Paris, 8 December 2016: Banque de France’s banking services department has launched an innovative large-scale programme to overhaul its banking IT system which supports the state. Banque de France has decided to work hand in hand with Sopra Banking Software to change its retail payments* processing activity, by adopting modern and efficient software solutions.
Against a backdrop of an increasingly changing environment, Banque de France’s banking services department must innovate to provide its public sector customers the best service at the best cost. As such, one of the transformation initiatives underway covers retail payments. This initiative is driven by the need to offer its customers a state-of-the-art service, but also pressure to improve economic performance.
In July 2016, following a public consultation at the end of 2015, then an extensive functional and technical benchmark at the beginning of 2016, Banque de France chose Sopra Banking Software’s payments engine to renew its retail payments processing activity in conjunction with Diamis’ interbank exchange platform. Banque de France’s retail payments activity, for exchange and clearing, is pooled with la Caisse des Dépôts et Consignation within the ‘Victoires Paiements’ Economic Interest Group.
Sopra Banking Software’s solutions, which can process over 30 million direct debits in a day, offers Banque de France increased capacity, agility, and efficiency, as well as richer and simpler functionalities.
For Christine SAMPIC, head of banking services at Banque de France, "The launch of this project confirms the trust placed in Sopra Banking Software to support us as effectively as possible with this large-scale assignment, which is monitored by Banque de France’s management committee."
According to Bernard Ramé, Head of the Payments & Cards business line at Sopra Banking Software, "With mounting pressure from European Directives, the banking sector has started to significantly transform its retail payments processing activity. We need to drastically reduce costs, whilst creating new services and ramping up security. This transformation is underpinned by resource pooling, a software-approach and creation of new services. Sopra Banking Software’s offer is perfectly aligned with these changes. We are especially proud to support Banque de France and the Victoires Paiements EIG with their transformation project."
* Retail payment orders: non-cash payment orders (SEPA transfers and direct debits, cheques and commercial bills) in Euros, exchangeable on payment and clearing systems, in particular those operated STET or EBA.