DION CONFIRMS EBA MEMBERSHIP AS SEPA DEADLINE LOOMS

Dion Global Solutions (BSE:526927), technology partner to the financial services industry, announced its official membership with the Euro Banking Association (EBA). The membership means Dion has access and can contribute to practical information as well as research and analysis related to the Single Euro Payments Area (SEPA), a European Union initiative geared at making payments across Europe more efficient through uniform standards and practices.

The announcement follows the publication by the EBA of in-depth information on the SEPA migration progress and plans in the different European communities ahead of the migration deadline in August 2014. In June, the EBA also issued a report focusing on user requirements for future payment services built, among others, on the SEPA instruments.    Dion provides SEPA Gateway payment technologies for the processing of SEPA Credit Transfers and Direct Debit payments.

Dirk Vesper, Vice President Product Management at Dion said: “As the migration deadline draws ever closer, the clearing of SEPA payments takes on even greater significance for banks. Our SEPA platform provides a complete offering, helping existing and future clients to seamlessly complete their move to SEPA compliance. And our EBA membership supports us in our wider exchange with banks and other industry players on the further evolution of SEPA and its impact on our offering and on the processes of our clients.”

Katja Heyder, Marketing Coordinator, EBA Group, added: “The challenges facing the European payments sector can be overcome more easily through a joint analysis and an active exchange on possible solution approaches. The EBA offers banks and service providers a platform for this exchange and the development of collective solutions. We are pleased that Dion Global Solutions GmbH contributes to this forum as an associate member and thereby helps to shape the future of the payments sector together with players from all across Europe.”

Part of the EBA community, Dion’s SEPA Gateway technology simplifies SEPA migration projects for banks. It reduces the complexity of the EPC rulebook implementation without the need to undergo major transformation of the existing back office application landscape.