The implementation of the SEPA standard required a complete overhaul of how direct debits are processed: each Corporate then became responsible for their management and had to integrate new information such as the type of mandate, the Unique Mandate Reference and the SEPA Creditor Identifier.
Thanks to its strengths, NEOFI was quickly positioned as an intermediary between the various applications within the IT system to collect sampling data, verify it, and, most importantly, enrich it with the new information required, all without impacting the existing application infrastructure. Its ease of configuration helped to limit the financial and human investment required by this new regulation.
To carry out this SEPA migration, each customer had to acquire a mandate library which is used to check and enrich the direct debits with the new data before sending them to the bank via the banking communication platform.
However, the situation is different for each client: For one, the SaaS-based mandate system expects a direct debit file in a proprietary XML format; for another, an in-house development was preferred, which adds the new regulatory information to the 160 regulatory characters of the old direct debit format produced by the ERP, forming a line much longer than the standard…
Without affecting existing systems, NEOFI's rules engine retrieves information regardless of format and ensures consistency and SEPA compliance of aggregated information.
For this, in the first case mentioned above, NEOFI designs an XML file as expected by the mandate library which thus automatically enriches certain fields then NEOFI converts this file to the SDD pain.008 format and adapts it to the specificities of each bank.
In the second case, we defined rules in NEOFI Link for reading the "cfonb160+" file modified by the ERP to deduce the necessary regulatory information:
· Conversion of RIB into IBAN,
• BIC retrieval by connecting NEOFI Link to the SWIFT IBAN+ directory
Then NEOFI builds the SDD direct debit file in pain.008 format and adapts it to the specific requirements of each bank.
While standard software publishers tend to impose their formats and working methods, the agility, flexibility, and ergonomics of NEOFI's rules engine allow each client to decide the best way to conduct their project:
• Complete internalization of tool settings
• Working in collaboration with the publisher NEOFI
• Complete outsourcing to the publisher NEOFI
Regardless of how you manage your project, NEOFI's configuration logic remains very intuitive and easily modifiable, which is why it was easy to adapt:
• Unforeseen project events, such as making the BIC optional, requiring the addition of an IBANONLY note to inform the bank,
• Regarding the evolution of the SDD pattern (it has become superfluous to distinguish between first and recurrent),
· A parallel project on the 2nd presentation of unpaid levies.
