Another 18 financial institutions will join the MyBank solution on 29th July 2013. With these additional institutions joining, there will be 51 MyBank Participants in total, making MyBank available to over ten million retail customers only four months after the launch of the solution. The participating institutions are located in France, Italy and Luxembourg.
By the end of the year, over 100 more banks are expected to join the solution in Italy alone, in line with the Italian banking community’s commitment to roll out MyBank nationally. Financial institutions from other countries are making plans to join MyBank during 2014 after the SEPA migration.
At this stage, customers can use MyBank to make payments via their regular online or mobile banking interface without the need to disclose their personal bank account or payment details to any third parties. The third joining window for the MyBank SEPA Credit Transfer solution is open for registration and will start in September 2013.
In 2014, MyBank users will also be able to create, modify and cancel e-mandates for SEPA Core Direct Debits. A MyBank E-mandate Pilot will be kicked off in October 2013 and run until February 2014.
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