The partnership will see equensWorldline process all SEPA (Single Euro Payments Area), instant, multi-currency, and domestic payments for Commerzbank, for a period of ten years.
During the first phase, which is already underway, equensWorldline will, together with Atos, manage the existing legacy payment applications. In the second phase of the partnership, the majority of the applications will be replaced by the equensWorldline platform technologies, which are standardised and multi-tenancy enabled, offering functionalities such as instant payments. After this migration, approximately 4 billion Commerzbank payment transactions will be processed per year by equensWorldline.
In a separate contract, signed earlier, Commerzbank will also outsource its Financial Messaging SWIFT Infrastructure to equensWorldline. This platform is based on a partnership with Intercope and its BOX Messaging Hub and is CSP-compliant.
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