This month, we are excited to announce the launch of SEPA instant credit transfer as a new payment method as well as our new automated reconciliation engine.
Launching SEPA instant credit transfer
We are now supporting SEPA instant credit transfers, starting with Société Générale. SEPA instant credit transfers can be sent 24 / 7 / 365 and are credited to the beneficiary account within 10 seconds from being sent by the sending bank. Payments are updated in real time as they are processed by the sending bank and credited on the beneficiary account. We will progressively expand support of SEPA instant credit transfer to other banks connected to the platform.
Introducing automated reconciliations
We are now supporting automated reconciliations, starting with SEPA indirect participant payment flows. Numeral automatically reconciles SEPA payments and returns sent and received with the corresponding settlements. Depending on how transactions are booked, reconciliations can either be one-to-one (if payments are settled in individual transactions) or many-to-one (if multiple payments are settled in one transaction). We will progressively expand automated reconciliations to corporate payment flows.