Processing and clearing solutions offered by SIA as a SEPA ACH for the interbank management of SEPA Credit Transfer (SCT) and Direct Debit (SDD) Core and B2B instruments in compliance with current SEPA standards.
The central component of the service, based on the technologies developed for the STEP2 platform, allows easy access via a single interface to the BICOMP-SEPA and EBA-STEP2 schemes, enabling (respectively) the settlement of domestic operations and the settlement of cross-border operations in the TARGET2 scheme via EBA-STEP2.
The SIA SEPA Clearing solution includes core clearing for new SEPA instruments:
- processing of SEPA operations and sending them for settlement
- web access to monitor the information managed by the Central System
- sending of flows containing the information needed for accounting reconciliations
- sending of flows containing the information needed for traffic reconciliations
Flows between the bank's back office system and the SIA clearing platform can be exchanged using the File Transfer products available on both SIAnet and SWIFTNet.
Solutions that are additional and complementary to core clearing give the customer ready access to clearing in Product or Service mode, as desired, in a fully SEPA-compliant manner; forwarding solutions are also available in this context.