ABN Amro selects SIA to cope with instant payments growth
SIA is providing instant payment connectivity to ABN Amro, one of the largest banks in the Netherlands, linking it to EBA Clearing’s pan-European RT1 clearing and settlement (CSM) platform.
The network infrastructure SIAnet is intended to meet the requirements of instant payments in terms of security, reliability, ease of integration with any application environment and compliance with the single euro payments area (SEPA) Instant Credit Transfer (SCT Inst) scheme, created by the European Payments Council (EPC). This is attracting more volume now in 2018, following its launch last November.
Cristina Astore, Director of SIA’s International Division, said in a statement: “The success in the ABN Amro bid further strengthens SIA’s position at international level and proves the technological capabilities of its network services solutions.”
According to Sandra Peute, business developer for SEPA payments at the Dutch bank, “ABN Amro is very pleased with the service” and operational stance of SIA and is looking forward, “with much confidence to substantial growth of instant payments in Europe.”