Deutsche Bank and Serrala have launched an API interface for SEPA instant payments.
This joint venture will support the industry’s move towards real-time treasury and enabling payments to be processed any time and near-on instantly.
The solution is part of the Serrala FS² Payments for SAP solution and will serve as the base of an end-to-end automation of payment processes. Deutsche Bank and Serrala hope it will serve as the foundation to enhance, accelerate and digitalise treasury processes and also end-to-end business workflows.
SEPA Instant Credit Transfer was developed by the European Payments Council and established a standard which meant digital payments must be executed within ten seconds or less. While this payment method has been available since 2017, it relied on proprietary bank solutions – this is the first API to allow corporates to initiate payments instantly through an SAP ERP system, they claim.
The two companies are working with clients to understand payment demands and improve the system. SEPA Instant Payment API will initially be able to capture, process and manage manual payments in SAP systems. In the future, the solution will evolve to include other payment systems.
Deutsche Bank director Thomas Stosberg said, “Combining SEPA Instant Payments with API technology creates new opportunities for our customers. Corporates benefit from an end-to-end integration of their business processes via treasury components to the bank and vice versa and receive an immediate confirmation of their payments.”
Serrala is a B2B payments processing solution developer, with services including, order to cash, procure to pay, online payments, treasury and cash visibility, data and document management and SAP treasury consulting.
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