Fiserv Underpins European First Movers to Instant Payments
20 November 2017
As EBA RT1 and other real-time systems go live, banks are connecting to deliver an enhanced customer experience.
LONDON & BROOKFIELD, Wis., Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Fiserv technology will support multiple ‘wave one’ banks for EBA RT1, the first pan-European clearing platform for real-time payments in euro. Slated to go live 21 November 2017, EBA RT1 facilitates 24/7 payments in line with the SEPA Credit Transfer Instant (SCT Inst) Scheme of the European Payments Council (EPC).
Fiserv is enabling the shift to real-time payments for banks with a presence in a total of nine European countries. The banks utilize the Dovetail payment solution from Fiserv, which was the first to be tested and confirmed ready for SCT Inst in partnership with a leading European bank earlier this year.
The Dovetail payment solution offers unmatched support for real-time clearings, including RT1, TIPS and Equens across Europe, and STET in France and Belgium. The Dovetail solution enables native, real-time item level processing and support for 10 instant payments infrastructures globally, including the new U.S. real-time payment capabilities available through Zelle® and The Clearing House.
Fiserv is a market leader in euro RTGS and SEPA transaction processing volumes and provides SEPA processing for EBA STEP2, Equens, STET and EURO1 and TARGET2.
The Dovetail payment solution enables banks to connect to any of these clearings from a single platform in a way that best matches their needs, including direct connectivity or via SIA, EBICs, or SWIFT.
“As the European real-time payments market moves to execution phase, Fiserv is well positioned to deliver a real-time advantage to our clients,” said Martin Coen, senior vice president, Billing and Payments Group, Fiserv. “The flexibility of our solutions to deliver end customer payments seamlessly across all payment types is helping our clients to innovate more quickly and reliably than their competition.”
Dovetail solutions are offered by Fiserv as a result of its recent acquisition of Dovetail Group Limited. Learn more at dovetailsystems.com.
In a world moving faster than ever before, Fiserv helps clients deliver solutions that are in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.
Fiserv, Inc. (NASDAQ: FISV) enables clients worldwide to create and deliver financial services experiences that are in step with the way people live and work today. For more than 30 years, Fiserv has been a trusted leader in financial services technology, helping clients achieve best-in-class results by driving quality and innovation in payments, processing services, risk and compliance, customer and channel management, and insights and optimization. Fiserv is a member of the FORTUNE® 500 and has been named among the FORTUNE Magazine World’s Most Admired Companies® for four consecutive years, ranking first in its category for innovation in 2016 and 2017. For more information, visit fiserv.com.
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Dovetail now part of Fiserv