News labeled cash management:

SEB, the first Nordic bank to offer trade-related service for off-shore renminbi (referred to as CNH), can now also provide improved capabilities on-shore in China, making it a one-stop-shop for payments in and out of the country.

SEB is well prepared to handle the future of euro direct debits across Europe being among the first banks to make available direct debit products introducing Single Euro Payments Area (SEPA) functionality.

SEPA - Single Euro Payments Area. Björn Flismark, Senior advisor at SEB, deputy chairman of the EBA and member of the EPC, argues for an end date in order to get all stakeholders on board and in sync. “The advantage is that it would send a strong signal to all stakeholders to adopt SEPA. Doing nothing is not an option since legacy payment services will not be available anymore from a certain date”.

SEB has received approval from People Bank of China to become a member of the national clearing system CNAPS, enabling the bank to offer a complete and more efficient cash management solution in China.

Operations Germany recently won high recognition from Deutsche Bank for SEB Germany’s success in sending 97 percent of its payments to Deutsche Bank via straight-through processing (STP). This attests to the high quality of SEB’s payment transactions and saves the customer money – STP processing removes the need for SEB charge extra fees for correcting errors.