Paris, 12 June 2018
EBA CLEARING charts course for EURO1 future with strong focus on cross-service alignment
EURO1 in its core is considered future-proof by user community
Key priority to be put on maximal alignment with TARGET2 developments but also with other EBA CLEARING services
EBA CLEARING is putting cross-service alignment at the top of its strategic agenda for the next few years, especially in view of evolving its large-value payment platform EURO1. The provider of pan-European payment infrastructure services announced at the EBAday conference in Munich today that it is aiming to optimally support the users of its different services in their integration of management and monitoring tasks as the industry is preparing for the migration of large-value payment systems, such as TARGET2 or EURO1, to ISO 20022 standards.
Against this background, the Company is planning to place a special emphasis on providing users with tools that enable and facilitate cross-service views and activities.
“The goal of our future positioning for EURO1 and our other services is to make it easier for our users to get an integrated view across all their service activities and related liquidity positions. Our work in this area should also help our users to centrally steer their service activities according to their needs,”
said Hays Littlejohn, CEO of EBA CLEARING.
“This strategic course is in line with the outcome of our latest user consultations, where participants confirmed their strong satisfaction with our services in their current set-up but at the same time expressed a vivid interest in more cross-service support tools.”
“We are happy to be able to provide our users with a first glimpse at what our future tools could look like. To achieve this, we have worked with SWIFT to have a liquidity dashboard demo ready for EBAday. The liquidity dashboard provides an overview of the liquidity and position of participants both in EURO1 and in RT1,”
said Petra Plompen, Senior Manager, Service Development and Management, EBA CLEARING.
“SWIFT has helped us to develop the dashboard in an agile manner using existing EURO1 and RT1 APIs. This proof of concept, which they delivered within less than a month, demonstrates how we can keep the core, but also align our services to the maximum extent.”
EBA CLEARING’s service portfolio includes, among others, the large-value payment system EURO1, the pan-European ACH platform for SEPA STEP2 and the instant payment service RT1.
EBA CLEARING had announced at EBAday 2017 that it would work on the future positioning and evolvement of EURO1 to ready the system for the industry’s migration of large-value euro payments to ISO 20022 at around 2020 and for other emerging ecosystem developments.
As an outcome of this initiative, the Company plans to leverage this major industry changeover for the roll-out of the cross-service support tools it is working on.
About EBA CLEARING
EBA CLEARING is a provider of pan-European payment infrastructure solutions. Founded in 1998, the Company is owned by 51 of the major banks operating in Europe and is based on a country-neutral governance model. The payment systems of EBA CLEARING are pan-European by design and desire: they are developed in close co-operation with the Company’s multinational user community and best-of-breed technology partners.
EBA CLEARING manages and operates the payment services EURO1, STEP1, STEP2 and RT1. Both EURO1 and STEP2 have been classified as systemically important payment systems (SIPS) by the European Central Bank. The pan-European real-time payment platform RT1 went live in November 2017 and processes euro instant payments complying with the European Payments Council’s SEPA Instant Credit Transfer Scheme.
The list of RT1 participants and a document including all payment service providers addressable through the system are available at:
https://www.ebaclearing.eu/services/instant-payments/participants/
For more information on EBA CLEARING, please visit www.ebaclearing.eu, or follow us on: