Frequently Asked Questions
Are there any differences between the formats used by CORE and the ones used by other CSMs?
The underlying payment messages are always compliant with the EPC Implementation Guidelines, thereafter CSMs can apply different bulking rules for the presentation of the files to be exchanged.
CORE offers the flexibility to accept files formatted according to its own bulking rules while supporting also a number of other file formats used by other prominent CSMs in Europe.
By which means can the issuing Participant cancel a SDD request prior to settlement?
The issuing participant may send a Cancellation Request up close to cut-off time on settlement day.
By which means can the issuing Participant cancel an SDD prior to settlement?
The issuing Participant may send a Request for Cancellation on settlement day up to the agreed sending cut-off time for the message type.
Does the access to CORE imply subscription to all services?
Full account will be taken of the Banks preferences, and access will be tailored in order to meet their needs.
Does the connection to CORE imply any change in Bank’s existing infrastructures?
STET offers its client base a plug-and-play solution. An interface to CORE system will be provided to Participants willing to connect via our VPN. In that case, material and software will be located at the Participants premises.
Does the connection to CORE involve any change to a Bank’s existing infrastructure?
STET provides its clients with flexible access solutions to CORE that are as seamless as possible in their integration to existing network interfaces.
Flexibility is offered in the network choice by the availability of SWIFTNet connections, a secure proprietary VPN network and a secure IP-protocol interface.
Choice is equally offered in file formats by accepting a range of market-established formats as well as offering specific conversions as a value-added service to reduce impacts at the minimum for participating banks.
How does STET provide support in migrating to SEPA?
CORE infrastructure has been built using XML native format to be fully compliant with SEPA standards and UNIFI (ISO 20022). This configuration provides the flexibility required to handle not only SEPA payment instruments but all sorts of domestic formats as well.
CORE can process both SEPA payments and multi-country national payments. Today, CORE processes seamlessly and in Real-Time the SEPA and French domestic payments through one single hub. The choice to consolidate all types of payments through one single infrastructure facilitates liquidity management and reduces impacts on banks’ infrastructures in the migration to SEPA.