SEPA-compliant Electronic Database Alignment – SEDA

One of the pre-requisites for the full SEPA migration in Italy is a pre-notification of the mandate as well as mandate amendments and cancellations to the debtor bank prior to the first direct debit collection as it already exists in the legacy system called EDA.

Therefore, Italian banks and the Italian Banking Association (ABI) have elaborated SEDA - registered with the EPC as an AOS - to maintain the service levels for corporates post-SEPA migration.

SEDA stands for SEPA-compliant Electronic Database Alignment. The purpose of SEDA is to exchange the mandate-related information between the bank of the creditor (called the Alignment Bank in SEDA) and the bank of the debtor prior to the first debit collection.

The EBA CLEARING SEDA Service is the solution proposed by EBA CLEARING for banks that operate in Italy and want to comply with SEDA.

;

Key benefits

  • Direct exchange of mandate information

  • Full reach of all banks that offer SEDA