Domestic Clearing - SITRAD Applications Centre

SIA has been a SITRAD Applications Centre since 1977: experience, technological innovation and skill ensure that customer banks enjoy the highest levels of service availability.
The principal applications managed include:

ICI - Interbank Direct Debit collections
The Interbank direct debit collections service is a standardised service for the exchange between banks of collection operations not migrated to SEPA:
  • Bank receipts (RiBa)
  • Collections authorised by third parties - payments by advice (M.A.V. and  R.A.V.)
  • Bank giro slips.

Check Truncation
The Cheque Truncation procedure involves the truncation of cheques by the negotiating bank and the electronic transmission to the paying bank of data relating to the securities negotiated.
The procedure covers bank cheques, cheques drawn on postal current accounts, bankers' drafts and postal orders.

Electronic confirmation on checks
This procedure allows messages to be exchanged by participating banks (direct and/or indirect) about bank cheques and/or bankers' drafts presented for payment in the Clearing Room.
The information includes notification about:
  • cheques paid/not paid
  • reversal of cheques paid/not paid

Check Image Truncation
Presentation of cheques (cheque data and images) that are presented electronically. The procedure handles:
  • bank cheques
  • bankers' drafts
  • postal cheques
  • postal orders
  • special securities issued by the Bank of Italy
The clearing service offered by SIA as an Applications Centre allows:
  • exchange between financial institutions of all the operations envisaged by the procedure
  • diagnosis of expected flows and their routing based on the master details concerned
  • cash settlement (in BICOMP) of accounting operations
  • reporting services, including traffic reports and reconciliations
  • calculation of interbank charges, where applicable

Interbank fees
The standardised procedure identifies, calculates, settles and notifies participating banks about the charges (penalties, commissions, interest) deriving from the exchange of instructions regarding:
  • Cheque truncation;
  • Electronic Confirmation of Cheques;
  • Interbank direct debit collections;
  • Electronic alignment of files (mandate management) and transferability;
  • Portfolio instructions;
  • Bancomat and Pago Bancomat debit cards.

Mandate management
A standardised service for the exchange between banks of information for managing transfers to another bank requested by participating banks, concerning credit transfers, mortgage loans and financial instruments.

Fund transfers
Interbank transfers involve the following types of transaction:
  • Fund transfers: Transfers of funds between one bank and another bank in its favour
  • Account transfers: Transfers of funds between two accounts, with the same owner, held with the same bank
  • Other services affecting correspondent accounts that do not involve the transmission of documents or have ordinary customers as counterparties

Credit transfers for PA
The Documented Operations procedure is used to remit (by courier or post) cheques, notes, securities, currency, credit transfers and documented collections, for settlement by recording the operation on the related correspondent accounts for services.

Liquidity optimisation for corporates
A standardised application that manages:
  • instructions for notes sent for collection
  • instructions for the payment of notes and bank receipts (RiBa), to be settled with another bank
  • instructions for the recall of cheques presented for payment