equensWorldline will process Degussa Bank’s Payments

equensWorldline SE will process all payments of Degussa Bank AG, Germany, starting Q2-2017. The long-term contract constitutes a significant achievement for equensWorldline.

Degussa Bank AG faced the challenge to modernize its payments processing infrastructure and after careful consideration decided to outsource their end-to-end payments processing to equensWorldline SE. This includes SEPA processing, cross-border payments, high value payments, compliances services, investigations, archiving and additionally a full channel service suite including SWIFT service bureau, corporate access and paper based payments. Degussa Bank will make use of equensWorldline’s payments processing back office platform that provides a wide range of real-time monitoring and processing functionality and is the enabler for future services like instant payments.

equensWorldline SE is taking over the end-to-end responsibility for the payments operations. Service-level agreements and detailed reporting enable Degussa Bank’s supplier management a close monitoring of the services while oversight from the European Banking Authority through the Dutch National Bank ensures all banking industry compliance standards are met.

equensWorldline SE provides cost-efficient processing through economies of scale, implements all future regulatory requirements (e.g. PSDII, EPC rulebooks, TARGET2 migration to XML) and is the single point of contact. As a result of these efficiencies, Degussa Bank reduces cost, investment risk and operational complexity. One of the major reasons for Degussa Bank to choose equensWorldline as a partner is the company’s unique, full end-to-end future-proof product and service offering including Instant Payments, peer-to-peer and mobile payments, that makes Degussa Bank ready for the digital transformation of the financial industry.

Michael Steinbach, CEO equensWorldline SE, said: “We are very happy that Degussa Bank transfers their entire payments operations to us with a multi-year contract. Payments are as vital for banks as they are challenging – the field is highly complex and dynamic. equensWorldline is supporting Degussa Bank to face these challenges and to seize the growth potential of payments with our pan-European and global expertise, experience and a unique product and service portfolio that covers payments, cards and the digital banking value chain end-to-end.”

Jürgen Eckert, Chairman of the Board of Directors, Degussa Bank AG, said: “The complexity of the payments business is rapidly increasing. Growing regulatory requirements and new market developments like Instant payments place a major challenge for traditional financial institutions. Partnering with a specialized provider like equensWorldline that continuously updates its infrastructure to meet the regulatory requirements and constantly innovates enables us to strengthen our business with new services like instant or peer-to-peer payments. Working with a single provider that covers the entire payments value chain enables us to reduce costs and complexity significantly –direct communication, quick response times and optimized provider management are among the benefits.”