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November 29, 2018

De Volksbank picks equensWorldline as multi-currency payments processor

Dutch lender De Volksbank has chosen equensWorldline, part of payment services provider Worldline, to process multi-currency payments.

With its multi-currency payments service, the bank aims to process non-euro currency payments of its customers in an efficient manner.

The service forms part of Back-Office Processing product offering of equensWorldline, which also manages other payment types such as instant payments and SEPA. The portfolio is compliant with European Payments Council and PSD2 standards.

equensWorldline CEO Michael Steinbach said: “Outsourcing parts of their payments business will lower de Volksbank’s complexity and costs and will allow them to focus on the front-end, where they can differentiate themselves and strengthen the relation with their customers.”

Last year, the Dutch bank signed a five-year contract with equensWorldline for instant payments processing.

The move to outsource back-office payments processing is said to be driven by changing customer preferences and rapid digitalisation of payments.

De Volksbank manager of payments and savings Terry Smit said: “Last year, we started a programme with equensWorldline for the instant payments back-office engine accompanied with clearing and settlement, as a first step for us to outsource parts of the payments processing chain.

“The successful instant payment programme is for us extra proof that we chose the right partner and therefore it was not a difficult choice to select equensWorldline’s Multi-Currency Payments service as a natural follow-up.”

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