Between the end of 2007 and the beginning of 2008, a single Euro payment area (SEPA) was established within the European Common Market. As a consequence, the Banca Popolare di Sondrio, owner of a considerable market share in the context of national and international settlement systems - realised it risked losing competitiveness in the area of payments and Direct Debits, both in terms of quality and accuracy of services provided, and in terms of service costs.
To be able to compete adequately, Banca Popolare di Sondrio recognised its need for IT systems which had to be both efficient, to face the foreseen reduction of proceeds, and flexible, to guarantee innovative product support, with high value added.
Therefore, brave decisions were needed. In Spring 2008, BPS, with NTT DATA as its long-standing technological partner, agreed an innovative and challenging plan for a complete IT infrastructure renewal, in the area of payments and Direct Debits. In July, the VTPie plan commenced.
The plan was developed during a period of about two years and equipped BPS with an infrastructure able to support the integrated and consistent management of different payment types (SEPA Credit Transfers, Euro and Currency Credit Transfers, SEPA Direct Debits and multi-currency operations management). The implementation, over open systems, of a service-based architecture (SOA) fullfilled the requirements for operational cost reduction and the required rapidity in implementing base modules and value added products, which characterised the specific BPS request.
In the first days of December 2008, as foreseen, the first step of the detailed plan was accomplished with the launch of the production for the SEPA Credit Transfer management module. Within the first quarter of 2009, integrated management was enabled for all Credit Transfer typologies handled by the bank.