La Banque Postale is now offering its customers the chance to issue and receive instant transfers in euros within the whole SEPA using an integrated solution from Transactis.
Access to transactions at European level
La Banque Postale – which has offered the issue and receipt of instant payments over the national territory since 2019 – is now one of the first French banks to offer instant cross-border payments, by extending its instant payment service to the whole SEPA, for both issuing and receiving transfers.
This solution ensures an exchange between the bank and the CSMs (Clearing and Settlement Mechanisms), STET and EBA Clearing’s RT1. In addition, it enables La Banque Postale to query the European reference database of participating banking institutions in real time to check order feasibility as soon as possible.
A solution created by Transactis
This service was made accessible to La Banque Postale customers through the adoption of the Sopra Banking Software solution by Transactis. Transactis’ two bank clients – Societe Generale and La Banque Postale – thus benefit from effective technology. “The solution, which offers instant transfers in just a few seconds, opens the way to new practices, and will give our customers, whether companies or individuals, greater flexibility and efficiency in managing their payments,” comments Régis Folbaum, Director of Payments at La Banque Postale.
The immediacy sought by customers
The use of instant payments has grown during the public health crisis, with a rise of more than 30% in issues in May versus January, and almost 10% in May compared with April. By adopting instant payments in Europe, La Banque Postale is meeting the challenge of the transformation of payment methods and banking practices.