Deutsche Bank and Serrala launch API interface for SEPA payments
A joint initiative between Deutsche Bank and Serrala sees the launch of the first API solution for real-time payments in line with the SEPA standard, reports Jane Connolly.
The launch is described as an important step towards real-time treasury, offering the ability to make processes and workflows faster and more efficient.
Part of the Serrala FS² Payments for SAP solution, the interface will facilitate end-to-end automation of payment processes through integration in the customer’s SAP ERP system.
Developed by the European Payments Council, the SEPA Instant Credit Transfer scheme requires digital payments to be executed in ten seconds or less. Previously, the payment method had required mostly proprietary bank solutions.
Thomas Stosberg, director, corporate cash management sales at Deutsche Bank, says: “Combining SEPA Instant Payments with API technology creates new opportunities for our customers. Corporates benefit from an end-to-end integration of their business processes via treasury components to the bank and vice versa and receive an immediate confirmation of their payments.”
Deutsche Bank and Serrala have said they plan to expand the solution to other payment systems in the future.