Form3 teams with Arkéa Banking Services for SEPA real-time payments
Form3, a UK-based cloud technology provider of Payments-as-a-Service processing for banks and regulated fintechs, has partnered with Arkéa Banking Services, a European business process outsourcing (BPO) provider for financial institutions (and a subsidiary of France’s Crédit Mutuel Arkéa).
The deal will provide service for euro (SEPA) real-time payments to Form3’s clients. “Through a single, cloud-native technology platform Form3 is now providing its customers with direct access to real-time payments systems in both the UK and Europe,” the paytech vendor states, adding that the new service is “industry-first”.
“Under a new bank sponsored model, Form3 customers get access to a truly real-time payments experience, enabling them to move money between European accounts in under ten seconds,” it explains. “Form3 provides a fully managed service which connects customers directly to the SEPA instant payments system EBA RT1, and Arkéa Banking Services provide liquidity and settlement services.”
Ready for instant payments
Arkéa Banking Services is launching its own solution to connect its clients to RT1, with Sentenial‘s Nuapay and Vitesse PSP to be the first payment institutions to roll out this new capability next autumn.
Arkéa Banking Services, which describes itself as “a pioneer in white-label banking services” has already connected around 30 clients – banks, fintech and e-money institutions – to the European clearing house, allowing them to exchange direct debits and credit transfers.
