EquensWorldline bags Degussa Bank payments processing deal
Payments firm EquensWorldline, a subsidiary of Worldline, has secured a long-term contract to process all payments for Degussa Bank in Germany, starting Q2 2017.
Degussa Bank will outsource its end-to-end payments processing to EquensWorldline. This includes SEPA processing, cross-border payments, high value payments, compliances services, investigations, archiving and a full channel service suite including Swift service bureau, corporate access and paper based payments.
Jürgen Eckert, chairman of the board of directors, Degussa Bank, says working with a single provider that “covers the entire payments value chain enables us to reduce costs and complexity significantly”.
EquensWorldline is taking over the end-to-end responsibility for the payments operations. It says service-level agreements and reporting enable Degussa Bank’s supplier management a “close monitoring” of the services while oversight from the European Banking Authority through the Dutch National Bank “ensures all banking industry compliance standards are met”.
Worldline employs more than 8,600 people worldwide, with estimated revenue of around €1.5 billion on a yearly basis. Worldline is the brand name and is an Atos company.