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VocaLink partners with ABN AMRO for SEPA clearing services
Several leading European banks use VocaLink's service to secure later cut-off and earlier delivery of payments to key destinations where VocaLink has bespoke arrangements. This enables banks to compete more effectively for corporate payments business, allowing treasurers to conduct business more efficiently and improve their liquidity Superiority in SEPA services is beginning to emerge as a competitive factor for corporate payments banking business. Corporates, particularly those trading primarily with other businesses, increasingly recognise the value of managing their business from a single account. Banks using VocaLink as their clearing partner stand out because they can accept payment instructions later in the day and/or deliver them more quickly.
Maarten Mol, Chief Operating Officer at ABN AMRO, comments: "Our partnership with VocaLink will provide banks and their customers with greater flexibility in submitting payments. Ultimately, this allows corporate treasurers to do more business and grow their business long-term. In addition, it underlines our position as a leading financial institution in Europe and one of the few banks able to provide this kind of specialist service''
Fred Bär, Managing Director, Euro Services at Vocalink, adds: "Through VocaLink's CSM service, which has been operational since early 2008, banks are already able to submit payments quickly and efficiently. This agreement with ABN AMRO complements our existing service and ensures we can reach 100% of SEPA destinations."
The VocaLink Euro CSM offers a comprehensive range of SEPA payment services, including SEPA Credit Transfers, SEPA Direct Debits and a suite of value-added services such as payment capture and authorisation and mandate management.
About ABN AMRO
With a rich history dating back to 1720, ABN AMRO is a highly respected and stable banking partner for our clients.
We are proud of our heritage and excited by our potential, with a constant aim to help our customers conduct their business more effectively. The new ABN AMRO offers a complete range of retail, private banking, commercial and merchant banking products and services.
We service more than 6,8 million retail clients in the Netherlands and offer a broad range of financial products and services to private clients, entrepreneurs and corporates via various distribution channels.
On average, we process nearly 6,5 million payments daily.
We employ about 30,000 people, of which over 5000 outside the Netherlands. The bank has an international reach across 28 countries and territories. Let 180 years of international experience work for you.
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