Isilis selected by SEPAmail.eu as referenced service provider “Primus Inter Pares”
How does it work?
Serving foreign issuers
SEPAmail.eu chose ISILIS, a SEPAmail AIGUE-MARINE referenced service provider to be its referenced service provider primus inter pares in order to process 4bis flows involving foreign issuers that cannot be reached through their issuing institution abroad and which are not yet SEPAmail.eu Members. Any French PSP that is involved in Regulated Account Switching must be a member of SEPAmail.eu.
Benefits of the service
- Significant increase in the level of completeness of the incoming account transfer files of customers joining the new bank or PSP.
- A SEPAmail.eu feature that provides direct routing to issuers when their issuing institution is not in France (called the “4bis” channel).
- Routing of 4bis flows delegated to ISILIS for the largest European issuers whose issuing institution is located abroad. ISILIS will ensure the reachability of European issuers (approximately 150), which represent 80% of the flows to issuing institutions.
Access to the service
- You must be a SEPAmail.eu Member to be eligible for the service.
- Each SEPAmail.eu Member (the new bank or PSP) concerned with this service must sign a contract directly with ISILIS.
- Each SEPAmail.eu member (the new bank or PSP) must join the extended SEPAmail bic.message database. No additional developments are required.
Note: since the referenced service provider “primus inter pares” is not a SEPAmail.eu Member, the new bank/PSP using the service is responsible for the exchanges.
