Deutsche Bank and Serrala launch API solution for real-time payments
Deutsche Bank and Serrala have launched the first API interface for single euro payments area (SEPA) instant payments in the market. The joint initiative is a first step facilitating real-time treasury and allowing payments to be processed 24/7/365 within less than ten seconds. The interface, which is part of the Serrala FS² Payments for SAP solution, sets the basis for an end-to-end automation of payment processes through integration in the customer’s SAP ERP system. The joint solution lays the foundation to enhance, accelerate and digitalise not only treasury processes but also end-to-end business workflows.
The SEPA Instant Credit Transfer scheme, developed by the European Payments Council, sets the standard that digital payments must be executed in ten seconds or less. This payment method has been available since 2017, but for now, it requires mostly proprietary bank solutions. Deutsche Bank and Serrala have now developed the first API that allows corporates to initiate payments instantly through their SAP ERP system.
Deutsche Bank and Serrala are working with their clients to understand their payment demands and constantly improve the solution. In a first step, the SEPA Instant Payment API will be available to capture, process and manage manual payments in SAP systems. Deutsche Bank and Serrala have plans to expand the solution to include other payment systems in a second phase.