Since 2 November 2009, every bank in Europe is obliged by the Payment Services Directive (PSD) to include SEPA Direct Debit in its product portfolio.  But this is easier said than done, with many challenges to overcome on the path to compliance; costs, timing, integration with other systems, and customer expectation. Working with VocaLink will help you meet your immediate SEPA Direct Debit needs and your strategic objectives.  We have invested heavily in the right people and technologies to help banks maximise the SEPA opportunity.

Modifying internal systems or purchasing specialised software is complex,  expensive and difficult to budget for, and often a migration is slower than expected.  In addition there are the issues of managing operational risk and completing the project on time.

VocaLink offers a SEPA Direct Debit managed service that integrates directly with existing systems, interfaces to clearing and settlement providers and involves minimal upfront costs. Ongoing costs are linked directly to the volume of payments processed. The service keeps pace with changes in the rulebooks or market practice, so compliance is assured, immediately and always.

The VocaLink approach to SEPA Direct Debit allows banks to focus on core business, rather than managing complex systems developments.