Dont delay.Get SEPA ready today.Preparing your data for SEPA migration
Are you SEPA ready?                                Why now?The Single Euro Payments Area (SEPA)               The SEPA end...
BBAN PRESENT                                                                     IBAN PRESENT        BBAN       BBAN      ...
Why Experian?Experian is the leading global information services company, providing data and analyticaltools to clients in...
ExperianSwift Park, Old Leicester RoadRugby, Warwickshire CV21 1DZUnited KingdomT: +44 (0)1788 554800T: (Sales) +44 (0)178...
Upcoming SlideShare
Loading in …5
×

Don't delay get SEPA ready today

674 views

Published on

Making a sure your business is ready for the new Euro SEPA payments system could save a lot of time, hassle and money.

Published in: Economy & Finance, Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
674
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
14
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Don't delay get SEPA ready today

  1. 1. Dont delay.Get SEPA ready today.Preparing your data for SEPA migration
  2. 2. Are you SEPA ready? Why now?The Single Euro Payments Area (SEPA) The SEPA end date is February 2014, wheninitiative creates a zone in which all euro all payment formats will require IBAN andelectronic payments are treated as domestic BIC in order to be successful. If left until theby removing existing differences between last minute, the SEPA requirements have thenational and pan-European cross-border potential to be both disruptive and costly.payments. SEPA will enable you to make There is a competitive advantage to earlycashless euro payments to anyone located migration to SEPA payments as ensuring youin the SEPA zone using only a single bank have the correct IBAN formats prior to the endaccount and one set of payments instructions. date will ensure your business continuity. EvenThis means from 1st February 2014 all euro if you’re not experiencing failed paymentspayments will require the use of IBAN today, failure to migrate to SEPA by the(International Bank Account Number). Failure deadline will ultimately resu lt in failedto collect and validate IBAN details will result payments and increased costs which willin failed payments, increased rejections costs negatively impact on the profitability of yourand poor customer service. 34 million euro business.Take steps to begin migration totransactions are made every year and around SEPA today. Contact one our team of experts.12.7%* are incorrect; and with the cost perfailed transaction at an average of €50, thefinancial impact for your business of non-conversion could be significant.How can Experian helpyou with SEPA?Experian can help you validate andreformat your payment details into SEPAcompliant formats using the worlds’most comprehensive and completemulti layered SEPA validation and IBANconversion solutions. Experian validates ‘Failed transactionsand electronically converts your existing, pose significant costsdomestic, bank account formats to therequired IBAN and BIC; alongside being able of around €6 for everyto flag and identify incorrect data early and account number held:ensure that it is cleansed. Experian providesa service that initiates successful, SEPA €600,000 for businessescompliant, cross-border and local paymentswith dramatically reduced errors and with 100,000 customers.’rejection costs. ExperianWhitepaper April 2012: Counting the hidden costs of SEPA migration
  3. 3. BBAN PRESENT IBAN PRESENT BBAN BBAN BBAN BBAN BBAN BBAN BBAN 10070 000 BBAN - 2701696 BBAN IBAN DE3 6 1 0 0 7 0 0 0 0 0 2 7 0 1 696 00 FULLY VALIDATE BBAN AND IDENTIFY INCORRECT DATA FULLY VALIDATE IBAN AND CLEANSE AND COMPONENT BBAN IMPROVE BBAN DATA, IDENTIFY CLIENT DATA INCORRECT DATA CLEANSING OF REMAINING INCORRECT BBAN DATA BBAN BBAN BBAN BBAN BBAN BBAN 10070000 BBAN - 0270169600 BBAN IBAN DE1 0 1 0 0 7 0 0 0 0 0 2 7 0 1 696 00 BBAN CONVERSION TO IBAN BBAN BBAN BBAN BBANIBAN DE10 100 7 0000 0270 1696 00 BBAN BBAN BBAN BBAN E1 0 IBAN D 1007 0000 0270 1696 00 ESTABLISH CORRECT BIC BBAN BBAN BBAN BBAN E1 0 IBAN D 1007 0000 0270 1696 00 BBAN BBAN BBAN DEUTDEBBXXX BIC BBAN SEPA READY FOR SUCCESSFUL PAYMENTS
  4. 4. Why Experian?Experian is the leading global information services company, providing data and analyticaltools to clients in more than 80 countries. Helping businesses to manage credit risk, preventfraud, target marketing offers and automate decision making.Experian can offer you a fast, cost-effective IBAN and BIC data conversion and validationservice to ensure that your payments data is correctly formatted for SEPA and that yourbusiness can benefit from the new schemes without disruption or additional costs. Ourconsultancy provides you with a complete SEPA migration solution. Our dedicated SEPAteam with knowledge of local account formats across the SEPA zone will ensure you avoidfailed conversions.‘On average, 12% of bank account data currentlyheld by European companies contains errors thatcould cause payment failure on SEPA adoption.’*ExperianWhitepaper April 2012:Winning with SEPA –Why valid bank account data mattersDont delay.Contact our team today...0845 266 6602sepa@uk.experian.com 4
  5. 5. ExperianSwift Park, Old Leicester RoadRugby, Warwickshire CV21 1DZUnited KingdomT: +44 (0)1788 554800T: (Sales) +44 (0)1788 554810F: +44 (0)1788 554900www.experianpayments.com © 2012 Experian Ltd. Landmark House, ExperianWay, NG2 Business Park, Nottingham, NG80 1ZZ, United Kingdom.The word Experian is a registered trade mark in the EU and other countries and are owned by Experian Limited and/or its associated companies. All rights reserved. This document does not form any part of a contractual commitment.Whilst every effort is made to ensure accuracy, Experian accepts no responsibility for errors or omissions.

×