WestLB Case Study

Learn how WestLB centralizes SEPA and SWIFT filtering to meet regulatory requirements

The Challenge and Legal Requirements
Financial institutions within Europe experienced a significant change in their organization and payment process when the European Payments Council decided to create a Euro zone called SEPA (Single Euro Payments Area). With new SEPA requirements, all electronic payments would be considered domestic and without any difference between national and European payments. By February 2014, all European banks are required to have technology in place to fully support SEPA payment instruments…