What We Do
Since 1989, Bottomline has been modernizing global business payments with connected solutions for more than 800,000 financial institutions and businesses in 92 countries.
Securely and efficiently manage funds disbursements
For Businesses
Streamline the collection and management of single and recurring payments
Direct submission and processing of your UK bank payments for payables and receivables
Centralize and automate all your payment creation, controls, and submissions
Comprehensive connectivity to Swift and other domestic and global financial messaging networks
For Banks & Financial Institutions
Convert legacy financial message formats to modern message standards
Easily view analytics of financial messages with central repository
Reduce fraud and errors through digital account verification
For Banks & Financial Institutions For Businesses
Efficiently screen transactions to identify and manage sanctions risk
Stop payment fraud before it happens. Detect, investigate, and protect against internal and external threats.
View, optimize, and forecast your cash position with all accounts connected in one solution
Who We Serve
Our Company
The advent of the SEPA Instant Credit Transfer (SCT INST) framework, aimed at enabling real-time fund transfers across the European Union, is not just a regulatory update but a transformative move to ensure a widespread and rapid increase in the instant payment uptake in the EU.
Partnering with Bottomline allows for seamless connection to the European gateways for your financial institution. Built with future-proofed SaaS architecture your organisation becomes ready-enabled to integrate to SCT Inst, as well as traditional networks such as Swift, SEPA, CHAPS, BACS, UKFPS, Ebics, SIC RTGS, Visa B2B Connect and SIC IP.
Also, PSPs must perform Sanctions Screening checks and verify identity of recipients of transactions as part of the mandate which is formalised under the Verification of Payee initiative.
Financial institutions can benefit from modern technology, allowing you to meet the SEPA Inst mandate, and future-proof access to other payment schemes.
At EBAday 2024 78% of attendees said the need to adhere to instant payment mandates was currently their top priority. In Europe, the use of instant payments has risen from 5.2% of all credit transfers in October 2019 to 17.8% in February 2024, according to the European Central Bank. With the first deadline coming into force on the 9th of January 2025, when PSPs in the eurozone need to be able to receive instant payments in euros, the pressure is truly on.
Adding a new payment rail involves at least a 3-month project. However, there are additional requirements that need to be met including that fees for instant payments to stay in line with non-instant transfers. As well as financial institutions having the functionality to match the international bank account number (IBAN) and the name of the beneficiary, and verify clients against the EU sanctions list on at least a daily basis.
Join Deutsche Bank, EBA CLEARING, Swift and Bottomline as they discuss the key issues facing financial institutions in their journey to comply with the SEPA Inst mandate and the lessons learned from other global schemes that will overcome barriers and ensure a smooth implementation.
Speak to one of our experts today.
