HOME   >   About Us   >   Projects

Projects

TRANSFOND has been leveraging on the competences acquired while implementing the EPS systems in the development of new projects in the payment market or in ancillary domains.

Encouraging the use of Direct Debit instructions

Although the clearing and settlement facility of interbank direct debit instructions is available in SENT since 2005, a low utilization of this service has been noticed. In order to stimulate Direct Debit usage, during the SEPA Programme for modernization of SENT, TRANSFOND implemented the SEPA Direct Debit component for national currency, a service more efficient and easier to use for payers, services providers and banks.

SEPA Direct Debit in national currency was launched alongside an additional service for mandate management - Unique Registry of Mandates - a centralized database that manages all direct debit mandates in lei.

Company Plans

At the current economic juncture, TRANSFOND, as a joint expression of the concerns of the domestic banking sector to establish a proprietary modern infrastructure with a high degree of automation, intends to diversify and expand its array of services for the financial and banking community.

TRANSFOND has outlined an action plan for the implementation of its strategy, prioritizing key interdependent projects, which will lead to achieving the strategic objectives of the company.

The main goal of our current projects is to consolidate and enrich TRANSFOND’s profile in order to be well positioned, able to face the new challenges of the changing economic environment. By implementing these projects, we intend to improve existing services - while increasing their added value - and to diversify the services delivered to third parties.

Firstly, TRANSFOND aims to capitalize on the opportunities offered by SEPA in the payments industry and, secondly, the company is looking into new developments in different business areas, connected to the core activity (like electronic archiving, electronic invoicing, hosting services, scoring industry databases and so on).

Under the broad SEPA concept, TRANSFOND has become a Clearing and Settlement Mechanism for domestic interbank euro payments. This mechanism was built in such a manner as to be able to receive and send cross-border euro payments generated by the Romanian economy in relation to the rest of the European Union.

The fields connected to payments (for instance, electronic invoicing and the electronic reconciliation of invoices and payments, to which we can attach, distinctly or integrated in the first two services, the electronic signature, the time stamp and electronic archiving) are included in the SEPA concept, under the Additional Optional Services category. Moreover, the other areas of development are also closely linked to the needs of the Romanian financial sector and, in this respect, mention should be made of the sectoral databases meant to strengthen the implementation of the Basel II principles.

At the same time, other projects of the “change initiative” type are taken into account, such as the revaluation of the human resources policies, which will allow the company to meet the demands of its new profile, as well as the expansion of the risk management system to cover, besides the needs of the payment system, other services as well.