equensWorldline, a subsidiary of Worldline, has announced the early renewal of its service agreement by Landesbank Baden-Württemberg (LBBW). Under the agreement, equensWorldline will provide SEPA payment services for LBBW and process more than 1 billion transactions per year.
With around 10,000 employees and total assets of €241bn in 2018, LBBW is one of Germany's largest banks, serving private clients as well as corporate customers of all sizes in addition to providing its services to the public sector. For such a broad-based bank, a reliable partnership in the area of payments technology is the guarantee to ensure the smooth operation of services.
equensWorldline has been providing LBBW with a broad range of services for 12 years; these range from processing SEPA credit transfer to SEPA direct debit, SEPA card clearing, and XML checks. equensWorldline also acts as a technical service provider and as central clearing house for various national payment transaction formats.
In order to support its growth ambitions, LBBW has decided to extend its cooperation with equensWorldline until 2025. In addition to proven stability and performance, the constantly evolving regulatory aspects are just as important as the highest security requirements in accordance with the various ISO and PCI standards. Going forward, equensWorldline will continue to process well over 1 billion SEPA transactions annually on its high-performance platform for LBBW - and this figure is expected to rise sharply.
Wolf-Rüdiger Braun, Head of Operations at LBBW, says: "LBBW is focused on growth, and we build on stable partnerships. In the twelve years of our cooperation, we have always been able to rely on a competent team and stable payment transaction processing at equensWorldline. With their expertise and deep understanding of our operational processes, equensWorldline allows us to focus on strategic issues and the expansion of our customer relationships. This was one of the determining factors for our decision to extend our partnership before the end of the current contract period."
Michael Steinbach, CEO of equensWorldline, says: "We are very pleased about this definitive sign of LBBW's trust and appreciation. The two companies have grown together over the course of many years of cooperation and we look forward to continuing to support LBBW with our high-performance services in the future and providing a competitive edge in a rapidly changing environment."
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