Volante Technologies, a US-based financial data integration tools provider, has unveiled a new single euro payments area (SEPA) Accelerator tool, to address the challenges associated with mandatory adoption of SEPA for credit transfers and direct debits.
Designed for use by corporate and banks, the new SEPA Accelerator will provide full support for all SEPA message standards that may require data integration purposes and transformation such as ISO 20022, CGI, IDOC, SWIFT FIN MT 1, 2, 9 series, EDIFACT.
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Additionally, Accelerator will support different volumes and preferred connectivity routes using SWIFTNet, SAP FSN or EBICS, while also offering the flexibility to support internal translation of legacy ACH standards and proprietary data structures out to both internal applications and external entities.
Volante said that Eurozone countries are required to comply with the new SEPA regulation from 1 February 2014 and non- Eurozone countries from 31 October 2016.
Volante Technologies EMEA vice president Fiona Hamilton, said: "We can dramatically speed up compliancy rates for all corporates and banks; from those using SAGE and Microsoft QuickBooks to those using SAP and Oracle which enables all such organization types to avoid the excessive costs of bank transformation charges.
"We understand that the on-going cost and maintenance efforts required to support evolving standards can have a major impact. To address this, we constantly develop the list of standards that we support, and provide automatic upgrade utilities to ensure the lowest possible total cost of ownership."
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