Introduction to SEDA Creditor Registry

This module allows banks to upload and maintain the published Italian Creditor Registry Directory, enable the debtor banks to support the SEDA eMandate services, for example, the messages received from the creditor banks for initiation, amendment, and cancellation of mandates.

SEDA Creditor Registry eMandates

In the SEDA eMandate services, the creditor sends the messages to his bank which forwards them to the debtor bank. The messages here refers to initiation, amendment, cancellation of mandates.

The initiation of a mandate registration takes place only after an agreement between the debtor and the creditor has taken place. Similarly, the debtor requests for a mandate modification or cancellation for the creditor to forward the request through his bank to the debtor bank.

Another agency called as Italian Banking Association publishes the creditor directory file every day and, as a result, this directory needs to be uploaded in Temenos Transactregularly. This file has the details of each creditor, the SEDA service to which they have subscribed, their activation date, their creditor bank, if the Creditor Id is waived or not from remuneration, etc.

This functionality allows banks to store the SEDA creditor directory file in Temenos Transact that contains the details of each creditor. The activity includes new, amend and delete.

Click here to understand the terms and abbreviations used in this functionality.