CGI creates SEPA backup for Royal Bank of Scotland (RBS)

CGI has been selected by RBS to incorporate a SEPA migration solution for the bank, leading up to SEPA deadline

CGI has been selected by RBS to incorporate a SEPA migration solution for the bank, leading up to SEPA deadline on 1 February 2014.

CGI, the world’s fifth largest It company, together with PowertoPay, Dutch based payment services provider, will be bringing RBS’s corporate clients a SEPA solution that will permit SEPA conversion, without putting company operations at risk; the goal being that that by SEPA migration deadline, reporting and exchanging SEPA data with banks, will be programmed and SEPA compliant.

Marcel Sommeling, Vice President of Financial Services at CGI Netherlands remarks: “A recent study carried out by CGI revealed that 79% of companies in Europe have yet to implement measures to meet the upcoming SEPA deadline of 1 February 2014…The deadline for on-time migration is rapidly approaching for companies…” 

If accurate, the 79% statistic is slightly conserning given that we are already in the second half of 2013. Will Europe be ready by February next year? Time will tell. 

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