well as helping the bank to gain a competitive advantage in the industry."
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