PayGlobal Technology is founded. A team focuses on the development of software that should make the conversion to IBAN / SEPA file formats easy and error-free. Data from existing systems or Excel can also be used as input. We give it the name IBANC software.
PGGM implements the IBANC software solution on the recommendation of De Nederlandse Bank. PGGM was the launching customer of PayGlobal Technology.
All Dutch banks recommend IBANC software around the switch to IBAN / SEPA, one of the major banks even pays IBANC for several thousand customers. SEPA XML replaces the Dutch ClieOp format (“Client Order”). Batch direct debits must be offered differently at the banks.
For two years, PayGlobal Technology receives an average of 1,000 new IBANC software customers per month. In practice, IBANC software has proven to be the most safe, user-friendly and reliable solution for many organizations to efficiently execute direct debit and payment batches.
PayGlobal Technology introduces the first version of IBANC Global software that allows users to make global batch payments in any currency and all countries. In collaboration with several major EU banks, PayGlobal Technology is helping international organizations transition to the new SWIFT ISO20022 CGI XML format for international batch payments.
The Dutch BTL91 format will be replaced by a uniform file format for all outgoing foreign payments, in accordance with the Common Global Implementation (CGI) standard. With the CGI XML format, companies can make payments in multiple currencies for SEPA and non-SEPA payments outside the Eurozone in one single batch to the bank. Rabobank, which is the first in the Netherlands to phase out BTL91, is encouraging customers with a lot of international payment traffic to purchase IBANC Global software. By no means all customer payment systems appear to support the phasing out of the Dutch payment file format BTL91 (“Buitenland 1991”) or to offer sufficient options for integration.
We notice that organizations increasingly choose to use the best solution instead of using all software from the same software supplier. Due to our knowledge and specialization, we see the demand for our products and services increasing further. We also see that consultancy and custom options are becoming more important.