Nomentia is partnering with SEB to provide integrations and bank connectivity to SEB’s clients to prepare them for the upcoming changes enforced by P27, the Nordic Payments Platform. P27 will increase the efficiency of payment processing to improve domestic and cross-border payments in the Nordics.
Through this partnership, SEB clients will have the possibility to use Nomentia to establish direct bank connectivity with the bank and send payments in the correct file format from their enterprise resource planning systems (ERPs) and financial systems. By partnering with Nomentia, SEB will ensure that its clients can adapt to the changing environment before P27 comes into effect.
“We decided to partner with Nomentia as the company has immense experience and expertise to deliver the integrations in a way that is seamless for our clients. Nomentia has also been providing its clients with connection to SEB for years,” says Ida Blom, Partner Manager at SEB. “Our customers can work with Nomentia to develop connectivity between their systems and our bank. Nomentia will create and maintain the integrations and handle the data format transformation.”
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Nomentia, a leading provider of cash and treasury solutions, has been pioneering global bank connectivity as a service helping customers communicate with banks globally. Currently, Nomentia provides over 10 000 bank connections globally via host-to-host, SWIFT, and local connectivity options.
“We have decades of experience in creating and managing bank connections for our clients with banks across the globe enabling corporates to automatically send and fetch bank materials such as payments, account statements, and references. P27 means that companies must communicate with their banks directly and we will help them to transform their payment files into the correct ISO 20022 XML format so that they do not need to do an ERP upgrade,” explains Karl-Henrik Sundberg, Head of Partners & Customer Success at Nomentia.
“Our bank connectivity solution has been in popular demand in all our markets, especially in the Nordics where the deadline for P27 compliance is approaching quickly. Between 2008-2010, we helped hundreds of customers with SEPA transition in Europe and now, we are facing a comparable situation with P27,” says Jukka Sallinen, CEO at Nomentia. “Partnering with SEB is another major milestone for us as we can be part of the change to help reform how payments are processed in the Nordics. SEB clients can select Nomentia to create a connection between their systems and SEB and communicate with the bank directly.”