The European Funds Council (EPC) has launched the EPC Listing Service (EDS) supply mission, deciding on Swift because the provider for its improvement and operation.
The settlement follows a Request for Proposal (RFP) course of in mid-2024 and approval by the EPC Board in September 2024.
The EDS is significant for fee service suppliers (PSPs) to adjust to the Immediate Fee Regulation (IPR) by enabling an IBAN-name test earlier than authorising funds.
It helps the EPC Verification of Payee (VOP) scheme by guaranteeing interoperability and connectivity amongst PSPs by a safe listing.
The EDS will retailer non-personal information, together with PSP identification particulars, adherence to the VOP scheme, and API endpoints.
It should additionally assist different EPC API-based schemes, similar to SEPA Request-to-Pay (SRTP) and SEPA Fee Account Entry (SPAA).
Giorgio Andreoli, EPC Director Common, stated:
“We’re happy to pick out Swift for the event and operation of the EDS platform, following a extremely aggressive RFP course of. This settlement marks a major milestone in advancing the VOP scheme, guaranteeing higher safety and interoperability in funds throughout Europe.”
The EDS platform is ready to go reside on 5 October 2025, alongside the implementation of the EPC VOP Rulebook.
Technical tips for PSPs and Routing and Verification Mechanisms (RVMs) will likely be printed in February 2025.
Thomas Peeters, Head of Western Europe at Swift, added:
“Swift has a long-standing status as a number one reference information supplier. This listing service will allow environment friendly EPC scheme operations, together with the VOP scheme, and help PSPs in complying with the Immediate Funds Regulation forward of the deadline later this 12 months.”
Featured picture credit score: edited from freepik
