Register for The Paypers news Follow The Paypers on LinkedIn! Follow The Paypers on Twitter! Follow The Paypers on Facebook! Follow The Paypers on Google+!
The Paypers, paypers, Insight in payments, News, Reports, Events
Payments General

CGI, Experian to address SEPA payments across Europe

Tuesday 19 March 2013 | 08:34 AM CET

CGI Group, a provider of information technology and business process services, and global information services company Experian have joined forces to help corporates migrate direct debits to meet the requirements of the Single Euro Payments Area (SEPA).

Under the terms of the deal, CGI will offer Experian's pan-European bank account data validation services to maximise straight-through-processing rates for corporates migrating to SEPA direct debit (SDD) using CGI’s portfolio of SEPA solutions.

In Europe more than 4 billion direct debit mandates will need to be migrated to SEPA standards. Businesses using domestic systems and account numbers must convert to the international standards of IBAN and BIC by February 2014 for all transactions in the Eurozone.

Inaccurate, out-of-date account information will be a major issue for corporates migrating to SEPA standards. Poor quality data risks imposing additional costs on businesses and for many could result in collection failures and penalties. Whilst today many banks provide exception handling free of charge, with SEPA the expectation is that they will not be able to do this and corporates will risk payment failure and the associated costs. Recent research from Experian suggests this could be up to 12 percent of all transactions. With an estimated cost of payment failure at EUR 50 per transaction, a corporate with 100,000 records could expect to register a cost of failure of EUR 600,000 per monthly transaction cycle.

Experian allows businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also provides individuals with the ability to check their credit report and credit score and protect against identity theft. CGI was founded in 1976 as a provider of business and IT consulting services, systems integration, application development and maintenance, infrastructure management as well as proprietary solutions.
 

Print | Contact editor | Mail
© 2014 The Paypers
More: Abstract

This Month

Next Month

All

01 Jun 2014   The Global Student Challenge
01 Sep 2014   17th Annual Shared Services and Outsourcing Week Asia 2014
02 Sep 2014   6th Annual Retail Banking Africa Forum
02 Sep 2014   Hong Kong's Customer Festival 2014
02 Sep 2014   17th Annual Asian Shared Services & Outsourcing Week
02 Sep 2014   Cards & Payments Turkey 2014
03 Sep 2014   The Summit for Global Process Owners
03 Sep 2014   European Online Retail Forum 2014
03 Sep 2014   7th Annual Liquidity, Treasury and FTP
04 Sep 2014   Social Mobile Engagement Conference & Code Challenge
08 Sep 2014   APEX: Digital Currency Partnerships
08 Sep 2014   PayStream INNOVATE 2014: The Purchase to Pay Summit
08 Sep 2014   2nd Annual Supply Chain and Receivables Finance
08 Sep 2014   APEX Digital Currency Partnerships
08 Sep 2014   Total Security Summit
09 Sep 2014   Digital Money 2014
09 Sep 2014   Mobile Innovation Europe Summit
09 Sep 2014   Group Treasurers' Exchange 2014
09 Sep 2014   Europe’s Customer Festival
09 Sep 2014   Big Data World Show Malaysia
09 Sep 2014   Asia Trade Finance Week
09 Sep 2014   Financial Forecasting & Planning Innovation Summit
09 Sep 2014   The Money Event
09 Sep 2014   FP&A Innovation Summit
10 Sep 2014   AITEC Banking & Mobile Money COMESA
10 Sep 2014   Connecting the Global Digital Economy
11 Sep 2014   Post-Trade Forum
11 Sep 2014   4th Annual Risk Management Forum
15 Sep 2014   Inside Bitcoins
15 Sep 2014   ProcureCon Indirect West
15 Sep 2014   Shared Services Exchange 2014.
15 Sep 2014   Finance Transformation: People. Process. Technology
15 Sep 2014   America’s Customer Festival
15 Sep 2014   Next Generation Outsourcing and Shared Services World
15 Sep 2014   2014 Internal Control & Fraud Prevention Training
16 Sep 2014   MVNOs Industry Summit LATAM
16 Sep 2014   The Treasury Summit 2014
17 Sep 2014   International IMRGConnect
17 Sep 2014   Fraud Summit Toronto
18 Sep 2014   Next Bank Europe
19 Sep 2014   Bitcoin Expo 2014
22 Sep 2014   NFC World Congress, Mobile Proximity: Services, Innovation & Business
22 Sep 2014   World e-ID Congress
22 Sep 2014   M2M Innovation World Congress
22 Sep 2014   Chip-to-Cloud Security Forum
22 Sep 2014   MVNO Industry Summit Middle East
22 Sep 2014   Retail Payments Week
22 Sep 2014   4th Annual American Banker Regulatory Symposium
22 Sep 2014   Click and Collect Show Canada
23 Sep 2014   World Retail Banking Excellence
23 Sep 2014   E-commerce Paris
23 Sep 2014   Fraud Summit London
23 Sep 2014   6th Annual BankTech Asia 2014 Congress
23 Sep 2014   FinovateFall
23 Sep 2014   The Product Development Excellence in Banking Summit 2014
23 Sep 2014   NetConnect
24 Sep 2014   European Platinum Meeting
24 Sep 2014   eWorld Purchasing & Supply
24 Sep 2014   Sustainable Purchasing and Supply Summit
24 Sep 2014   The Sustainable Purchasing and Supply Summit
24 Sep 2014   3rd Annual Bancassurance Forum
24 Sep 2014   3rd Annual Bancassurance Forum
25 Sep 2014   5th Annual Innovation in Cash Management
25 Sep 2014   European Life Insurance Forum
29 Sep 2014   TEE Conference 2014
29 Sep 2014   The Payments Knowledge Forum 2014
29 Sep 2014   World Retail Congress 2014
30 Sep 2014   FinDEVr - The First Event for Fintech Developers
01 Oct 2014   FDIH e-Commerce Conference