EBA Clearing has said it will prioritise cross-service alignment for the next few years and will focus on the development of its large-value payment platform, EURO1. The announcement came at the EBAday conference in Munich today, as the provider of pan-European payment infrastructure services announced that it is aiming to optimally support the users of its different services in their integration of management and monitoring tasks as the industry is preparing for the migration of large-value payment systems, such as TARGET2 or EURO1, to ISO 20022 standards in 2020.
Hays Littlejohn, CEO of EBA Clearing, explained that the company will place a special emphasis on providing users with tools that enable and facilitate cross-service views and activities. He said: “The goal of our future positioning for EURO1 and our other services is to make it easier for our users to get an integrated view across all their service activities and related liquidity positions. Our work in this area should also help our users to centrally steer their service activities according to their needs.”
EBA Clearing's Petra Plompen added that they have been working with SWIFT to create a liquidity dashboard demo for presentation at EBAday. She added: “The liquidity dashboard provides an overview of the liquidity and position of participants both in EURO1 and in RT1. SWIFT has helped us to develop the dashboard in an agile manner using existing EURO1 and RT1 APIs. This proof of concept, which they delivered within less than a month, demonstrates how we can keep the core, but also align our services to the maximum extent.”
EBA Clearing's service portfolio includes the large-value payment system EURO1, the pan-European ACH platform for SEPA, STEP2, and the instant payment service RT1.
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