INDEXO Bank joins SEPA payment system, completes first euro payments
On July 9 INDEXO Bank has joined the unified SEPA payment system, which provides the ability to make and receive payments in euros. This is an important step for INDEXO Bank to commence full operations. It is planned that INDEXO Bank will start operations this summer and will offer instant euro payments to customers from day one.
Currently, several members of the bank's development team are already INDEXO Bank customers and are conducting real payment tests. Joining the SEPA payment system means that now, INDEXO Bank not only has the right to send euro payments to any bank within the system but also the obligation to accept or correctly reject euro payments to an account opened at INDEXO Bank.
“We are currently finalizing preparations for INDEXO Bank to start operations this summer. It is already possible to make and receive payments in the bank, the bank’s systems are ready, and a mobile application has been developed. We will soon join the card payment system as well. In the meantime, we are ensuring that all processes are working smoothly, and we will announce the first working day of the new bank very soon,” says Valdis Siksnis, one of INDEXO's founders and the chairman of the new INDEXO Bank's board.
SEPA, or Single Euro Payments Area, is a unified euro currency payment system that includes 36 countries: all 27 European Union countries, as well as Iceland, Norway, Liechtenstein, Switzerland, Monaco, San Marino, Andorra, Vatican City, and the United Kingdom.
About INDEXO
INDEXO is an asset management company licensed by the Bank of Latvia, which offers modern 2nd and 3rd pillar pension saving plans in Latvia. INDEXO is the fastest growing pension manager in the Baltics by number of clients with more than 134 thousand customers and more than 1.15 billion euros in management and a company listed on the Nasdaq Riga stock exchange with close to 6,000 shareholders.
INDEXO Banka, part of INDEXO Group, has obtained a license to operate the credit institution and plans to start providing financial services in the summer of this year. INDEXO is fighting for a better financial environment in Latvia, and our goal is to become a financial services group that empowers Latvia’s people to achieve prosperity by providing modern, personalized services. Additional information is available at www.indexo.lv.
Contact Information:
Ieva Bauma
INDEXO Head of Marketing and Communications
E: ieva.bauma@indexo.lv
P: +371 28 636 789
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