Belgian banks to switch to Stet’s payment platform

“The system will use ‘highly efficient technology and processes’

16 banks and 2 card processors in Belgium will be switching over to a new system for processing, clearing and settling Sepa and non-Sepa payment instruments.

The system is hosted on Stet’s Core platform – according to Stet: “The system will use ‘highly efficient technology and processes’ to introduce an advanced clearing model with multiple intraday cycles, full settlement risk mitigation procedures and on-line risk monitoring.”

Tom Van Der Biest from BNP Paribas Fortis said that “by choosing a high-performance platform that is fully compatible with the standardisation of European payment instruments, the Belgian banking community is backing technical consolidation of the payments market.”

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