News

Universal insurance company UNIQA pojišťovna, a.s. has decided to simplify the current method of electronic communication with its banks. In the first phase, it decided to proceed with the automatic processing of daily statements from all banking houses where it maintains its accounts.

The Multicash^® Payment Factory solution offered by Management Data Praha seemed to be optimal. As part of the implementation, communication with individual banks was optimized and statements are now automatically downloaded, divided according to the statement date and account number (STA splitter application) and stored in the required location, from where the next process transfers them for final processing in the client's information system.

More in the case study (only in Czech here).

About UNIQA: https://www.uniqa.cz/about-us/

Management Data Praha, as the conference partner, invites you for the 18^th International treasury corporate conference on June 9th 2021.

You can see (only in czech) and register free to the event here: Treasury Forum 2021

We look forward to your visit at the most important treasury event in the Czech republic in 2021.

You can find more details about the event  in the czech section "Online Konference Treasury Fórum 2021"

Bohemia Energy Group, a leading alternative supplier of electricity and gas in the Czech Republic, decided to replace several electronic and internet banking platforms with the implementation of Payment Factory on the MultiCash^® platform. As a result, one common platform for communication with banks and internal systems is now utilized. The project provides easier administration, automation of most common activities, a high level of security and a reduction in helpdesk and staff training requirements.

To solve the client's requirements, the possibilities of the MultiCash^® Transfer application with a connection to the DB Connector application were used. An integral part of the implementation of the entire project was also meeting the increased security requirements for payments and simplifying its administration.

By unifying all banks into one system, implementing user access via the web, setting up database encryption on the SQL and MultiCash^® Transfer side, encrypting the DB Connector application control file and the necessary authorization of changes made by electronic signature, the condition of maintaining and increasing security at all levels was met. The ambitious goals set at the beginning of the project have been achieved.

Case study (in Czech only) is available for download here.

Čepro, a.s., one of the most important entities in the field of storage, transportation and sale of petroleum products in the Czech Republic, has chosen the MultiCash^® Transfer solution for automatic processing and downloading of bank accounts statements.

From the evaluation of the project manager of Čepro, a.s. we quote: "The MultiCash^® Transfer solution enabled us to fully automate the download of statements to all accounts we have at several banks and their subsequent automatic processing in our ERP system. We especially appreciate the unification of access to our bank accounts regardless of the bank partner's system and the elimination of manual intervention. The cooperation with Management Data Praha, took place at all times at an above-standard level, while all the requirements of our solution were met even beyond the original assignment. I would like to emphasize professionalism, helpful approach and excellent communication".

More information can be found in the attached case study here (in Czech only). 

On 7 March 2019, the EPC published its decision paper on Brexit and United Kingdom’s (UK) payment service providers’ (PSP) participation in the EPC SEPA payment schemes, approving UK Finance's application for the continued participation of UK in the EPC SEPA payment schemes, even in the event of a “no-deal Brexit”, provided that the UK keeps complying with the relevant SEPA participation criteria.  

On 31 January 2020, the UK formally left the European Union (EU) and entered into an 11month transition period, agreed within the Withdrawal Agreement with the EU, which will run until 31 December 2020, 11 PM, GMT. 

By effects of said transition period, until 31 December 2020 the UK is a non-European Economic Area (EAA) country temporarily part of the European single market and customs union, subject to the relevant EU regulatory framework. Therefore, as communicated earlier this year during the remainder of the transition period the UK will continue operating within the scope of the SEPA payment schemes without any change, due to the fact that existing EU rules and regulations will continue to apply in the UK. To this extent, between 1 February and 31 December 2020, no new requirement will apply, and no changes will be needed for the SEPA Credit Transfer (SCT) / SEPA Direct Debit (SDD) transactions to and from the UK.  

However, as of 1 January 2021 as no extension of the transition period was agreed, the UK is set to leave the single market and customs union, either with an   EU-UK deal, negotiated during the transition period, or without it (i.e. "no-deal" Brexit). For clarity, the UK will at that point maintain participation in the SEPA geographic scope, however, this important change will make the SCT/SDD rules applicable to transactions from/to non-EEA jurisdictions also applicable to SCT/SDD transactions with the UK.  

The EPC therefore requests all  PSPs  and SCT/SDD users to implement without delay the measures described below, to ensure a continued smooth processing of cross-border payments involving a UK-based SEPA   payment scheme participant after 31 December 2020. 

SEPA   transactions to be executed or settled as of 1 January 2021 involving a UK-based SEPA payment scheme participant must contain:  

For SCT and    SEPA Instant Credit Transfer (SCT Inst.) instructions from the Originator:   The full address details of the Originator.  The BIC code of the Beneficiary Bank when the Originator Bank explicitly requests this data element from the Originator.

For SDD and SDD Business-to-Business (B2B) collection files from the Creditor:   The full address details of the Debtor. The BIC code of the Debtor Bank when the Creditor Bank explicitly requests this data element from the Creditor. 

Due to the fast approaching date of 1 January 2021, we would like to draw your attention to the fact that your bank may reject SEPA payment or direct debit orders sent to the United Kingdom from that date due to the missing address of the payee / payer or BIC of the payee / payer's bank.

Since MultiCash Transfer transfers (or allows to enter) those information, we recommend that every client sending SEPA payment transactions or direct debits to the United Kingdom ensures individually that its systems will meet these requirements (adds a code list in the ERP system) from 1 January 2021 (date of execution or settlement of the transaction).

Source: EPC webpage