Royal Bank of Scotland selects CGI for SEPA one-stop-shop

Under the terms of the deal, CGI will roll out its SEPA Fallback Service Solution at RBS in collaboration with PowertoPay, an IT company which provides solutions in the field of payment services. This program will address RBS European business customers as part of the RBS SEPA Accelerator initiative.

CGI SEPA Services one-stop-shop will provide RBS corporate customers with a SEPA compliance option. With this conversion solution, CGI will ensure that payments and collections will be converted into the format required for SEPA. Therefore, reporting and exchanging SEPA data with banks will be automated and all transfers will comply with the new requirements before the deadline of 1 February 2014. As part of the transaction, CGIs SEPA Fallback Service will also be offered to all RBS and Ulster Bank clients. CGI provides two key services as part of its Fallback Service including mandate management and conversions for the migration to SEPA. Implementation and onboarding for clients is also part of the services being provided.