Euro Services

VocaLink provides low-cost access to all destinations within SEPA for a single blended price. It also offers banks a roadmap to revenue through a range of value-added services that help them serve their agency bank and corporate customers efficiently.

VocaLink enables banks to achieve SEPA compliance with minimal change to their internal systems. We can accept payments in legacy formats, convert them into the EPC approved ISO 20022 format for clearing, and deliver them to the destination bank. This gives banks instant SEPA compliance and allows them to revise internal systems gradually and with less risk.

VocaLink achieves reach across the SEPA in three ways: through direct partnership with receiving banks, through interoperability with other euro clearing and settlement mechanisms and through its relationship with the EBA. VocaLink also enables banks to retain bilateral clearing relationships and can route payments to these preferred clearing partners.

VocaLink simplifies participation by quoting a single price based on current traffic patterns. Pricing is regularly reviewed with the aim of reducing unit costs as SEPA volumes rise.

The VocaLink Euro Services include:

VocaLink Euro CSM, which processes Credit Transfer and Direct Debit instructions
Payment capture - to provide reach and processing services for a bank’s business and agency bank customers
A Direct Debit Mandate Management Service
Reach Services, including non-SEPA euro payments
Reformatting service enabling banks to send or receive payments in legacy formats

Some of the benefits of choosing VocaLink for euro clearing and settlement are:

Reduced cost of becoming fully SEPA compliant
Fast time to market with services for corporates and agency banks
Fast time to market with SEPA Direct Debit
Simplified management of liquidity for all payments across a single interface
Predictable execution times for settlement of transaction, regardless of destination
Low-cost, flexible routing to all SEPA destinations
Cost effective management of all SEPA payments via one channel (in your preferred format)

The strategic choice

VocaLink has experience, scale and a track record of innovation. Our euro services portfolio is continually growing in anticipation of emerging needs. We understand banks and aim to lower the cost of payment processing, improve the efficiency of payment operations and provide opportunities for revenue growth. To find out more about the value-added services we are shaping for banks in the SEPA, contact our European relationship managers on +44 870 165 0019 or send us an email by following this email link.

Download our Euro Services product sheet.

Follow this link to view a demonstration of the benefits the VocaLink Euro CSM provides.

Euro Services business case

VocaLink can save your bank over €20 million. Follow the link to fill in the questionnaire and find out how much your bank could save.