News

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

During the pandemic, we help the HoReKa sector to remain competitive in the form of special offers for our payment and cash management solutions. Alcron Hotel Prague has successfully implemented our splitter module for sorting bank statements.

From June 4th 2020, Equa bank clients can send and receive payments from other banks in their mobile banking in an immediate mode, so-called instant payments. The bank has thus fully participated in the system, which will speed up interbank payments in Czech crowns and, above all, enable them to make payments 24 hours a day, 7 days a week (including holidays and non-working days).

Equa bank uses the Corona solution from SmartStream to reconcile instant payments 24/7.

In recent weeks, financial management and cash flow planning have become more important than ever, especially when subsidiaries and affiliates around the world are experiencing liquidity constraints at the same time. But it's not just companies with foreign branches. Even domestic companies and companies are asking more urgent questions today than before:

• What will be the payment morale of our partners and customers in the future?
• What will the financing of our company look like?
• How much liquid funds will be available?
• Will we be able to meet our obligations to partners and the state?
• Will it be necessary to draw on external sources, in what volume and under what conditions?
• What is the outlook for the future and how will its individual variants affect the position of our company?
• ... and many other fundamental questions ...

In the current difficult period, in cooperation with Trinity, we support large and medium-sized companies and firms with a special offer for liquidity planning without any license fees for the Treasury Management System!

It is a special solution for treasury management - liquidity planning in the cloud, with fast implementation, deployed remotely. Trinity will waive royalties in the first six months.

In cooperation with Management Data Prague, the Trinity system can be put into productive operation in just five days! This provides treasurers, CFOs and other employees with much greater transparency and data quality than ever before. Remote work with colleagues from all over the world in the same database brings much higher efficiency and at the same time you and your colleagues can stay healthy and safe at home.