EBICS facilitates the Single Euro Payments Area:
New Franco-German cooperation promotes European standard for payment transactions
17 June 2010 - To facilitate business activities in Europe, especially within the Single Euro Payments Area (SEPA), German and French banks have agreed on providing a common protocol for financial transactions on the internet which standardises communication between corporate clients and banks - the Electronic Banking Internet Communication Standard (EBICS).
The new EBICS Company, today founded in Brussels by the Comité Français d'Organisation et de Normalisation Bancaires (CFONB) and the Zentraler Kreditausschuss (ZKA), is now making this communication protocol available to the entire SEPA market, its use and governance being open to all other banking communities in Europe. The protocol will promote the standardization of payments in Europe and is already being used in Germany. It is the key solution to replace certain existing standards, namely FTAM in Germany and ETEBAC in France.
The implementation of EBICS represents a major step in the migration towards SEPA, many companies having linked the migration of their payment applications to the availability of this pan-European communication protocol.
EBICS meets the needs of corporate clients and businesses of all sizes in terms of standardization and the simplicity of procedures. It enables them to conduct their banking business flexibly, efficiently and securely through encryption and traceability, using secure Internet Protocol (IP) with strong encryption. EBICS adapts easily to company computing architectures and to transaction volumes.
The EBICS Company was created by the French Committee for Organization and Standardization of Banking (CFONB) on behalf of the French banking community and four different German banking communities which represent the Zentraler Kreditausschuss (ZKA) on behalf of the German banking community.
Association of German Banks
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