Pan-European verification of payee ready by December By Tayo Joseph | April 8, 2024 EBA CLEARING community is taking instant payments to the next level EBA CLEARING announced today that it will provide its service users with Verification of Payee at a pan-European level as from December 2024. The roll-out of Verification of Payee is one element in the comprehensive preparation programme that the Company is engaging in with… Read More
EBA CLEARING to launch OCT Service on RT1 By Tayo Joseph | March 26, 2024 New cross-border payment service to become available by November 2024 EBA CLEARING announced today the delivery of a One-Leg Out Instant Credit Transfer (OCT Inst) Service in the RT1 System for November 2024. This new cross-border service in RT1 will be developed in line with the OCT Inst Scheme of the European Payments Council (EPC).… Read More
EBA CLEARING issues specifications and runs analytical pilot for pan-European fraud pattern and anomaly detection By Tayo Joseph | September 14, 2023 Nine banks from six countries are engaged in the data model training for the new fraud-fighting functionality in STEP2 and RT1 EBA CLEARING announced today that it has issued the specifications for its pan-European Fraud Pattern and Anomaly Detection (FPAD) functionality. The pan-European payment infrastructure provider also delivered a developer portal, including a sandbox, to… Read More
EBA CLEARING to kick off analytical pilot for pan-European fraud pattern and anomaly detection By Tayo Joseph | June 19, 2023 Delivery of fully-fledged fraud prevention and detection functionality for all STEP2 and RT1 users on track for November 2023 EBA CLEARING announced at its Shareholders Meeting in Madrid today that it will kick off the analytical pilot for the pan-European Fraud Pattern and Anomaly Detection (FPAD) functionality in July 2023. The Company reported that the… Read More
Frontrunner banks to deliver request to pay proof of concept with EBA CLEARING’s R2P Service By Tayo Joseph | June 15, 2023 The PoC will showcase how PSPs can adopt R2P and create value around request to pay Seven multinational banks have joined forces for this deliverable and would welcome additional participants EBA CLEARING announced today that, together with seven multinational banks, the Company has kicked off preparations for a pan-European request to pay proof of concept… Read More
EBA CLEARING to enrich RT1 and STEP2 with fraud prevention and detection capabilities By Tayo Joseph | March 22, 2023 • The comprehensive solution will add insights from a central system view to the fraud-fighting efforts of STEP2 and RT1 users • The new capabilities will include a pan-European IBAN/name check by November 2023 EBA CLEARING announced today that it will enrich its SEPA payment systems, RT1 and STEP2, with fraud prevention and detection capabilities… Read More
Large-value payment system EURO1 successfully migrates to ISO 20022 By Tayo Joseph | March 21, 2023 • The move completes the EURO1 future positioning programme, readying the RTGS-equivalent system for the ISO 20022 era • EURO1 participants now benefit from this data-rich standard and extended opening hours, and can continue to leverage the liquidity efficiency EBA CLEARING announced today that its systemically important payment system EURO1 has successfully migrated to ISO… Read More
Europe’s leading pan-European instant payment service RT1 turns five By Tayo Joseph | November 21, 2022 • RT1 is well-positioned to help PSPs meet instant payment requirements and adoption timelines proposed by the European Commission • The service is also ready to support its users in leveraging instant payments for innovative user solutions as envisaged in the Regulation proposal EBA CLEARING’s instant payment service RT1 has been in the forefront of… Read More
Immediate Cross-Border Payments (IXB) Pilot Set to Revolutionise International Payments By Tayo Joseph | October 6, 2022 | 0 First participants are preparing to exchange cross-border instant payments as part of a live pilot with financial institutions in the United States and Europe. The pilot will leverage the real-time payment systems, RTP® and RT1, the IXB solution and key SWIFT components for transactions in the euro and U.S. dollar currency corridor. EBA CLEARING, The… Read More
STEP2 community successfully completes migration to continuous gross settlement By Tayo Joseph | July 12, 2022 This move will help banks across Europe to shorten end-to-end processing timelines for SEPA payments from hours to minutes Today, the participants in EBA CLEARING’s pan-European euro mass payment system, STEP2, successfully concluded the migration to the new continuous gross settlement (CGS) mechanism. With this achievement, the STEP2 user community has completed the groundwork for… Read More