Crédit Agricole CIB has teamed up with data
analytics firm Experian as corporate demand for meeting SEPA data
requirements increases thanks to the initiative’s deadlines looming
ever closer.
Under the agreement Crédit Agricole CIB, the
corporate and investment banking arm of the Crédit Agricole Group,
will provide its corporate banking customers with Experian’s global
payment validation and automated data conversion tools.
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Customers of Crédit Agricole CIB that choose
Experian’s services will be able to validate and convert their
existing payment records to the required IBAN and BIC formats
across the SEPA region.
“Experian’s agreement with Crédit Agricole CIB
highlights growing demand from corporate banking customers for
support in meeting SEPA data requirements prior to the anticipated
deadlines of 2013 for SEPA Credit Transfers and 2014 for SEPA
Direct Debits,” said Jonathan Williams, director of strategic
development at Experian Payments.
“Validation and conversion of bank account
data for new and existing payments is crucial to ensuring that SEPA
is implemented smoothly and at minimum cost to the bank, its
corporate customers and their clients and suppliers.”
It is claimed Crédit Agricole CIB customers
can lower their payments costs by moving to SEPA payments and
reduce delays associated with reprocessing failed payments using
Experian’s data tools.
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