The Core Euro Bank solution represents modern banking. It is banking solution especially developed for specific requirements of international and cross-border payments focussing on the support of SEPA requirements. At the same time it completely covers payments for all non-SEPA countries with tools for specific national functionalities with the necessary linking.
The European legislator has implemented the SEPA introduction in the 33 SEPA countries within one year. Nevertheless, it is a fact that the regulations and standards defined are leaving considerable margin for national interpretation.
As a consequence those different national interpretations, local definitions and implementations of the rules have not really made European payments uniform. It is SEPA 1 at best.
After the cut-off deadline for national payments and standards there will be required a lot of necessary adaptations and modifications out of the experiences collected to create a real uniform European system. Legislation and European regulatory authorities will have to do their utmost to prepare the path to SEPA 2 very quickly.
The Core Euro Bank has been developed to meet future requirements.
The Core Euro Bank functionalities have been implemented in a way to cope with target markets segments of KMU, payment service providers and Tier 2 & Tier 3 banks. Those requirements are completely met with Core Euro Bank - today and even tomorrow. The Core Euro Bank does not carry around unnecessary ballast like existing legacy banking systems do. It is not limited that way as legal and regulatory requirements have been updated and patched over the years.
The emerging market segment of the payment service providers (PSP) will have to meet the requirements of the new Payment Service Directive II (PSD II) in the future as those finance service providers are regulated be the PSD II to come. Most of them are not prepared that their back end processes and systems will have to meet regulatory requirements of BAFIN and other European bank supervisory authorities.
The Core Euro Bank meets these regulatory requirements and delivers basic components and services. Furthermore, linking to all important payments participants is delivered as standard which means you can concentrate on your core competences.
The possibility to smoothly integrate modern mobile payment applications makes it future-proof in contrast to many other market offers.
The Core Euro Bank is a unique combination of well-functioning and proofed payments systems with modern and flexible core bank systems.