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Citi and CGI Logica join forces to offer end-to-end SEPA Direct Debit solution

Logica, now part of CGI Group Inc., and Citi's Transaction Services division, have formed a strategic alliance to provide CGI's Logica Mandate Management service (LMM) to Citi's institutional client base in Europe.

LMM complements Citi's SEPA Direct Debit offering, allowing clients to be ready in time for when the various domestic Euro direct debit schemes across the Eurozone are replaced by the SEPA Direct Debit schemes on 1 February 2014.

CGI's LMM is a platform designed to help corporate easily migrate to SEPA direct debits. It converts legacy mandates into SEPA Direct Debit compliant mandates and manages their full-lifecycle, including collections, in line with the SEPA rule books. With a fully integrated archiving, scanning printing service, LMM eases the complexity of SEPA migration for clients. It is also quick and easy to connect to, enabling corporates to focus on securing the strategic advantage from SEPA.

CGI Logica technology is used to process 15% of SEPA Direct Debit transactions in Europe, surpassing any other provider in the market, whilst Citi was the first bank to send a direct debit transaction via SEPA Direct Debit schemes in 2009. The service leverages CGI Logica's SEPA offering and large footprint in the European market, matching Citi's SEPA presence in 23 countries and wide range of SEPA capabilities, including SEPA Direct Debit instruments within the CitiDirect® Online Banking platform as well as host to host solutions.

Direct debit mandate conversion and management are a huge problem and will be essential in the move to SEPA Direct Debiting. If your bank doesn't have one, you can go direct to the DD mandate conversion and management services from third parties.

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