Taking the lead in immediate payment

29/03/2021

Societe Generale rolls out instant payment service in seven new countries in Europe

Companies today are being challenged as never before: changing customer expectations, disruptive players, relentless innovations. How do compagnies stay ahead of the curve when everyone is accelerating? Corporates treasury teams need to keep up with these new business realities and embrace innovation in order to best support the business. Speed is definitely a criterion that counts and that can make the difference when talking about customer experience. At Societe Generale, we believe that Instant Payment is a major step ahead for our clients and offering immediate payment capabilities together with added value services has been a top priority over the past months.  

Today, Societe Generale, which has already launched Instant Payment in France, extends its coverage into seven new countries in Europe: Germany, Italy, Belgium, United Kingdom, Spain, the Netherlands and Switzerland. It gives the bank’s corporate clients access to do immediate payment in a matter of just seconds 24/7/365. The wide availability of Instant Payments creates new opportunities for our clients which operate across their country’s borders. They are now able to send and receive instant payment remittance through our communication channels: Host to Host channels (SwiftNet, SFTP…) or via our web banking Cash Management platform, Global Cash.

Today’s achievement is just the beginning. We live in an online society and the corporate area is no exception. Real time approach is set to infuse our cash management global offer transversally. Societe Generale is committed to unlock instant payment possibilities by creating new value-added services that will with no doubt redefine treasury and cash management. 

Societe Generale confirms its commitment to improve the treasurer's digital path in a fast-changing treasury environment. For Instant Payment which is expected to become the new normal in payments or to develop next generation treasury technologies such as APIs, Societe Generale is and has been heavily investing in recent years to upgrade its infrastructure to help our clients embrace the latest evolutions. 
 

“ Our new Instant payment infrastructure is a first step of a significant investment program which will enable us to have at hand a more open architecture. Building a next-gen core banking system is of the utmost importance as it is the prerequisite to build future offers and services that will respond to our clients’ needs for more flexibility, modularity, speed and real time while also enabling data interoperability with our clients’ environment. ”

Nadine Vanaud
Head of Marketing and Solutions for Payments & Collections