The new version of the SENT (SEPA ACH RON) application went live on 2 November 2012. The novelty as regards this system is the processing of payment messages both in the current format as well as in the SEPA format. A participant can choose the payment order in SENT format or in SEPA format, but only one of the payment schemes, not both simultaneously.
For banks which haven’t adopted SEPA standards so far, TRANSFOND's application provides the conversion of credit transfer messages and of the messages for the return of a payment order from the SENT format into the SEPA format.
Other features of the new application:
- The SEPA ACH RON application allows other types of participation than the direct one as well (indirect and special participation);
- The period for file submission/approval was extended to cover the whole operating day, thus it is not limited to the interval before the clearing sessions anymore;
- Gridlock resolution mechanism which requires lower guarantees for the banks;
- The unprocessed transactions due to insufficient funds during the first sessions are pending, they can be processed in the next sessions, until the end of the operating day;
- For SEPA banks, there is a new simplified and more efficient way to send and receive files in SEPA format (Gateway), that enables easier tracking of the sent/received payment messages.
