Stet

After building a brand new system and migrating the French market to this new platform, STET is now pursuing a European strategy.

We believe our technology has proven its ability to process important volumes, while adapting its processing to the varied array or European payment instruments. Thus, it becomes possible for other communities to benefit from the significant economies of scale generated by French volumes, and to combine tailored services with low costs.

STET is in a unique position to participate in the coming consolidation, helping banks to drive down their costs through economies of scale:

• Our market share (48% of CSM-processed euro payments) allow us to offer very competitive prices for a full-fledged service,
• Our system was build with multi-CSM support as part of its architecture, giving us a unique ability to support all instruments from a domestic market, both SEPA and non-SEPA,
• Designing and building a new system from scratch enabled us to process all operations in real time, a growing necessity for the small but growing role of e-payments and m-payments,
• Our system is financially protected, offering guarantees that all payments will be honored, in a manner similar to high-value systems. These features have allowed us to be branded as a SIPS (Systematically Important Payment System),
• We have sized our system in order to support large volumes. In fact, it was benchmarked for 300 millions transactions per day – comfortably more than all euro volumes combined,
• We have successfully transitioned the French community from its former legacy system to a new platform ; the experience gained from this transition will certainly be useful for other communities undergoing a similar transition.

For these reasons, we believe we are well positioned to serve a wider portion of the European market. Through a unique combination of wide features and large economies of scale, we aim to help the European banking community in moving toward a more efficient processing of interbank payments.