Universwiftnet 19 March 2019

by Alaina Roussel

DataLog Finance is taking part in the new edition of Universwiftnet on Tuesday, March 19, 2019 at Palais Brongniart (Place de la Bourse, Paris). During this day, DataLog Finance CEO Imad BEN MARIEM will be leading with Christophe LESOBRE (Director of Innovation and Development of Payment Solutions at Crédit Mutuel) a workshop on instant payments entitled:

“Everything You Always Wanted to Know About Instant Payments * Now You Can Ask for It! »

Payments and cash management are entering a new era. In addition to the PSD2 regulation that required banks to open their data to authorized third parties and provide them with the authorization to initiate payments on behalf of their customer directly to the banks, instant payments have been implemented. These imply better interoperability between the different banks and lead to a more efficient reconciliation. This increases the company’s visibility on its cash flow and improves the company’s end customer experience (e.g. real-time compensation in the case of an insurance policy).

In addition, the Instant Payment has initiated the implementation of SEPA Instant Credit Transfer (SCT Inst), an irrevocable instant transfer with an execution time of 10 seconds, compared to 1 business day for traditional SEPA. This new type of transfer makes it possible to avoid the need to anticipate the date of issue and collection, which is a significant advantage for corporate treasurers, with real time 24/7 issues and collections.

Our workshop will deal with the specific characteristics and technological impacts, as well as the modification of bank-corporate relationships and the consequences for the treasurer.

We hope to see many of you at our workshop and booth to get your feedback on these innovations.

Instant Payment official video:

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