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Dutch De Volksbank chooses instant payments processor


De Volksbank has chosen equensWorldline SE to process its back office instant payments transactions on behalf of its customers. The fourth largest bank in the Netherlands will be one of the first Dutch banks to use the Software-as-a-Service (SaaS) solution from the vendor, having early selected them as their clearing and settlement mechanism (CSM).

The contract will run for five years and uses equensWorldline’s Instant Payments Back-Office Processing service, which can also handle other payment types such as non-fast SEPA payments, outside of the single euro payments area instant credit transfer (SCT Inst) scheme, as well as high-value and multi-currency payments. The modular SaaS offering complies with the European Payments Council (EPC) SCT Inst scheme rules and other relevant regulations, such as the second EU Payment Services Directive (PSD2), claims the vendors.

De Volksbank is a Dutch holding company which has four customer-facing bank brands: ASN Bank, BLG Wonen, RegioBank and SNS.

“We selected the Instant Payments Back-Office Processing service because equensWorldline offers value for money, a fast time to market and has a track record in offering demanding and critical services,” said Terry Smit, Manager of Payments & Savings at de Volksbank, in a statement. “Next to the simple and transparent price structure, we value the modular and future-proofed concept of the service. With this flexibility we can focus on items where we really can make a difference to our clients.”

According to Michael Steinbach, CEO of equensWorldline SE, commenting on the deal in the same statement, “banks are now seriously investigating the introduction of a new business and operational model for their payments processing business” due to “rapidly changing customer demands” and an “accelerating digitalization of the payments arena”.

The development of a global end-to-end real-time payments environment that is technically standardized is also a driver.


Author: Neil Ainger