Societe Generale has teamed up with financial services technology provider FIS to enable instant payments for corporate clients in Europe.
The bank will leverage the SEPA Instant Credit Transfer (SCT Inst) scheme, a European Payments Council initiative to expedite payments.
Go deeper with GlobalData
Societe Generale will use FIS Payments-as-a-Service (PaaS) solution to serve its corporate clients through the SCT Inst scheme. The FIS PaaS solution will be made available in nine European countries, expect France.
The FIS offering is offered as a turnkey, managed solution, enabling financial institutions to connect to the SCT Inst scheme cost effectively.
Additionally, it complies with the ISO20022 international payments standard and other regulatory requirements.
Societe Generale head of Payments & Cash Management Solutions Nicolas Cailly said: “Our corporate clients are hungry for the speed, flexibility and improved liquidity enabled by real-time payments.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“The FIS Payments-as-a-Service solution provided a proven, cost-effective platform for us to move to real-time payments and provide the benefits of the SCT Inst scheme to our clients across Europe.”
FIS Banking Solutions president Bruce Lowthers said: “By choosing a managed solution from FIS, leading organisations like Societe Generale can move more quickly to the future of payments, benefitting their customers and their own competitive edge.”
Headquartered in Florida, FIS provides technology solutions for merchants, banks and capital markets firms. Last month, the company completed the acquisition of UK-based payment processor Worldpay for nearly $43bn.
