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Fiserv launches Dovetail payment solution in Europe

BBR Staff Writer Published 20 November 2017

US-based financial services technology solutions provider Fiserv said its Dovetail payment solution will support banks in Europe.

Fiserv technology will support multiple wave one banks for EBA RT1, a pan-European clearing platform for real-time payments in euro.

EBA RT1 will facilitate round the clock payments in line with the SEPA Credit Transfer Instant (SCT Inst) Scheme of the European Payments Council (EPC).

Fiserv will allow banks shift to real-time payments in nine European countries.

The banks will use the Dovetail payment solution for real-time clearings, including RT1, TIPS and Equens across Europe, and STET in France and Belgium.

Dovetail solution will allow native and item level processing and provide support for ten instant payments infrastructures across the globe, including the US real-time payment capabilities through Zelle and The Clearing House.

Fiserv also offers SEPA processing for EBA STEP2, Equens, STET and EURO1 and TARGET2.

Dovetail payment solution allows banks to connect to any of these clearings from a single platform to meet their needs, including direct connectivity or via SIA, EBICs or SWIFT.

Fiserv recently acquired Dovetail Group, allowing it to provide Dovetail solutions to the customers.

Fiserv billing and payments group senior vice president Martin Coen said: "As the European real-time payments market moves to execution phase, Fiserv is well positioned to deliver a real-time advantage to our clients.

"The flexibility of our solutions to deliver end customer payments seamlessly across all payment types is helping our clients to innovate more quickly and reliably than their competition."


Image: fiserv offices in w:Hillsboro, Oregon. Photo: courtesy of M.O. Stevens.